Investment areas
Portfolio in depth
Portfolio Africa: Country: Tanzania Africado is an avocado plantation at the foot of the Kilimanjaro in Tanzania. Avocado has been introduced as a new cash crop in an area where coffee-growing dominates the local agriculture. The production will mainly be sold to the European market, and Africado will thereby generate important export revenues for Tanzania. At full capacity, Africado will employ approximately 400 persons, as well as several thousand independent farmers. Norfund’s investment involves loans and equity capital amounting to a total of NOK 22 million. Country: Regionally in Africa Norfund helped establish this organization in 2005, jointly with its Nordic sister organizations Swedfund, Finnfund and IFU, as well as the Rezidor Hotel Group which operates hotels all over the world under the brand name Radisson. The objective is to co finance hotel projects in several parts of Africa with the aid of subordinated loans. Norfund has agreed to invest approximately NOK 50 million in this project.
Country: Tanzania Country: Regionally in Africa AMSCO (African Management Services Company) recruits experienced advisors and consultants and hires them out as managers to small- and medium-sized enterprises. AMSCO contributes to improve the internal processes in the enterprises, and thereby to build internal management competency that will make the companies more sustainable. A total of 270 managers are currently placed in African companies through AMSCO. Norfund has invested approximately NOK two million in this project.
Country: Swaziland CasquipStarch is a combined agricultural and industrial project for growing cassava and producing starch from the roots (watch a video about the project here). The processed product will primarily be exported to paper manufacturers and food producers in South Africa. Norfund gives high priority to Swaziland, and this investment will have strong development effects, including expected employment of 500 persons and a corresponding number of independent farmers over time. Norfund’s investment includes loans and equity capital amounting to a total of NOK 30 million. Country: Regionally in Africa Norfund first invested in this fund in 2006 and increased its invested amount in 2009. EFP is a co financing mechanism where several of Norfund’s European sister organizations participate along with the European Investment Bank (EIB). The objective is to promote the development of the private sector in the ACP countries (African, Caribbean and Pacific Group of States), and more than 60 per cent of the investments made to date are in the LDCs. In addition to ensuring access to financing large projects in developing countries, EFP also facilitates European cooperation and transfer of competence between the European DFIs in a unique manner. Norfund has committed itself to investing a total of almost NOK 100 million in EFP.
Country: Regionally in Africa In 2008, Norfund provided a loan to this enterprise through the LDC credit line. Euro TechBridge has established two joint ventures with local enterprises in Kenya and Uganda, respectively. The enterprise provides technology for product traceability to companies and industrial organizations in East Africa, which will improve the efficiency of local industry and also facilitate access to Western export markets. Norfund has invested a total of NOK 2.5 million.
Country: Tanzania Country: Mozambique Banana plantation in northern Mozambique. Matanuska is a cooperation project with farmers established in East Africa. The plantation employs about 2,600 people and is expected to increase to 3,000 people over time. The project operates in its first phase, which consists of planting and putting 3,000 hectares into production. When the plantation operates at capacity, more than 150 containers will be exported weekly to Middle East, Asia and Europe and bring valuable export revenues to Mozambique. Norfund’s investment includes loans and equity capital in excess of NOK 55 million.
Country: Uganda Norfund invested in this project in 2010 through the LDC credit line. Pride Architects acts as architect as well as project leader for a residential housing project in Uganda, with the aid of local as well as international partners. Only a minority of Uganda’s citizens have the opportunity to own their own home, because of the high costs and lack of financing. With the use of cost-efficient technologies and local partners, this project will be able to offer housing and financing solutions that are more easily available. Norfund has agreed to invest a total of NOK 2.5 million. Country: Regionally in East Africa Norfund invested in this project in 2009 through the LDC credit line. Scandinavian Water Technology develops and establishes community water systems that provide safe drinking water to local communities. The local communities themselves participate in operating and maintaining the systems, which ensures ownership and sustainability of the projects. Norfund has invested a total of NOK 2.5 million.
Country: Nicaragua Norfund invested in this company in 2005. The company operates its own fishing fleet and sells fish to small-scale fishermen who process and export fresh fish and seafood to Mexico and the United States. In addition, Nicafish has developed fishery and marketing of langostino crayfish, which previously have been exploited only to a very little extent as an alternative to other kinds of seafood. Norfund has invested a total of approximately NOK 13 million.
Country: Afghanistan Norfund invested in this hotel project in 2005. The hotel was built following a desire from the authorities to have a hotel in Kabul that meets international standards. After the terrorist attack in January 2008 increased emphasis was put on security and protection. The main owner of the company is the Aga Khan Fund for Economic Development (AKFED), a fund which has broad experience in industrial development in this region. The hotel constitutes an important part of the local infrastructure and enables Afghanistan to offer suitable meeting and conference facilities to visitors and businesspeople. Norfund has invested a total of NOK 34 million.
Country: India Norfund invested in this factory in 2004. Safa Marine Industries manufactures fishery equipment and nets for the local fishing industry. The objective was to obtain working capital in order to fulfil export orders. Norfund has invested a total of NOK 700 000.
Country: Pakistan Norfund invested in this chain of hotels in Pakistan in 2007. TPS is marketed under the brand name Serena. The main owner of the company is the Aga Khan Fund for Economic Development (AKFED), a fund which has broad experience in industrial development in this region. The company owns and runs five hotels in Islamabad, Faisalabad, Quetta, Swat and Gilgit, in addition to two lodges in Hunza and Shigar Fort. Norfund has invested a total of NOK 22 million.
|
