Norway fund mulls West Africa expansion with Ghana investments

Deepak Malik, Africa Regional Director, Norfund

The Norwegian Investment Fund for Developing Countries is considering investments in financial-services and clean-energy businesses in Ghana as the institution extends its scope to West Africa.

Norfund, as the state-owned company is known, had 47 percent of its about $1.5 billion portfolio invested in Africa, focused in the southern and eastern parts of the continent, by the end of 2014, according to Deepak Malik, 58, the head of the 19-year-old fund’s Johannesburg office. Those include stakes in the continent’s biggest wind farm and Kenya’s largest bank. Norfund prefers to make equity investments in companies and projects rather than providing loans, Malik said.

Read more: Norway Fund Mulls W. Africa Expansion With Ghana Investments – Bloomberg Business