Norwegian Investment Fund for Developing Countries (Norfund) News

Frank Adu, CEO, CAL Bank

Arise BV acquires 28% stake in Ghana's CAL Bank as DPI successfully exits

CAL Bank has announced that its second largest shareholder, private equity firm DPI, has successfully sold its 27.7 percent stake in CAL Bank to Arise BV of the Netherlands.

EXEO Capital's Sub-Saharan Africa agribusiness Agri-Vie Fund II attracts over $100M in first close

EXEO Capital's agribusiness Agri-Vie Fund II attracts over $100M in first close

EXEO Capital, the pan-African private equity investment firm, has announced the first close of the second Agri-Vie Fund, focused on the food and agribusiness sector in Sub-Saharan Africa.

Scatec Solar and Norfund sign power purchase agreement for Mozambique's first large-scale scale solar plant

Scatec Solar and Norfund sign power purchase agreement for Mozambique's first large-scale solar plant

In addition to this new 40 MW plant in Mozambique, Scatec Solar operates 200 MW of solar power plants in South Africa and Rwanda and has new projects under development across Africa, including in Mali, Nigeria and Kenya.

Deepak Malik, Africa Regional Director, Norfund

Norway-Backed Fund on Hiring Spree in Africa Finance Venture

A new development-finance venture that will control banking and other assets worth more than $660 million across sub-Saharan Africa plans to hire as many as 20 people including analysts to manage its investments and help it spend another $300 million on acquisitions.

African M&A deal volume at a seven year high, says Mergermarket

African M&A deal volume at a seven year high, says Mergermarket

A steady increase in African deal flow and interest from overseas investors since the financial crisis points to the increasing maturity of African countries as a destination for M&A.

Deepak Malik, Africa Regional Director, Norfund

Norway fund mulls West Africa expansion with Ghana investments

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.

Dr. Klaus Müller, Director, KfW Development Bank (Left) and Mr. Jurie Willemse, Chief Executive Officer, GroFin (Right) sign an agreement to mark official launch of the GroFin Small and Growing Businesses (SGB) Fund in Africa.44

GroFin launches $100M fund for small and growing businesses in Africa

GroFin launches first of its kind, uncapped and unlimited-life fund to support growth of small and growing businesses in Africa.

Tony Wainaina, Managing Partner, Fanisi Capital

Kenyan private equity firm Fanisi Capital pays $6M for minority stake in Tanzanian agro-processor

Kenya-based private equity house Fanisi Capital said on Thursday it had bought a stake in a Tanzanian agro-processing company for $6 million, expanding its footprint in the region.

Kjell Roland, Managing Director, Norfund

Norway's Norfund to double power investments in Africa by 2020, says Managing Director Kjell Roland

Norway’s state-owned development fund, Norfund, plans to double or even triple its investments in Sub-Saharan Africa’s power sector by 2020, its managing director said on Wednesday.

Ayisi Makatiani, Managing Partner & CEO, Fanisi Capital

Kenyan $50M private equity fund Fanisi Capital invests $2.1M in European Foods Africa

Kenyan private equity house Fanisi Capital said on Thursday it had invested $2.1 million in a mid-sized local food distribution and processing firm that sells pizzas, berries and fresh juice.

Ascent Africa Private Equity Fund

Ascent Africa private equity fund eyes $60 million by mid-2015

Private equity firm Ascent Capital wants to increase its east Africa fund to $60 million by mid-2015 from $50 million it has raised so far and plans to announce completion of its first investment in about two weeks, a partner said on Monday.

Tope Lawani, Co-Founder & Partner, Helios

Private equity firm Helios to sell half its stake in Kenya's Equity Bank

Africa focused investment firm Helios will sell half its stake in Kenyan lender Equity Bank, or 12.22 percent of the bank’s shares, to Norway’s Norfininvest AS, the lender said on Friday.