Chief executive Kenny Nwosu: Norsad Capital is embarking on a growth strategy that will make a palpable and far-reaching difference to millions in sub-Saharan Africa
Norsad Capital (recently rebranded from Norsad Finance) has invested in businesses in Southern African Development Community (SADC) countries and is now set to expand its focus to the sub-Saharan region of the continent.
It’s doing great things across Africa, and is set to up its impact in 2022, providing capital to social development impact businesses to spur sustainable economic growth across the continent.
To date, Norsad Capital has invested over US$500 million in more than 150 businesses across 12 Southern African countries. Last year, Norsad investments supported more than 10 000 jobs across Angola, Botswana, Eswatini, Kenya, Lesotho, Malawi, Mauritius, Mozambique, Namibia, South Africa, Tanzania, Zambia and Zimbabwe.
Norsad Capital is backed by a combination of Nordic and African investors. These include the European Development Finance Institutions – Finnfund, IFU, Norfund and Swedfund, and a number of African shareholders including the Development Bank of Angola, the Development Bank of Namibia, CEDA Botswana (the Citizen Entrepreneurial Development Agency), the Development Bank of Zambia, and others.
Investment focus is in services and products that focus on renewable energy; food value chain related enterprises; initiatives in education; and financial services providers that deliver accessible, inclusive services.
Now, in line with the rebranding from Norsad Finance to Norsad Capital, the business has adopted four strategic imperatives to drive growth over a 10-year horizon. It’s set to widen its SADC footprint; invest more in niche sectors; diversify operations in sub-Saharan Africa; and expand the sustainable infrastructure finance offering of the business.
Chief executive Kenny Nwosu says these growth levers will take Norsad Capital into new territories and forms of financing, to change the very nature of the business from a financing resource to a provider of capital for sustainable, social impact-focused growth on the African subcontinent.
“The revised and refreshed Norsad Capital brand aligns with our objective of powering growth across sub-Saharan Africa by providing longer-term risk capital to companies that are financially, socially and environmentally sustainable. We have identified markets for expansion, and we embark on our growth strategy confident that we will make a palpable and far-reaching difference to millions,” Nwosu says.
“Our purpose is to build a better Africa through providing capital to initiatives and businesses whose goals focus as much on sustainability as they do on profit. With the rebranding comes a fresh focus on capital provision for sustainable growth. Norsad Capital is looking to the future, unlocking new opportunities, leading by example and committed to a business model – which has partnerships and diversity at its core – that delivers exceptional results for the continent we are deeply invested in.”