History of Norsad Financing
Norsad Finance Limited is an impact investor established to contribute to the private sector development of Southern African economies by providing funding to enterprises that are financially, socially and environmentally sustainable. Norsad prioritizes investments to businesses that create sustainable employment, diversify local economies and are keen to adopt or maintain decent working conditions and good governance practices. The Company was incorporated in Botswana in 2011 and is IFSC accredited.
Though Norsad Finance was incorporated in November 2011, the Company has a history spanning over 20 years. It first started operating in 1990 as a multilateral agency based in Lusaka. The establishment of Norsad Agency followed an agreement between four Nordic countries (Denmark, Finland, Norway and Sweden) and 11 Southern African countries (Angola, Botswana, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Swaziland, Tanzania, Zambia and Zimbabwe) to establish an organisation that can contribute to the economic development and self-reliance of the participating SADC countries by extending foreign currency facilities for the operations of private sector enterprises in the region.
The institution evolved into a limited liability company by 2012 with development finance institutions (DFIs) in the member countries invited to subscribe to Norsad Finance Limited's shares. These institutions are currently the respective shareholders in Norsad.
Norsad Finance provides long term risk capital to Southern African companies that are financially, socially and environmentally sustainable.
Norsad Finance will be recognized as a provider of flexible and customised financing solutions to commercially viable, as well as socially and environmentally sustainable businesses in the Southern African region by:
- providing customised debt, mezzanine and on exceptional basis, equity financing for growth companies and financial institutions;
- doubling its capital base by 2020 through a capital increase from our Shareholders, retained earnings and leveraging from market;
- maximizing its economic and development impact by actively catalysing co-financing from its Shareholders, venture capital funds, commercial banks and DFIs; and
- adding value to its Shareholders by being an accountable and complementary tool for achieving their private sector development goals.