Representative Portfolio Investments


Furnmart, Botswana

Furniture Retail

Furnmart is listed on the Botswana Stock Exchange and has a number of retail outlets spread across Botswana, Namibia, Zambia and South Africa. The Company has two brands catering for various customer segments. Their Xtreme and Furnmart brands are traditional hire purchase retailers aimed at the mass market and the Homecorp branded stores sell high quality, fashionable furniture and branded appliances. Norsad participated in financing the expansion of the company’s operations in the region.


Focus Ironclad Group, Mauritius

Banking and Financial Services

Focus Ironclad Group is the holding company of Focus Group of companies (Focus), positioned to address the unique challenges that SMEs face in Zambia. Present in the highly active economic centers of Zambia, the various complementary businesses are engaged in order financing, invoice discounting and other short-term financing products, leasing, asset management, general and life insurance solutions for small and mid-sized businesses and micro-insurance. Norsad provided expansion financing to Focus for growth.



Nyangani Renewable Energy (Pvt) Ltd, Zimbabwe

Renewable Energy

Nyangani Renewable Energy (NRE) is an independent power producer operating in Zimbabwe and has built five hydro electric power schemes delivering power into the national grid. Norsad provided finance for the Pungwe C scheme, which has enabled NRE to increase its total installed capacity to 25MW producing enough electricity to power 85,000 households across Eastern Zimbabwe. Pungwe C, in Zimbabwe’s Honde Valley, is a run of river scheme on the Chiteme river with the generated electricity dispatched to the Zimbabwe national grid and used water immediately returned into the river.



Namibia Procurement Fund, Namibia

Banking and Financial Services

The Namibia Procurement Fund (NamPro) provides working capital facilities and bridging finance to high growth small and medium size companies to meet their supply contract obligations. The Fund has grown to become a prominent SME financier in Namibia. Products include purchase order finance, invoice/receivables discounting, bid bonds, performance guarantees and leasing finance. NamPro is committed to modern principles and practices of good corporate governance. In 2013, the Fund increased its Investment Portfolio with the assistance of a Norsad facility. The Fund continues to improve local SMEs investment opportunities with targeted access to finance.


Protea Hotels Zambia Limited, Zambia


Protea is a South African hospitality brand with about 116 hotels across ten African Countries and recently acquired by Marriot International, a Nasdaq-listed global hotel chain. Protea Hotels Zambia Limited develops, and operates Protea Hotels and Inns franchises in Zambia. Norsad’s relationship with the promoters commenced over a decade ago and we remain a partner for growth as the group continues to expand its hospitality portfolio. Norsad is a finance partner in the construction of Ndola Protea Hotel.


Lilongwe City Mall, Malawi

Shopping Centre

Lilongwe City Mall is one of the leading shopping malls located in the central city of Lilongwe in Malawi.  The mall has a gross lettable area of 14,503 square meters, with Game Stores of South Africa as anchor tenants. Other tenants include restaurants, fast food courts, apparel shops and banking facilities. The mall is managed by Broll Malawi Limited and has good development impact in terms of job creation, contribution to government revenue and support to SME merchant businesses.



D.D. Ruhinda, Tanzania

Sisal Production

This family owned trading company ventured into sisal production after acquiring the 1,734ha Mkumbara Sisal Estate. The company also operates a spinning mill which has added value to the raw sisal fibre. The business has impacted positively on the local community, through employment creation in an area of the country with limited employment opportunities. The company has laudable aspirations and strives for excellence in production of quality products and corporate social responsibility.


Banco Regional Do Keve SA, Angola

Banking and Financial Services

Banco Regional do Keve S.A. (“Banco Keve”) is an indigenous Angolan bank.  The bank was established in 2003 with a main objective to offer banking and financial services to clients across Angola. The bank has a deliberate SME policy as it believes that SMEs are the catalyst for growth and development in Angola.  In addition to its SME focus, the bank also has larger corporate clients and is a second tier bank with total assets of approximately USD 1.0 billion. The bank has a presence in 14 of the 18 provinces of Angola. Norsad has been a finance partner of the bank since 2012, in contributing to funding of more small and medium size businesses.


Oil and Protein Co. Limited, Malawi


Oil and Protein Company Limited processes and extracts edible oils from sunflower seeds and soya beans. The edible oil is traded locally, under the brand name of Super Star Oil. The company also produces soya beans cake, sunflower cake and cotton seed cake as Animal Protein Feed. The various animal feed cakes are exported to South Africa.  The Norsad facility to the company was utilised for installation and setting up a new solvent extraction plant


Kariba Harvest, Zambia


The farm was established in 2010 and is a subsidiary of Africa Century Foods Limited. The main produce at the farm include whole round fresh tilapia fish and other processed tilapia products. The farm targets the Zambian market, especially around the Kariba Lake and parts of the Democratic Republic of Congo, where tilapia is a main source of protein. A number of jobs have been created and sustained following the Norsad funding. Skills have been further developed through training, both on the job and external training. The farm contributes towards national income and government revenue annually.