Kenya: Norfund to grow investment in Kenya

The Norwegian Investment Fund for developing countries (Norfund) has unveiled plans to further increase financing to local enterprises seeking growth support this year. 

As part of the commitment to grow investments in Kenya, Norfund Global CEO, Tellef Thorleifsson, says he expects the country to witness the organisation’s new financing sign-up with several local enterprises.

Profitable local enterprises seeking to expand their operations and market in Kenya will enjoy funding access and business development support from Norfund as part of the institution’s commitment to deepening its local presence.

Norfund Regional Director, William Nyaoke added the development finance institution with investment interests in Equity Bank, D-light, Ascent Capital, and Marginpar, among others, will support profitable enterprises with a potential to contribute to economic and social development. 

To help build possible businesses and industries, he said,  “NoFund contributes to economic and social development by helping build sustainable businesses in Kenya and elsewhere that are too risky to access expansion capital.”

He  also added, “2022 will have positive knock-on effects for Kenya. ” 

The mission of the Development Finance Institutions is to promote sustainable development in developing countries like Kenya by providing capital for renewable energy, financial inclusion, green infrastructure and scalable investment in line with the United Nations Sustainable Development Goals.