Norsad invests in its first transaction in the Democratic Republic of Congo
11/11/2021
Norsad Finance Limited, an impact investor providing tailor-made debt solutions to mid-market growth companies in Sub-Saharan Africa has made its maiden investment in the Democratic Republic of Congo (DRC) through an investment of USD 5.0 million by way of a term credit facility to Monishop Sarl, an FMCG retailer operating in Kinshasa, DRC.
The investment alongside other funders including XSML managed Africa Rivers Fund II, BGFI Bank and other local banks, is targeted towards the development of a 12-storey mixed-use retail development in the relatively under-served area of Gombe, Kinshasa (Monishop II). This follows the successful development and operation of a similar retail complex anchored by Monishop Supermarket in the Kintambo Municipality of Kinshasa in 2011. The DRC is the 4th most populous country in Africa and Kinshasa has a population of over 17 million people highlighting not only the market potential but also the need for more formalised retail in the city and country.
The Food Value Chain (FVC) which ranges from “farm to table” is one of the key focus sectors for Norsad’s investments as it is aligned to the UN Sustainable Development Goal (SDG) on Zero Hunger. The investment is also in line with Norsad’s impact themes on Sustainable livelihood (employment creation and empowering local entrepreneurs) and Gender Equality (Woman owned business as well as female employees within similar establishments).
Alice Zulu who is Investment Principal at Norsad said “We are delighted to be making our first investment in the DRC in the over 30-year period Norsad has been investing in the region. In Monishop, Norsad has partnered with strong sponsors with a depth of experience as well as other financial partners that have knowledge and networks within the central African region.”
About Norsad
Norsad Finance is an impact investor providing tailormade debt solutions to mid-market growth companies in Sub Saharan Africa but predominately Southern Africa. The company has an over 30-year track record having invested in over 150+ companies. More information www.norsadfinance.com
About Monishop SARL
Monishop was founded in 2011 and currently operates a mini retail complex, anchored by the Monishop Supermarket in the Kintambo Municipality of Kinshasa. The supermarket sells both local and imported Fast Moving Consumer Goods (FMCG) products and also houses key banking tenants.
