21.11.2023

Norsad Capital Limited, an impact investor and private credit provider in Africa, today announced a leadership transition as Kenny Nwosu will be stepping down from the position of Chief Executive Officer, citing personal reasons.

During this transition period and for the purposes of continuity the current Chief Financial Officer Jonathan Davies will be handling day-to-day operations, as interim CEO with full support from the Executive Management and the Board of Directors. [ read more ]

[Mbabane] 24 August 2023 – Norsad Capital, an impact investor and private credit provider, has invested ZAR 150 million in First Finance eSwatini in order to support the Fincorp Group subsidiary in its endeavour to provide access to credit and financial services to the people of eSwatini.

eSwatini’s population faces challenges in accessing financial services as an estimated 66% of the population does not have access to formal credit according to FinMark Trust and UNCDF, 2020.

“With this in mind, First Finance is playing its role to improve middle income earners’ access to credit. The investment from Norsad  Capital will play a catalytic role in driving our growth and achieving success and financial inclusion” says Simelane Justice, Chief Financial Officer at First Finance

Financial inclusion seeks to remove the obstacles that hinder people from accessing financial services and ultimately reducing poverty and enhances wellbeing.

 First Finance is a non-deposit taking development finance institution, offering financial planning and debt counselling services to borrowers. Its primary objective is to promote responsible lending and protect recipients from excessive debt.

“We are thrilled to announce our expanded partnership with First Finance, one of the leading financial services providers in eSwatini. Norsad’s investment will greatly support the company’s expansion in the market, specifically in unsecured personal loans, and enable the diversification and expansion of its loan products, including catering for more private institutions,” says Carol-Jean Harward, Investment Director  and Transaction Lead at Norsad Capital.

“This investment is strategically aligned with Norsad’s goal of fostering strong relationships with our existing clients, and we anticipate significant benefits from this collaboration,” she adds.

  Norsad’s investment is aligned to its focus on the Financial Institutions sector and its commitment to promoting financial inclusion and sustainable livelihoods, thereby contributing to our purpose to build a better Africa. Moreover, it aligns with Norsad’s focus on gender equality, fulfils the 2x criteria and caters to the company’s other demographics.

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 About Norsad Capital

Norsad Capital is an impact investor providing tailor made debt solutions to mid-market growth companies in Sub-Saharan Africa. With a track record spanning over 33 years, Norsad Capital has invested over USD700 million in more than 170 companies across the continent. For more information:  https://www.norsadcapital.com

About First Finance

First Finance is a financial services provider currently operating in eSwatini. They offer a wide range of innovative financial services such as personal loans to civil servants, parastatals, and private institutions in a responsible and sustainable manner. Since 2010, First Finance has invested in expanding its footprint and professional teams throughout the country to meet the dynamic financial needs of their clients. First Finance is the second leading microfinance institution in eSwatini with about 23% market share in terms of assets and a loan book size of E1 billion as at the end of March 2023. For more information: https://firstfinance.co.sz/

[Lilongwe] 16 August 2023 – The Export Development Fund (EDF) has embarked on a collaboration with Norsad Capital, an impact investor and private credit provider renowned for its custom-tailored debt solutions. This  partnership, symbolised by the formal signing of a Memorandum of Understanding (MOU), was unveiled.

Under the terms of this agreement, the two entities will explore potential business opportunities, unite forces on significant transactions and share investment avenues, especially when funding requirements transcend individual thresholds.

This partnership represents a significant stride towards unlocking Malawi’s untapped economic potential. By capitalising on its vibrant export capabilities and nurturing sustainable growth through strategic investments and financial support, this collaboration paves the way for a more prosperous future.

As a distinguished Development Financial Institution (DFI), EDF endeavours to enhance the competitiveness of Malawi’s exports. EDF proactively nurtures and empowers export-oriented enterprises that are poised to contribute significantly to national economic development through export diversification and growth.

“Our shared objectives of fostering sustainable economic growth and development have catalysed this collaboration that will play a significant role in addressing the funding challenges that medium, and large-scale enterprises in Malawi face. This partnership will not only bolster the financial resilience of businesses but also elevates their potential to create positive change in Malawi. Together, we harness Malawi’s expansive export potential and business prospects.” says Fredrick Chanza, Managing Director at EDF

As a thematic impact investor aligned with the United Nations Sustainable Development Goals (SDGs), Norsad Capital holds a firm commitment to investments that strategically address societal and environmental challenges. This resonates harmoniously with EDF’s overarching mission to uplift the well-being of Malawi’s populace through economic development.

Kenny Nwosu, CEO of Norsad Capital, says “Our collaboration involves introducing each other to potential transactions and harnessing our distinct areas of expertise and funding strategies. This will provide comprehensive insights to formulate impactful deals.”

Unified in their vision to catalyse job creation and elevate livelihoods, both financial institutions share a central focus on providing essential capital to profitable enterprises. A pivotal aspect of this collaboration is the mutual support in amplifying the private sector’s pivotal role in driving robust economic growth.

Kenny Nwosu adds, “Malawi’s Micro, Small, and Medium-sized Enterprises (MSMEs) sector is primed to ascend the value chain towards higher value-added products, presenting substantial opportunities for growth.”

This MoU aligns with Norsad Capital’s strategic focus on the Southern African Development Community (SADC) region, which remains underserved by financial institutions despite the abundant business prospects spanning multiple sectors.

Moreover, the developmental challenges that hold significance for Norsad Capital mirror EDF’s priorities, including financing for social infrastructure, bolstering manufacturing industries, and addressing the critical need for financial inclusion.

In summation, this partnership bodes well for Malawi’s economic trajectory. With the potential to amplify accessible capital for emerging businesses within the nation, this collaboration is set to ignite regional economic expansion.

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About Norsad Capital 

Norsad Capital is an impact investor and private credit provider offering tailor-made debt solutions to profitable growth-stage companies that deliver desirable social and environmental impact. With a track record spanning over 33 years, Norsad Capital has invested over USD 700 million in more than 170 companies across the continent.

 About EDF

Export Development Fund (EDF) is a development financial institution (DFI) whose major objective is to increase the productive potential of the country through provision of finance, equity participation, or credit guarantees, and advisory service for the set-up, expansion and modernization of viable enterprises in the medium and large-scale enterprises sector in Malawi.

 Press Release: Nairobi’s Ruai Family Hospital receives  investment to help its fight against cancer

Norsad Capital cash injection set to improve oncology facilities for Nairobi’s lower and middle income communities

[Nairobi] 03 August  2023 – Norsad Capital, an impact investor and private creditor provider, has structured a facility  to help Ruai Family Hospital (under the transaction advice of Noblestride Capital) improve access to affordable oncology healthcare for the lower and middle-income residents of Nairobi.

Kenya faces enormous healthcare challenges, specifically in populated areas of Nairobi where there are limited or no full-service healthcare providers. Cancer ranks as the third highest cause of death and the second most prevalent noncommunicable disease following cardiovascular diseases in Kenya. And, according to RFH, the occurrence of cancer is on the rise with reported figures of 47,887 new cases in 2018 and 42,116 new cases in 2020.

“The growing demand for affordable cancer diagnosis and treatment and the overflow of public hospitals, due to the lack of critical equipment, has prompted us to deliver this service to the Kenyan populace,” says Dr. Maxwel Okoth, Founder and Group Managing Director at RFH.

“Our primary objective is to ensure accessibility to the best medical practices and cutting-edge technological advancements, all delivered at affordable prices, to serve the needs of patients. Norsad’s investment will enable us to complete the construction of the oncology centre which will provide access to high-quality oncology treatment and care to cancer patients across Africa,” he adds.

Moreover, the cash injection aims to create significant job opportunities for the local community throughout the construction and operation of RFH’s the oncology centre. Local businesses will also benefit financially from the project as materials will be sourced from within the community. Overall, the project will provide economic benefits for the local population, thus stimulating economic activity in Nairobi.

“With Norsad’s strategy of diversifying into Sub-Saharan Africa, we are thrilled to have the opportunity to fund the growth strategy of RFH. The funding provided will play a crucial role in helping RFH complete its oncology centre which will offer comprehensive care and diagnostic services such as PET Scans, linear accelerator scans, MRI Machines, CATHLAB, Mammograms and others,” says Alice Zulu, Investment Director at Norsad Capital.

The investment supports Norsad’s commitment to expanding soft and social infrastructure, which aims to provide greater healthcare access to underserved communities. Moreover, the project aligns with the fundamental human rights of access to good equitable healthcare and well-being targeting the United Nations Sustainable Development Goals (SDGs) 3 (good health and wellbeing) and 10 (reduced inequalities).

“We recognise the importance of access to healthcare and its alignment with our aspiration of building a better Africa,” continues Zulu, adding that a strong healthcare system not only supports sustainable livelihoods but also enhances the overall quality of life for the population.

With origins dating back to 2011, RFH Healthcare emerged as a modest venture, having its roots in a one-bedroom apartment. Today it stands as a true leader in championing female empowerment; fulfilling the 2X Challenge’s investment criteria on leadership (with female board) representation, employment and consumption as RFHprovides access to maternity wards, gynaecologists, obstetricians, and other specialised services for women.

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About Norsad Capital

Norsad Capital is an impact investor providing tailor made debt solutions to mid-market growth companies in Sub-Saharan Africa. With a track record spanning over 33 years, Norsad Capital has invested over USD 700 million in more than 170 companies across the continent.

For more information:  https://www.norsadcapital.com

About Ruai Family Hospital

Ruai Family Hospital Limited (RFH) is a Kenyan registered hospital chain of nine healthcare facilities founded in 2012 operating within Nairobi, Kiambu, and Machakos counties in Kenya. The hospital was first focused on maternal and child care. It has since expanded its offering to include primary outpatient care, specialists’ consultation, surgical clinics, renal, home-based care, critical care, imaging, sub-specialized care, among others.

Driven by innovation and excellence, the company has been awarded in the past by among others, Quality Healthcare Kenya Awards for Baraka Card – a healthcare financing platform created by the hospital to increase accessibility of their services.

For more information: https://rfhhealthcare.co.ke/

About Noblestride Capital

Noblestride Capital is a transactions advisory firm supporting mid-tier corporates in fundraising and M&A. The firm’s main services include debt capital raising, structuring equity deals, financial modeling, valuations, PE advisory and other corporate finance services. The company is registered by the Institute of Certified Investment and Financial Analysts (ICIFA) to engage in the practice of investment and financial analysis, perform investment advisory services and investment transactions, or engage in the practice of offering any services prescribed under the provisions of the Investment and Financial Analyst Act, No. 13 of 2015.

For more information: http://www.noblestride.co.ke

[Mbabane] 20 July 2023 – Norsad Capital, an  impact investor and private credit provider that offers tailor-made debt solutions to profitable growth-stage companies that deliver desirable social impact in Africa, is providing Letshego Eswatini with funding to the value of ZAR 150 million.  The capital will be used to support and improve the lives of civil servants, employees of State-Owned Enterprises, micro and small entrepreneurs and private sector employees through the disbursement of micro loans.

Letshego Eswatini’s purpose is to improve lives by offering financial solutions that meet the diverse needs of Individuals. The loan services are designed to convey convenience and accessibility to those who are typically excluded from traditional banking institutions, and this is accomplished through partnerships with local fintech businesses.

Despite efforts to alleviate poverty and reduce inequality, a significant portion of Eswatini’s population still experiences financial challenges.   While more than two-thirds of adults have limited access to formal financial services, there is still a significant number who experience financial exclusion and encounter multiple challenges in qualifying for simple micro loans or basic financial services.

“Too many members of our Eswatini nation struggle to access traditional financial services. This challenge is particularly prevalent in more rural areas, where the majority of our people reside and rely heavily on small businesses and agriculture”, says Mongi Dlamini, Country Chief Executive Officer at Letshego Eswatini.

“Letshego’s purpose is to bridge the gap for individuals to access affordable, simple and accessible solutions to increase productive lending, and make a difference in the lives of our people,” he adds. Norsad’s investment into Letshego’s vision and strategy to improve lives enables more individuals and small business owners to access sustainable micro funding to increase income potential.  Letshego empowers and educates its customers to use their loans for productive purposes – these purposes include buying more stock for small business owners; funding children’s education; building or improving a home or accessing critical healthcare. 

“Norsad Capital is thrilled to have the opportunity to strengthen its partnership with Letshego Eswatini,  whose inclusive finance strategy is centred around achieving a sustainable social impact,” says Oteng Sebonego, Investment Director at Norsad Capital and transaction lead.

“The funding  will play a crucial role in helping Letshego Eswatini expand its market share in the unsecured personal loans sector and broaden its range of loan products.  The investment aligns with Norsad’s focus on Financial Institutions and its commitment to promoting financial inclusion and sustainable livelihoods, contributing Norsad’s purpose of building a better Africa.” he adds.

Financial inclusion aims to eliminate the barriers that prevent people from accessing financial services, thereby reducing poverty (United Nations Sustainable Development Goal #1) and improving their quality of life.  Additionally, this investment also supports Norsad’s impact theme on gender equality, as 55% of Letshego Eswatini’s customers are female.

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About Norsad Capital

Norsad Capital is an impact investor providing tailor made debt solutions to mid-market growth companies in Sub-Saharan Africa. With a track record spanning over 33 years, Norsad Capital has invested over USD700 million in more than 170 companies across the continent. For more information:  www.norsadcapital.com

About Letshego Eswatini

Letshego Eswatini is a financial services provider operating in the Kingdom of Eswatini. It is a wholly owned subsidiary of pan-African microfinance institution Letshego Holdings Limited, that has a presence in 11 countries across Southern, East and West Africa.  Letshego Eswatini offers various financial products and services, including loans, savings, and insurance solutions, primarily targeting mass and middle market segments as well as microenterprises. For more information click https://www.letshego.com/eswatini / facebook @. / Letshego Group: www.letshegoinvestor.com

Recognising their common goals, the Development Bank of Angola (BDA) has joined forces with Norsad Capital, a provider of private credit to businesses in a growth stage. This partnership will be formalized at a ceremonial event at the Hotel Palmeiras, in Talatona – Luanda, at 11 am on June 29, 2023. The Parties will sign a Memorandum of Understanding which will set out the terms of the partnership.

According to Kenny Nwosu, CEO of Norsad Capital, “in essence, our agreement means that we will introduce each other to potential transactions so that we can maximise the deal flows. We each have our own expertise and funding models so, together, we can provide far more in-depth insights when putting together a deal.” Both financial institutions focus on providing much-needed capital to businesses, which can be used to promote economic growth and improve the lives of people on the continent of Africa. “We recognise that we share common objectives in terms of private sector development in Angola, and this is what drives our decision to collaborate with each other,” explains Patrícia de Almeida, CEO of the BDA.

As a public financial institution, the BDA’s major focus is promoting ongoing economic growth through sustainable development in the country, which includes raising the country’s competitiveness on the world stage.  Its initiatives promote the well-being of the Angolan population by granting credit to the economy, boosting the business sector, creating jobs and increasing sustainable livelihood opportunities.

In terms of the agreement, the two Parties will share contacts for potential business; assist each other when putting together sizable deals; and share an investment opportunity should the amount required exceed the limits available for funding by each party.

A particularly important element of the co-operation is that the Parties will support each other in working to further promote the private sector’s role in growing the economy. “The government of Angola recognises that the country should diversify its economy and become less dependent on oil production. This is where the greatest opportunities lie for us as funders – the SME sector can make a major contribution to the diversification of the economy. In addition to the various benefits, it will be helpful for us to have a partner on the ground in Angola who has local knowledge and can provide us with insights, for instance, about a business located in the country that we are considering doing business with”, Nwosu says.

Identifying itself as an impact investor with a particular focus on the United Nations Sustainable Development Goals (SDGs), Norsad Capital aims to be a thematic impact investor that selects investments which clearly contribute to solving social and environmental challenges. This objective aligns with the overarching aim of the BDA: to contribute to the improvement of the quality of life of Angolans. Many of the sectors that are of importance to Norsad Capital are equally significant for the BDA, such as contributing to growth of the agriculture, livestock, manufacturing and other productive sectors, including  the expansion of the renewable energy sector through solar and hydroelectric initiatives, improving logistics and transport infrastructure, and the pressing need for financial inclusion.

All in all, this partnership augurs well for the future of the economy of Angola. Likely to make more capital available to growth-stage businesses in the country, this relationship will promote economic growth in the region.

The Development Bank of Namibia  (DBN) has signed a Memorandum Of Understanding (MoU) with Norsad Capital, an impact investor and private credit provider offering tailor-made debt solutions to profitable growth-stage companies. In collaboration with DBN, this partnership is set to increase various investment mandates in Namibia, including  affordable housing and the financial sector through injections into banking, insurance, microfinance, and investment funds.

Among other resources, Namibia is rich in renewable energy sources, particularly solar and wind power. DBN’s move to join forces with Norsad will open up possibilities for increased investments in renewable energy projects which could see Namibia’s dependence on imported energy decrease while creating a positive impact for communities.

“There are currently an array of investment opportunities in Namibia, including the renewable energy sector, infrastructure, agriculture and agribusiness, to name a few. We look forward to being part of Namibia’s growth potential through more investment in these areas which form part of the four themes and four sectors of opportunity that we’ve identified for expansion across Africa,” says Kenny Nwosu, CEO at Norsad Capital.

Development Bank of Namibia Chief Executive Officer Martin Inkumbi says the institution views finance for small and medium enterprises (SMEs) as vital to the economy and that’s why the DBN SME Centre structures finance for SMEs depending on the complexity of the project.

The Bank works with applicants to develop a deep understanding of business models, project proposals, and enterprise milestones so that it can develop viable financing terms that take sustainability, risk and growth into account.

“A partnership of this nature will allow us to further develop and support SMEs and other businesses with the appropriate products such as business loans and commercial property development finance,” adds Inkumbi.

Sustainability forms an integral part of the business models of both entities.

The DBN has prioritised sustainable business practices since its inception. This entails providing responsible financing while gaining the best possible financial returns and contributing to improved outcomes for clients, the environment, and society at large.

This is in line with Norsad Capital’s impact investment focus on the United Nations’ Sustainable Development Goals. Norsad Capital aspires to be a thematic impact investor selecting investments that clearly contribute to addressing social and environmental concerns while working towards their goal of impacting 100 million lives by 2030.

With a shared focus on contributing to sustainability and social development, this partnership will have a positive impact on the lives of the people of Namibia.

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 About Norsad Capital

Norsad Capital is an impact investor and private credit provider offering tailor-made debt solutions to profitable growth-stage companies that deliver desirable social and environmental impact. With a  track record spanning over 33 years, Norsad Capital has invested over USD 500 million in more than 150 companies across the continent.

About The  Development Bank of Namibia

The Development Bank of Namibia is mandated to contribute to the development of Namibia and the socio-economic wellbeing of its citizens.

Norsad Capital, an impact investor and private credit provider, has structured a ZAR100m revolving debt facility to Lakutshona Housing Company (Pty) Ltd, a well-established property company in the Western Cape, South Africa, that owns, develops and manages property.

Access to adequate and affordable housing in South Africa continues to be a persistent challenge faced by the country’s populace. Despite the government efforts to provide subsidised housing to the low-income population, as of 2021 there was an estimated housing shortage of 3.7 million units, with a continued growth rate of 178,000 year on year. An estimated 12.5 million people, 12.7% of households in South Africa, reside in informal dwellings, suggesting that a significant proportion of the population resides in living conditions characterised by poor housing facilities and lack of access to basic services such as water and sanitation. The growing housing shortages and inadequacies also contribute to economic losses as the workforce’s living conditions negatively contribute to their well-being, health and access to essential services and amenities.

Carol-Jean Harward, Investment Director at Norsad Capital and transaction lead said: “This funding presents a unique opportunity for Norsad, in partnership with Lakutshona Housing Company, to provide affordable housing to the South African middle-income demographic. The investment is aligned with Norsad sector focus on soft and social infrastructure and strategic lever of deepening investment into South Africa. It also ensures the realisation of SDG11 on ensuring access to adequate, safe, and affordable housing for all.

Kobus Le Roux, Owner, and Founder said: “The transaction happened at a time when there is significant demand for affordable housing in Western Cape, especially the Paarl region. The funding will be used for the development of affordable residential property in Paarl which will eventually consist of 441 residential units delivered through a phased approach. Lakutshona is very pleased to partner with Norsad, a reputable impact investor, on this project. By investing in affordable housing projects, Norsad plays a critical role which serves basic human needs of access to decent shelter which is crucial for wellbeing and prosperity of individuals and society at large.”

About Norsad Capital

Norsad Capital is an impact investor providing tailormade debt solutions to mid-market growth companies in Sub-Saharan Africa. With a track record spanning over 33 years, Norsad Capital has invested in 150+ companies across the continent. For more information:  www.norsadcapital.com

About Lakutshona

Lakutshona Housing Company (Pty) Ltd is a well-established Company that owns, develops, and manages property, as well as providing Housing solutions in South Africa.

Originally established to develop a housing model for the assistance of Kumba Iron Ore employees to obtain accommodation and promote home ownership that suited their various affordability levels by offering Rental Units and promoting home ownership, has since grown, and developed steadily in the last more than 18 years.

Today Lakutshona Housing Company (Pty) Ltd manages their own portfolio of 320+ houses in the Northern Cape as well as Sectional Title rental units in the Winelands town of Paarl in the Western Cape. Additionally, the business also manages and maintains a Kumba Iron Ore portfolio of more than 900 units on behalf of the Mining Company.

Here’s a look into Norsad Capital’s 2022 Impact Report (https://lnkd.in/g-ZeR_-Y) Launch that took place in April.

Our 2022 Impact Report Launch took place on Wednesday 26 April at The Leonardo in Sandton, Johannesburg. We are proud to showcase the positive impact made possible by our commitment to sustainable development in Africa, as we make our way to transforming 100 million African lives by 2030.

The event marked a significant milestone in our journey towards making evermore meaningful impact investments across the continent. We are grateful for the continued support of our partners and stakeholders who are key to our continued success.

MOU signing aimed at supporting Zambian businesses and improving social impact

 

[Lusaka] 28 March 2023 – The Development Bank of Zambia (DBZ) today signed a Memorandum of Understanding with Norsad Capital, an impact investor and private credit provider offering tailor-made debt solutions to profitable growth-stage companies. The move promises to bolster direct investment into Zambia by supporting businesses that are committed to positive social impact.

Zambia, one of the youngest countries in the world based on median age, is undergoing a rapid demographic shift; this presents a unique opportunity for economic growth. The MOU solidifies this possibility, as growth initiatives are a key focus of Norsad Capital.

Speaking at the MoU signing ceremony at Lusaka’s Hilton Garden Inn, the DBZ’s Acting Managing Director, Maybin Muyawala said this cooperation agreement couldn’t come at a better time. “We are confident that this move will bring a much-needed injection into Zambia’s economic landscape.”

The Zambian economy rebounded in 2021, with GDP expanding by 4.6%, after contracting by 2.8% in 2020 due to various macroeconomic events. The MoU aims to contribute to the growth of the Zambian economy.

“Ultimately, both our institutions are focused on providing much-needed capital to businesses which can be used to promote economic growth and improve the lives of the people in Zambia and Africa at large,” added Muyawala.

According to the terms of the partnership, the parties will coordinate on large deals, share contacts for possible business, and split an investment opportunity if the amount needed exceeds the financing capacity available from each side.

Norsad Capital, which identifies itself as an impact investor with a focus on the Sustainable Development Goals (SDGs) of the United Nations, aspires to be a thematic impact investor that selects investments that clearly contribute to addressing social and environmental concerns. This is consistent with the DBZ’s objective to address inadequate and expensive access to capital for investment and to eliminate micro-level structural rigidities that impede public and private investment development, productivity, wealth generation, and job creation.

“Both our organisations share the same passion for ensuring that African businesses can thrive and succeed despite prevailing circumstances. Our agreement, therefore, ensures that we can, in partnership, simultaneously maximise deal flow and social impact in Zambia,” said Kenny Nwosu, CEO at Norsad Capital.

A particularly important element of the MoU is that both parties will support each other in working to further promote the private sector’s role in growing the Zambian economy as highlighted by Nwosu who adds, “We wish to encourage good corporate governance to promote sustainable private sector investment in Zambia.”

Nwosu also added that this also serves as an opportunity for Norsad Capital to plough back into its birthplace. “It’s a full circle moment, really. Norsad was first established right here in Zambia in 1990, as a collaboration between the Nordic and Southern African Development Community (SADC) governments, and it operated as a multilateral agency based in Lusaka, Zambia.

 In 2011, we transformed into a limited liability company, Norsad Finance, incorporated in Botswana and accredited by the International Financial Services Centre. And here we are, in 2022, having rebranded to Norsad Capital in line with our strategy to scale and deepen our impact throughout the continent.”

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About Norsad Capital

Norsad Capital is an impact investor and private credit provider offering tailor-made debt solutions to profitable growth-stage companies that deliver desirable social and environmental impact. With a track record spanning over 33 years, Norsad Capital has invested over USD 500 million in more than 150 companies across the continent. 

About The Development Bank of Zambia

The Development Bank of Zambia (DBZ) is a Development Finance Institution (DFI) mandated through the Development Bank of Zambia Act, to provide long, medium and short term finance and equity investment, provide technical assistance and advisory services for the purpose of promoting economic development. DBZ has invested over USD300 million in over 350 companies since inception.