Norsad Scores A+ in Strategy and Governance

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Norsad Scores A+ in Strategy and Governance

The Principles for Responsible Investment (UNPRI or PRI) is a United Nations supported international network and the world’s leading advocate supporting responsible investors. It has over 3,200 global signatories. The PRI annual reporting framework evaluates our Responsible Investing (RI) progress against best industry-standard framework, benchmarks our performance against peers and supports signatories on strengthening internal processes and building ESG capacity.

We are pleased to inform that in this year’s 2020 Assessment Report, Norsad Finance has been awarded the highest rating of A+ for our Strategy and Governance, and we have outperformed our peers in all reporting categories. Norsad has been investing for impact for over 30 years and this rating is authoritative testimony that as an impact investor, we are committed to incorporating ESG considerations and features into our investment process and throughout all our business activities.

This achievement is in line with our efforts to continually improve our commitment to ESG and advance our Impact strategy towards fulfillment of our massive transformative purpose of ‘Building a Better Africa’.

Norsad – Specialist Investor of the Year 2020

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We are proud to announce that in line with our mission of being “the premier provider of customised longer-term risk capital to Southern African companies and financial services providers that are financially, socially and environmentally sustainable,” Norsad has been recognised at the Private Equity Africa Awards 2020, as the winner of the Specialist Investor of the Year under the Regional and Specialist Investors category.

Click to here to download/view award certificate.

Norsad invests in Nova Pioneer Education

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Norsad Finance Limited, an impact investor providing structured financing solutions to mid-market growth companies in Southern Africa, has provided a long-term debt facility to Nova Pioneer Education Group, a regional education group with a footprint in sub-Saharan Africa. The facility will help fund the expansion of some of its existing property sites to accommodate new learners.

Quality and affordable education is an important social infrastructure and hence partnering with a regional education group such as Nova Pioneer is a tremendous step in our journey towards achieving our purpose of building a better Africa. Quality education is a UN Sustainable Development Goal (SDG 4) as it is instrumental to reducing inequalities and poverty for future generations. Norsad endeavours to invest in companies and sectors that are aligned with the SDGs.

Nova Pioneer Education Group operates a total of 13 independent schools (Grade K to Grade 12) in South Africa and Kenya and has a total of 4,400 learners. Founded in 2014, the group intends to grow its footprint to the rest of sub Saharan Africa. Using its teaching methods that inculcate critical thinking and innovation, the schools’ academic model is based on students learning by creating and exploring, rather than memorizing and hence producing graduates ready for 21st century jobs. Other significant investors in Nova Pioneer include Toronto listed Fairfax Africa Holdings Corporation.

Chinezi Chijioke,  Founder and CEO of Nova Pioneer Education Group said: “The funding from Norsad contributes meaningfully to the ability of Nova Pioneer to deliver on its mission and we look forward to building a partnership with Norsad that delivers positive impact across Africa through education””

Oteng Sebonego, Investment Director at Norsad, lead in the transaction said: “We are delighted to partner with Nova Pioneer as an education platform which we would like to support in its regional growth and achieving its vision which is linked to our purpose of building a better Africa.”

About Norsad Finance

Norsad Finance is an impact investor offering bespoke stretch debt and mezzanine finance solutions to mid-market growth companies in Southern Africa. The firm has a 30-year track record of investing in Southern Africa and is backed by the Nordic Development Finance Institutions (namely Norfund, Finnfund, Swedfund and IFU) and SADC Developmental financial institutions.

Norsad contributes P1 million to Covid-19 Relief

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Norsad Finance acknowledges the significant impact of the Covid-19 pandemic on all our lives and businesses and the on-going collective efforts and initiatives in combating the crisis. This collective fight has aligned many across our markets, who are making a difference in the fight against Covid-19 with notable mentions of all first responders, healthcare and other essential workers.

To support these efforts, Norsad will extend support through direct and indirect contributions towards addressing the impact of Covid-19 in our markets. We have extended contributions to the Botswana Covid-19 Relief Fund as well as additional funding for other pandemic related initiatives and support for vulnerable groups in society. In addition to increased Corporate Social Responsibility initiatives, Norsad is providing enhanced ESG support and sharing best practices and related information with our investee companies and facility repayment relief measures.

Norsad Chief Executive Officer, Mr Kenny Nwosu, said, “As an impact investor, Norsad takes an active interest in supporting the communities where we operate. In line with our purpose of Building a better Africa, we are deeply committed to supporting not only our existing clients through this crisis, but to offer our services to viable new clients as we emerge from these challenges. In this regard, Norsad remains open for business with our employees fully operational from the safety of their homes”.

Norsad Finance is an impact investor that provides long-term risk capital to sustainable mid-market growth companies across the Southern African (SADC) region.

Further information on www.norsadfinance.com

COVID-19: Norsad remains open for business

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We note the significant impact of the COVID-19 pandemic on our lives and businesses and in alignment with our purpose of building a better Africa, we continue to work with our clients and partners through these uncertain times.

These are challenging times and the well-being of our people is of utmost importance. Norsad Finance Limited has initiated resilience and response protocols aimed at protecting the health and safety of our staff and partners, as well as ensuring we continue to deliver services with minimal business interruptions. Hence, we have commenced the process of remote working for our staff and continue to engage our key suppliers to ensure there are no gaps in our services.

In context of the noted interventions, we maintain the usual opening hours and request that you please contact us via email, telephone or arrange virtual meetings. Direct contact details for all Norsad staff are accessible here and all our teams will continue to assist and offer available support to our clients and partners during this challenging period.

We will continue to monitor and evaluate the impact of COVID-19 across our markets and will adjust our risk measures and approach to any changing developments, and will update our website with any such changes.

Norsad provides ZAR 150 million to Grobank

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Norsad Finance Limited, an impact investor providing structured financing solutions to mid-market growth companies in Southern Africa, has availed a ZAR 150 million (circa. USD 10 million) medium-term facility to the South Africa specialised commercial agricultural bank, Grobank Limited. This facility is Norsad’s second investment in South Africa and further supports its diversification across the Southern Africa region.

Grobank Limited is a banking institution focusing on the full value-chain of the food and agriculture sector from farm to table. Grobank is wholly owned by GroCapital Holdings, a partnership between the agricultural group, AFGRI Group Holdings; the Toronto listed financial services holding company, Fairfax Africa Fund LLC and; the Government Employees’ Pension Fund. Grobank’s partnership with its shareholders has seen the bank evolve its offering to take advantage of their shared knowledge of business banking, the niche alliance banking offering and the food and agriculture industry.

Norsad’s investment is earmarked for expansion of the agricultural banking business, supporting Grobank’s strategy in the sector. As an impact investor, food security and financial inclusion are at the core of Norsad’s objectives. This is also aligned with the Southern African Development Community (SADC) Regional Indicative Strategic Development Plan (RISDP) on sustainable food security and the UN Sustainable Development Goal (SDG) on Zero Hunger. Integrated agriculture and financial institutions are amongst Norsad’s preferred sectors and Norsad Finance has a portfolio of investments within these sectors in other SADC countries including Angola, Botswana, eSwatini, Mauritius, Mozambique, Namibia, Zambia and Zimbabwe.

Meraki Capital acted as financial advisor and funding arranger to Grobank on the facility.  Meraki Capital has deep experience in advising financial institutions across the continent.

Bennie van Rooy, CEO of Grobank said: “Grobank is proud of its association with Norsad and honoured to partner with an institution that is equally passionate as we are about the food and agricultural space. We look forward to build and strengthen this partnership to ultimately benefit the sector and contribute to food security across the continent”

Marisa Meyer, Managing Director at Meraki Capital said: “In support of its food and business offering, this transaction strengthens Grobank’s ability to invest in the world’s largest and arguably its most important market, agriculture, especially with the renewed focus on food security, socio-economic progress and sustainability.”

Zubair Suliman, Investment Director at Norsad Finance, lead in the transaction said: “We are delighted to partner Grobank in their strategy to support the full value-chain of the food and agriculture sector. Agribusiness is one of the mainstays of the South African economy and this facility further strengthens food security and generates foreign income through exports.”

About Grobank

Grobank first entered the market in 1947, as the South African Bank of Athens, and today operates as a commercial specialist bank across every area of the food and agriculture sector value chain, whilst also offering an expanding range of capabilities and services to businesses outside of this sector. Grobank’s food, agriculture and business banking division coupled with Alliance Banking, enables Grobank to offer a holistic banking offering.  More information at www.grobank.co.za

About Meraki Capital

Meraki Capital is a pan African corporate finance firm offering advisory services and capital solutions across sub-Sahara Africa.  More information at www.merakicapital.co.za

About Norsad Finance

Norsad Finance is an impact investor offering bespoke stretch debt and mezzanine finance solutions to mid-market growth companies in Southern Africa. Norsad has a 30-year track record of investing in the Southern Africa region and is backed by Nordic Development Finance Institutions (namely Finnfund, IFU, Norfund and Swedfund) and regional financial institutions. More information at www.norsadfinance.com

Principles for Responsible Investment Breakfast

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Norsad Finance recently co-sponsored the United Nations Principles for Responsible Investment (“PRI”) Investor Breakfast held in Gaborone, under the theme “Environmental, Social and Governance (“ESG”) Integration and Responsible Investment: What Investors Need to Know,”. This collaboration brought together various key stakeholders to impart knowledge on the need to make responsible investment decisions through the integration of ESG standards, and bolster a stronger culture of ESG practice for local asset owners. The platform was a unique educational interactive dialogue.

Nicole Martens (Head of Africa and Middle East at PRI), explored trends with regards to climate change and responsible investment, active ownership, responsible investment approaches and tools and resources for responsible investment.

Khumoetsile Sekucha, Portfolio and Risk Director at Norsad, informed participants that “Active ownership is regarded as one of the most effective mechanisms to reduce risks, maximise returns and have a positive impact on society and the environment.’’ She further articulated that this will in turn enhance knowledge of investors on specific issues, resulting in them making more informed and impactful investment decisions.

Tshepho Mpolokeng, Portfolio Manager at Norsad Finance, on providing an overview of Norsad’s responsible investment approach, highlighted that incorporating ESG into the investment appraisal process can directly or indirectly have a positive impact on the top and bottom line of a portfolio company, reduce operational risk and improve overall asset quality in the long run.

Norsad 2nd Edition CBD Blood Donation Drive

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Norsad Finance held its second edition of the annual Central Business District (CBD) Blood donation drive on 06 July 2019 at the Three Dikgosi Monument in Gaborone, Botswana in view of the chronic shortage of blood in the country. The event saw Norsad partnering with the National Blood Transfusion Services (NBTS) and other stakeholders namely, Food Lovers Market, SADC DFRC and Glen Valley Youth Club. This year’s event was held under the theme ‘Safe Blood for All’. The set target of 100 pints of blood was exceeded with 101 pints collected and represents double the amount collected in the first edition of the blood drive.

Norsad unveils new headquarters

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On 4th April 2019, Norsad reached another milestone in its journey with the unveiling of the new Norsad Finance Limited Head Office in the Central Business District of Gaborone, Botswana.

During the official welcome of guests, Norsad Finance Chief Executive, Mr. Kenny Nwosu acquainted all with Norsad’s rich history in the Southern African region which dates back to 1990. He informed that for over 20 years, Norsad operated as a Nordic-SADC multilateral agency based in Lusaka, Zambia and provided funding in the SADC region to enterprises deemed financially, socially and environmentally sustainable. He further noted that the relocation to Gaborone, Botswana, as a mainland Financial Services Centre in 2012, was strategic in establishing the ‘new Norsad’ as a premier provider of complementary financing, including bespoke debt and mezzanine financing solutions, to growth companies and financial institutions that achieve significant impact.

Norsad Finance is head quartered at Plot 54366 Peelo House, Western Commercial Road, Central Business District, Gaborone, Botswana and is a registered IFSC Company administered by BITC and regulated by NBFIRA. Norsad has a Representative Office in Johannesburg, South Africa and a total staff compliment of 21 in both offices.

Norsad Relocates to Botswana | Business News

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Norsad Finance has relocated to Botswana. After more than 20 years of operating in Lusaka, Zambia, the institution now operates from Gaborone’s new central business district not too far from the iconic I-towers building.

The move follows the transformation of the former multilateral entity, NORSAD Fund, which has been incorporated as a limited liability company in Botswana and is accredited to International Financial Services Centre (IFSC).

The Norsad Finance office in Lusaka was closed down at the end of December 2012.The investment professional team and office equipment was relocated to Gaborone during the Christmas break 2012. The new office opened its doors in the middle of January 2013.

As part of the growth strategy the company adopted in 2012, four additional Batswana investment professionals were recruited at the beginning of 2013.