• About
  • Privacy Policy
  • Careers
  • Manage Subscriptions
Sunday, September 24, 2023
TechEconomy
Advertisement
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Phones
      • Apps
      • Gadgets and Appliances
      • Accessories
      • Laptop
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Partners
    • Editorial
  • Podcast
  • TECHECONOMY TV
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Phones
      • Apps
      • Gadgets and Appliances
      • Accessories
      • Laptop
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Partners
    • Editorial
  • Podcast
  • TECHECONOMY TV
No Result
View All Result
Techeconomy
No Result
View All Result

Home » Nordic Microfinance Initiative Now Abler Nordic, Set for Fund V

Nordic Microfinance Initiative Now Abler Nordic, Set for Fund V

Joan Aimuengheuwa by Joan Aimuengheuwa
February 22, 2023
in Finance
0
Nordic Microfinance Initiative Now Abler Nordic, Set for Fund V
L-r: Godfrey Kaindoh Investment Director- Africa, Abler Nordic; Arthur Sletteberg – CEO and Managing Director, Abler Nordic; Mwangi Githaiga – Managing Director, KWFT and Nigel Smith - Head of Strategy and Deal Advisory, KPMG East Africa

L-r: Godfrey Kaindoh Investment Director- Africa, Abler Nordic; Arthur Sletteberg – CEO and Managing Director, Abler Nordic; Mwangi Githaiga – Managing Director, KWFT and Nigel Smith - Head of Strategy and Deal Advisory, KPMG East Africa

Sifax
Advertisements

Focused on financial inclusion across sub-Saharan Africa and Asia, Nordic Microfinance Initiative has rebranded to Abler Nordic as it kicks off fundraising for latest Fund V.

Speaking on the new development, Arthur Sletteberg, Managing Director at Abler Nordic said sub-Saharan Africa is one of the firm’s key regions, and will continue its growth under the new name and new fund. 

He further explained that Global poverty has risen for the first time in 20 years and low-income people in Africa are among the hardest hit by climate threats, despite contributing very little to global greenhouse gas emissions.

RelatedPosts

Nathaniel Nyika on Debt Financing in Africa

Why Debt Financing is so Important for the African Business Market

September 22, 2023

CBN Launches Portal for Seamless Licensing of Microfinance Bank

September 21, 2023

“Access to a wide range of financial services such as savings, agricultural financing, and insurance in addition to microcredit helps low-income people adapt and manage economic and climate shocks. Our new name reflects our company’s overall goal to help low-income households gain access to these types of relevant financial services so that they can lay a foundation for a better life,” he said.

At Abler Nordic, public investment capital from the Norwegian and Danish governmental funds for developing countries, Norfund and IFU respectively, is blended with commercial capital from private investors. Abler Nordic has invested a total of over $34 million in Sub-Saharan Africa, with current investments of $17.5 million.

Foreign Exchange Facilities, funded by the Norwegian Ministry of Foreign Affairs, enable Abler Nordic to provide capital in local currency and have been instrumental in securing both equity and debt investments in Sub-Saharan Africa of $27 million where hedging conditions otherwise would limit such investments.

“The opportunities for inclusive economic growth in Sub-Saharan Africa are vast, but more risk-willing investment capital is needed. At Abler Nordic we do not invest where it is easiest or where risk is lowest, but where we believe we can achieve the biggest social impact alongside sustainable financial returns. I am looking forward to continuing to partner with our African portfolio companies—alongside our Kenya-based team—and seeking new investment opportunities as we continue to grow in Africa,” said Godfrey Kaindoh, Investment Director and Head of Abler Nordic’s Africa office.

A committed and long-term investor with a tailor-made approach, Abler Nordic plays an active role in the development of the five Sub-Saharan African financial inclusion organisations it is currently directly invested in Juhudi Kilimo (Kenya), Kenya Women Microfinance Bank, Baobab Group (Senegal, Ivory Coast, Mali, Burkina Faso, Nigeria, Tunisia, DRC, and Madagascar), Baobab Senegal, and Tugende (Uganda and Kenya). 

Abler Nordic holds board seats at all its equity investments and partners with portfolio companies to create value and support sustainable growth to help them achieve their mission.

Today, Abler Nordic’s global portfolio companies reach 9.4 million customers, 93 percent of whom are women and 71 percent living in rural areas. Women often face systemic barriers in accessing formal financial products, and rural areas are often the last to be financially served, due in part to infrastructure challenges.

In Sub-Saharan Africa, 90 percent of loans are given for income-generating purposes, which allow both rural and urban households to start and grow small businesses and improve their quality of life through increased spending on healthcare, education, and home improvements. Since inception in 2008, over 12 million customers globally have been supported with access to responsible financial services through Abler Nordic’s investments.

 

Advertisements
innovation
AIT
Advertisements
Tags: Abler NordicArthur SlettebergGodfrey KaindohNordic Microfinance Initiative
ShareTweetSend
Previous Post

NITDA, FIRS Seek Stakeholders’ Support via Prompt Payment of Levy to Speed Up Deliverables

Next Post

With Orodata’s MyCandidate Platform You Can Find Out Who to Vote for

Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Related Posts

Nathaniel Nyika on Debt Financing in Africa
Finance

Why Debt Financing is so Important for the African Business Market

by Techeconomy
September 22, 2023
0

Writer: NATHANIEL NYIKA, Chief Investment Officer at Norsad Capital Small and medium-sized enterprises (SMEs) are the beating heart of Africa’s...

Read more
microfinance banks

CBN Launches Portal for Seamless Licensing of Microfinance Bank

September 21, 2023
Interswitch and Tax

Interswitch Leads the Charge towards Revolutionizing Tax Collection in Nigeria

September 20, 2023
Lagos State Debt burden

Lagos, Kaduna, Edo Top States with Highest External Debt

September 20, 2023
Governor Charles Soludo on Anambra Budget

AUTOMATION: Anambra’s Budget Ministry Conducts User Acceptability Test for Stakeholders

September 19, 2023
Nigeria in revenue crisis - Naira

Nigeria in Revenue Crisis, New FIRS Boss Laments

September 19, 2023
Next Post
Orodata MyCandidate Platform

With Orodata's MyCandidate Platform You Can Find Out Who to Vote for

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisements
Ad 15
Insurance Meet Tech
Advertisements
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
​Sodiq Tijani Toju Africa

Meet Sodiq Tijani, a Product Expert and Entrepreneur Banking the Unbanked

March 2, 2023
Product Led vs Sales Led Business Models

Product Led vs Sales Led Business Models: What Startups Should Know

January 10, 2023
Samsung Galayx A04e - Cheapest Samsung Phones in 2023

Cheapest Samsung Phones in 2023

September 11, 2023
Sodiq Tijani Youcloudpay

How Sodiq Tijani is Empowering African SMEs for Economic Growth

February 9, 2022
Google Cybersecurity Scholarship

Google Recognizes Shortage of Cybersecurity Experts in Africa, Announces Scholarships

22

Ad Dynamo Has Eyes on Nigeria – CEO

19

Digital Marketing in Africa: Bringing Much-Needed Skills to Nigeria’s Youth

16

Ad Dynamo by Aleph Group Launches free Digital Academy

14
QoS - Drop Call Rate among MTN Airtel 9mobile and Glo

QoS: Drop Calls Rates for MTN | Glo | Airtel | 9Mobile by Enextgen

September 23, 2023
Emirates aircraft

Emirates to Scale up London Heathrow Flights from October

September 23, 2023
Dr Obiageli Ezekwesili, founder of Human Capital Africa at UNGA

Note from the Human Capital Africa Foundational Learning Roundtable at UNGA

September 23, 2023
NCC Talent Hunt through Hackathon

NCC Extends Submission of Application for Hackathon to September 30

September 23, 2023

Follow Us

APPLY

NCC Talent Hunt through Hackathon
Apply

NCC Extends Submission of Application for Hackathon to September 30

by Admin
September 23, 2023
0

The Nigerian Communications Commission (NCC) has extended the deadline for submission of applications and entries into the 2023 Talent Hunt...

Read more

WomenPreneurs

Hiring in South Africa by Jessica Hawkey redAcademy
WomenPreneurs

Women in Business: Q&A with Jessica Hawkey, Founder & MD of redAcademy

by Techeconomy
August 22, 2023
0

"Jessica Hawkey is the Managing Director of redAcademy"

Read more

BusinesSENSE For SMEs

Managing Difficult Customer
BusinesSENSE For SMEs

Five Keys to Managing Difficult Customers

by Techeconomy
August 23, 2023
0

You will at one point in your business be confronted with dealing with difficult customers. So, mastering the right strategies...

Read more
  • About Us
  • Career
  • Contact Us
  • Policy

© 2023 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Phones
      • Apps
      • Gadgets and Appliances
      • Accessories
      • Laptop
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Partners
    • Editorial
  • Podcast
  • TECHECONOMY TV

© 2023 Techeconomy - Designed by Opimedia.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.