The State of Small Business

New Norsad brand to reflect the sub-Saharan growth strategy of the business!

Chief executive Kenny Nwosu: Norsad Capital is embarking on a growth strategy that will make a palpable and far-reaching difference to millions.

Impact investor Norsad Finance is rebranding to Norsad Capital.

This rebranding is in line with the company’s strategic growth levers: to widen the footprint of Norsad in the Southern African region; to diversify operations in sub-Saharan Africa; and to expand the sustainable infrastructure finance offering of the business.

Chief executive Kenny Nwosu says these growth levers will drive the impact of Norsad Capital over the next decade, inform the rebranding and take Norsad into new territories and forms of financing, to change the very nature of the business from a financing resource to a provider of capital for sustainable, social impact-focused growth on the African subcontinent.

The growth strategy to scale and deepen its impact is set to entrench Norsad Capital as the premium private debt provider servicing African businesses that prioritise sustainable social development.

“The revised and refreshed Norsad Capital brand aligns with our objective of powering growth across sub-Saharan Africa by providing longer-term risk capital to companies that are financially, socially and environmentally sustainable. We have identified markets for expansion, and we embark on our growth strategy confident that we will make a palpable and far-reaching difference to millions,” Nwosu says.

To date, Norsad Capital has invested over US$500 million in more than 150 businesses across 12 Southern African countries. This includes a US$5.1 million investment in African Boomerang Holdings for the production of personal protective equipment to manage the Covid pandemic. This investment provided the regional market with locally manufactured goods to the value of US$13.4 million. It supports more than 400 jobs, of which 183 are occupied by women.

Norsad’s US$10 million investment in Zimbabwe-listed investment holding company FBC Holdings facilitated a successful recapitalisation programme for the commercial banking subsidiary and SMME support initiatives. FBC Holdings champions financial literacy training for clients, budget training and debt management. Most of its clients (up to 92%) are previously unbanked individuals, and last year FBC Holdings issued small, medium and micro-enterprise loans worth more than US$374 million. Nearly a fifth of these were to women entrepreneurs.

Other Norsad investments include a US$10 million investment in African Milling Limited which provides 2,998 jobs of which 40% are held by women, and resulted in procurement of locally produced goods totalling US$40.6 million to date.

A US$5 million Norsad investment in pan-African school network Nova Pioneer supports 341 jobs in education and provides valuable access to education at affordable rates. It also provides scholarships to less privileged students.

Norsad Capital is backed by a combination of Nordic and African investors. These include the European Development Finance Institutions – Finnfund, IFU, Norfund and Swedfund, and a number of African investors including the Development Bank of Angola, the Development Bank of Namibia, CEDA Botswana (the Citizen Entrepreneurial Development Agency), the Development Bank of Zambia, and others.

Investment focus is on impact projects: services and products that focus on renewable energy; food value chain related enterprises; initiatives in education; and financial services providers that deliver accessible, inclusive services.

“Our purpose is to build a better Africa through providing capital to initiatives and businesses whose goals focus as much on sustainability as they do on profit. With the rebranding comes a fresh focus on capital provision for sustainable growth. Norsad Capital is looking to the future, unlocking new opportunities, leading by example and committed to a business model – that has partnerships and diversity at its core – that delivers exceptional results for the continent we are deeply invested in,” says Nwosu.


Mzukona Mantshontsho is the founder of Nyakaza Media Solutions. Nyakaza Media Solutions is an organisation that was established to help community organisations, business entities, and schools to research, write, document, report, analyse, edit, publish newsletters or bulletins in hard-copy, on-line and maintain websites with the relevant content as per the editorial policy of that organisation, school or entity. Nyakaza Media Solutions has a vision to promote and bring dialogue to communities, businesses and schools about issues that affect them. Nyakaza Media Solutions is on a mission to develop and encourage communities, businesses and learners to celebrate the good, applaud excellence, welcome growth, strive to be better individuals, businesses and communities, want more knowledge, discourage bad and counter-productive behaviour as well as communities, businesses and learners that want to be great SOUTH AFRICANS. Nyakaza Media Solutions is making use of Yo School Magazine as a platform that learners in all schools to make use of to write their stories.

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