|Approval Date||22 Jun 2022|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The proposal is for provision of a Line of Credit to Norsad Capital Limited (Norsad) for the financing of private enterprises in agro-processing, healthcare, financial services, manufacturing, ICT and education. The proposed Bank support will assist in improving access to much needed long-term financing for mid-sized enterprises and SMEs in the SADC region, during a period when extension of credit to the segment is severely constrained as a result of the adverse economic effects of the COVID-19 pandemic. In an effort to improve access to finance for Women SMEs through Norsad, the Bank through the AFAWA program will provide Technical Assistance (TA) to Norsad and its non-bank financial institution (NBFI) clients.
The project development objective providing alternative bespoke financing solutions to SADC mid-growth companies and financial service providers in sectors including renewable energy, healthcare, housing, agriculture, education and hospitality as a mean to stimulate financial inclusion, job creation, diversify economies and boost inclusive economic growth in the SADC region.
This line of credit will benefit Norsad and its beneficiaries, financial and non-financial beneficiary institutions, in improving access to finance for women-owned businesses.
African Development Bank
|Last Update||14 Aug 2022|