MULTINATIONAL - Norsad Capital Limited (NORSAD)


Project Summary

Approval Date 22 Jun 2022
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 22,594,104.45
Status Approved

Project General Description

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.

Project Objectives

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.

Beneficiaries

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.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-Z1-HB0-073
Last Update 14 Aug 2022

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Contact Details

Email private-sector@afdb.org

Geographic Location

Country Multinational