Thursday, July 9, 2020

Norsad Finance ground-breaks its head office in Botswana

BY CALISTUS BOSALETSWE

The ground-breaking of Norsad Finance’s new head office in Botswana has been hailed as move that demonstrate long commitment to investment in the country.

Norsad came into existence in early 1990’s in Southern African region operated as a Nordic-SADC multilateral based in Lusaka ÔÇô Zambia. At the time, the institution provided funding in the SADC region to enterprises deemed financially, socially and environmentally sustainable.  It then relocated to Botswana in 2012.

CEDA Chief Executive Officer – Thabo Thamane who was a guest speaker emphasised that the groundbreaking of Norsad offices demonstrates the institution’s long-term commitment to Botswana.

CEDA has vested interest in Norsad Finance as it is one of the SADC based shareholders in the company.

“As Shareholders, we are very delighted with our investment in Norsad and have seen the transformation and growth of the company over the years. We have also been privy to the value Norsad has brought through contribution to revenues such as payment of dividends to CEDA, taxes, other statutory payments and the overall benefit of an entity such as Norsad operating in our market,” noted Thamane.

Norsad Finance Limited Chief Executive Officer – Kenny Nwosu noted that creating the new head office was a significant project since Norsad envisaged to accommodate its expansion plans over the next decade.

“I am pleased to note that Norsad Finance is now more widely recognised for its impact in the region. Our mission to impact growth and development is catalytic and extends well-beyond efforts directly attributable to Norsad”, Nwosu said.

It has been reported that Norsad Finance currently has an asset base of about BWP 1.5 billion equivalent and investments in 10 countries with over 10,000 supported and sustained jobs in our portfolio companies.

Nwosu emphasised that company’s future involves scaling their business and their quest for growth will be built on a foundation that is ‘PARTNERSHIP’ based.

In Botswana, Nwosu said the company will look into intensifying its efforts that will drive the country’s ‘Economic Diversification Drive’ agenda through the support of the private sector development at the forefront.

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