{"id":84957,"date":"2023-02-24T15:37:02","date_gmt":"2023-02-24T15:37:02","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/abler-nordic-looking-to-raise-sh18billion-for-expansion"},"modified":"2023-02-24T16:00:16","modified_gmt":"2023-02-24T16:00:16","slug":"abler-nordic-looking-to-raise-sh18billion-for-expansion","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/abler-nordic-looking-to-raise-sh18billion-for-expansion","title":{"rendered":"Abler Nordic looking to raise Sh18billion for expansion"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Abler Nordic will commence fundraising for Fund V in 2023, with the ambition of raising at least $140 million (Sh17.7 billion) and a significant allocation for further investments in Kenya and Sub-Saharan Africa.<\/p>\n

This will be part of the firm\u2019s efforts to increase its footprint in Kenya with investments in more microfinance institutions.<\/p>\n

Formerly Nordic Microfinance, the firm has been deploying currency to local microfinance institutions in local denominations, in a bid to cushion them from high repayment that may be associated with international currency changes.<\/p>\n

The Investments Director and Head of Abler Nordic\u2019s Kenya office Godfrey Kaindoh told The Star that they are looking to tap into more businesses in Kenya that are serving financial inclusion.<\/p>\n

\u201cCurrently we own 10.6 percent stake in Kenya Women Finance Trust (KWFT) and 40 percent in Juhudi Kilimo. Others are in the pipeline but I can\u2019t disclose them because of the confidentiality of the transaction. But we have two or three 3 that we will close in the near future,\u201d said Kaindoh.<\/p>\n

Up to now, the company has invested over $34 million (Sh4.3 billion) in Sub-Saharan Africa, with $16.4 million (Sh2.08 billion) invested in Kenya in three companies.<\/p>\n

The firm says the operating model is such that they (investors) have to take the loss in the case of a deterioration in the Kenyan shilling.<\/p>\n

Abler Nordic\u2019s managing director Arthur Sletteberg said the firm has had to incur an aggregated loss of $16,000 (Sh2 million).<\/p>\n

The renewed expansion comes after the firm announced a change of name from Nordic Microfinance Initiative to Abler Nordic.<\/p>\n

\u201cThe opportunities for inclusive economic growth in Sub-Saharan Africa are vast, yet more risk-willing investment capital is needed,\u201d added Kaindoh.<\/p>\n

In Sub-Saharan Africa, 90 per cent 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.<\/p>\n

\u201cAccess to a wide range of financial services such as savings, agricultural financing, and insurance in addition to microcredit can help low-income people adapt and manage economic and climate shocks,\u201d said Sletteberg.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Abler Nordic will commence fundraising for Fund V in 2023, with the ambition of raising at least $140 million (Sh17.7 billion) and a significant allocation for further investments in Kenya and Sub-Saharan Africa. This will be part of the firm\u2019s efforts to increase its footprint in Kenya with investments in more microfinance […]<\/p>\n","protected":false},"author":84,"featured_media":84955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-84957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nAbler Nordic looking to raise Sh18billion for expansion - kenya<\/title>\n<meta name=\"description\" content=\"Abler Nordic will commence fundraising for Fund V in 2023, with the ambition of raising at least $140 million (Sh17.7 bi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/abler-nordic-looking-to-raise-sh18billion-for-expansion\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abler Nordic looking to raise Sh18billion for expansion\" \/>\n<meta property=\"og:description\" content=\"Abler Nordic will commence fundraising for Fund V in 2023, with the ambition of raising at least $140 million (Sh17.7 bi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/abler-nordic-looking-to-raise-sh18billion-for-expansion\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-24T15:37:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-24T16:00:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/02\/postQueueImg_1677240477.90.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"666\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/abler-nordic-looking-to-raise-sh18billion-for-expansion#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/abler-nordic-looking-to-raise-sh18billion-for-expansion\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Abler Nordic looking to raise Sh18billion for expansion\",\"datePublished\":\"2023-02-24T15:37:02+00:00\",\"dateModified\":\"2023-02-24T16:00:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/abler-nordic-looking-to-raise-sh18billion-for-expansion\"},\"wordCount\":369,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/abler-nordic-looking-to-raise-sh18billion-for-expansion#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/02\/postQueueImg_1677240477.90.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/abler-nordic-looking-to-raise-sh18billion-for-expansion#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/abler-nordic-looking-to-raise-sh18billion-for-expansion\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/abler-nordic-looking-to-raise-sh18billion-for-expansion\",\"name\":\"Abler Nordic looking to raise Sh18billion for expansion - 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