{"id":85277,"date":"2023-02-27T16:10:08","date_gmt":"2023-02-27T16:10:08","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/norfund-puts-in-sh1-7b-in-kenyan-apparel-firm"},"modified":"2023-02-27T16:59:53","modified_gmt":"2023-02-27T16:59:53","slug":"norfund-puts-in-sh1-7b-in-kenyan-apparel-firm","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/norfund-puts-in-sh1-7b-in-kenyan-apparel-firm","title":{"rendered":"Norfund puts in Sh1.7b in Kenyan apparel firm"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>The Norwegian government\u2019s investment fund, Norfund, has signed a USD 14 million (Sh1.77 billion) financing agreement with Hela Apparel Holdings PLC. The money will bolster the development of Hela\u2019s manufacturing operations in East Africa.<\/p>\n

Norfund supports sustainably driven business operations in developing countries. Hela Kenya, established in 2016, is the largest manufacturing facility within the Hela Group and employs over 4,000 people.<\/p>\n

William Nyaoke, Norfund’s Regional Director for East Africa, said on Monday, the facility is also one of the largest of its kind in Kenya, currently producing approximately 20 per cent of the country\u2019s total apparel exports.<\/p>\n

\u201cHela was the first major Sri Lankan apparel manufacturer to establish operations in Kenya and has played a leading role in the rapid growth of the industry across the continent,\u201d said Nyaoke.<\/p>\n

Hela has operations in Ethiopia and Egypt. \u201cOur expansion to Africa has been a rewarding venture, and we continue to see many opportunities within the region for further development,\u201d said A.R Rasiah, chairman of Hela Apparel Holdings.<\/p>\n

\u201cThe intended investment in our Kenyan manufacturing facility, which will be supported by this lending from Norfund, is a key part of the Group\u2019s strategy to remain globally competitive,\u201d he said.<\/p>\n

He welcomed Norfund’s support saying the funds will be used to strengthen Hela’s strategic supply chain partnerships in East Africa. \u201cThis will enable Hela to leverage regional sourcing from Kenya and Tanzania to a larger extent, providing significant cost and lead time advantages for manufacturing in the region,\u201d said Rassiah.<\/p>\n

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

Africa-Press – Kenya. The Norwegian government\u2019s investment fund, Norfund, has signed a USD 14 million (Sh1.77 billion) financing agreement with Hela Apparel Holdings PLC. The money will bolster the development of Hela\u2019s manufacturing operations in East Africa. Norfund supports sustainably driven business operations in developing countries. Hela Kenya, established in 2016, is the largest manufacturing […]<\/p>\n","protected":false},"author":84,"featured_media":85275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-85277","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":"\nNorfund puts in Sh1.7b in Kenyan apparel firm - kenya<\/title>\n<meta name=\"description\" content=\"The Norwegian government\u2019s investment fund, Norfund, has signed a USD 14 million (Sh1.77 billion) financing agreement wi ...\" \/>\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\/norfund-puts-in-sh1-7b-in-kenyan-apparel-firm\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Norfund puts in Sh1.7b in Kenyan apparel firm\" \/>\n<meta property=\"og:description\" content=\"The Norwegian government\u2019s investment fund, Norfund, has signed a USD 14 million (Sh1.77 billion) financing agreement wi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/norfund-puts-in-sh1-7b-in-kenyan-apparel-firm\" \/>\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=\"2023-02-27T16:10:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-27T16:59:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/02\/postQueueImg_1677501615.24.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\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\/norfund-puts-in-sh1-7b-in-kenyan-apparel-firm#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/norfund-puts-in-sh1-7b-in-kenyan-apparel-firm\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Norfund puts in Sh1.7b in Kenyan apparel firm\",\"datePublished\":\"2023-02-27T16:10:08+00:00\",\"dateModified\":\"2023-02-27T16:59:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/norfund-puts-in-sh1-7b-in-kenyan-apparel-firm\"},\"wordCount\":273,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/norfund-puts-in-sh1-7b-in-kenyan-apparel-firm#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/02\/postQueueImg_1677501615.24.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\/norfund-puts-in-sh1-7b-in-kenyan-apparel-firm#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/norfund-puts-in-sh1-7b-in-kenyan-apparel-firm\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/norfund-puts-in-sh1-7b-in-kenyan-apparel-firm\",\"name\":\"Norfund puts in Sh1.7b in Kenyan apparel firm - 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