Browsing: Norfund activities in Africa

Norfund invests in Hela Kenya
  • Hela Kenya has received US$14 million from Norfund to strengthen the development of its manufacturing operations in East Africa
  • The proceeds from Norfund’s investment will be utilised to strengthen Hela’s strategic supply chain partnerships in East Africa
  • It will also 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

Kenyan-based apparel company Hela Apparel Holdings PLC has received US$14 million (KSh 1.7 billion) from Norfund to strengthen the development of its manufacturing operations in East Africa.

Norfund, the Norwegian government’s investment fund, announced on Monday, February 27, 2023, that it had invested the amount in Hela Kenya. The company employs over 4,000 people and is the largest manufacturing facility within the Sri Lankan company Hela Group.

The proceeds from Norfund’s investment will be utilized to strengthen Hela’s strategic supply chain partnerships in East …