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Browsing: norfund investments in 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 …
- Norfund has partnered with Ethos Mezzanine Partners 3 to invest in Balaji Group, a Kenyan textile manufacturer
- Norfund said it has partnered with Ethos Mezzanine Partners 3, a closed-ended specialist credit fund to invest US$25 million into Balaji, which is one of Sub-Saharan Africa’s leading textile companies
- The two partners said they have executed a USD 25 million mezzanine debt investment in the Balaji Group, with both contributing US$12.5 million each
The government of Norway, through the Norwegian development finance institution Norfund, has signed a new partner to invest in Balaji Group, a Kenyan-based textile manufacturer.
On February 24, 2023, Norfund said it has partnered with Ethos Mezzanine Partners 3, a closed-ended specialist credit fund to invest US$25 million into Balaji, which is one of Sub-Saharan Africa’s leading textile companies.
Job creation in Kenya
The investment is also expected to aid the creation of 6,000 new direct jobs and another …