Norfund: Norway to increase investment in Nigeria

With a total investment of $3.1 billion in Sub-Saharan Africa, alongside South Eastern Asia and Central America, the Norwegian Investment Fund for developing countries (Norfund) has reiterated intention to increase its investment in Nigeria.

Owned and funded by the Norwegian government, Norfund is the government’s most important instrument for strengthening the private sector in developing countries by providing capital through its investments while creating jobs and improving lives.

The Ambassador of Norway to Nigeria, Knut Eiliv Lein, at an exclusive forum and luncheon in Lagos, disclosed Norfund’s intention to increase investments in Nigeria and the West African with the aim of driving development in the private sector and creating jobs.

The ambassador, who was represented by the Business Counsellor, Royal Norwegian Embassy in Abuja, Eivind Fjeldstad, said Norfund was committed to strengthening Nigeria-Norway relations in the most meaningful way.

He said, “Nigeria is Norway’s most important market on the African continent, as we believe that there is a huge opportunity for growth in Nigerian industries. We are impressed by the measures taken by the government to strengthen the startup community especially as underlined by the Startup Act signed by (former) President Muhammadu Buhari in October.

The Executive Vice President, Scalable Enterprises, Norfund, Ellen Cathrine Rasmussen, stressed that Norfund’s mandate was to assist in building sustainable businesses and industries.

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