According to the UN, Africa should not follow the same path of industrialization as Europe. Its development must be inclusive, ensuring that all sectors of society participate, and sustainable, safeguarding the environment.
Innovative Development and Financing Platform
Norfund, the Norwegian Investment Fund for Developing Countries, announced on July 24th a multi-country African partnership with Veolia, a leader in ecological transformation.
Together, they will launch an innovative development and financing platform to promote sustainable industries.
Integrated Solutions for Industrial Growth
This platform will offer integrated solutions, from design to financing through a single window, including off-balance sheet financing.
These solutions will enable growing industrial companies to address the dual challenge of reliable and affordable access to energy and water while managing their environmental impact.
Leveraging Expertise and Experience
Veolia brings extensive global experience in providing waste, water, and energy management services to the industrial sector, along with a long-standing presence in Africa.
Norfund has been operating in Africa for 25 years, boasting a strong local presence and a diverse investment portfolio in manufacturing, renewable energy, and financial institutions.
Commitment to Sustainable Industrial Development
Both organizations are eager to contribute their strengths to this new partnership. “Norfund is committed to Africa’s development and focused on supporting industrial growth,” said Ellen Rasmussen, Executive Vice President for Scalable Enterprises at Norfund.
“We are delighted to partner with a strong player like Veolia to develop waste, water, and energy solutions that will ensure sustainable growth in this sector.”
Investment Focus and Target Sectors
Specifically, Norfund and Veolia will invest in projects ranging from 3 to 50 million euros. They will provide turnkey solutions and performance-based contracts to clients, targeting resource-intensive sectors such as food and beverage, materials, chemicals, and mining.