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Digital Subscriptions > Development Finance > Issue 5 > Norfund and FMO unveil new partnership for Africa’s financial sector

Norfund and FMO unveil new partnership for Africa’s financial sector

The new company will pool around US$660 million in assets
© Norfund

The Norwegian development finance institution, Norfund, Dutch development bank FMO, and multinational financial services provider Rabobank have launched a bid to grow the financial sector in sub- Saharan Africa through a new company named Arise.

The company was officially launched in South Africa in February and will see the partners pool around US$660 million in assets currently held across 20 countries in sub-Saharan Africa, although Arise itself is only currently operational in 10 countries.

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