Norfund
Norfund is a Norwegian government organization founded in 1997, based in Oslo, that focuses on reducing poverty and enhancing economic development in low-income countries. It serves as an active, strategic minority investor, providing risk capital, equity, and loans to businesses in regions where access to financing is limited. Primarily operating in Sub-Saharan Africa, as well as selected areas in Southeast Asia and Central America, Norfund aims to foster sustainable business growth in environments where the private sector is underdeveloped. The organization also invests in small and medium-sized enterprises (SMEs) to further support local economic initiatives. Through its investments, Norfund seeks to create a significant positive impact on the economies of the countries it targets.
Yoma Bank Limited, founded in 1993 and based in Yangon, Myanmar, is a prominent domestic bank that offers a wide range of banking products and services. As the fourth largest bank in Myanmar by assets, Yoma Bank employs over 3,000 staff and operates 65 branches nationwide. The bank has made substantial investments in areas such as technology, corporate governance, and human resources. In 2014, it became the International Finance Corporation's first direct investment in Myanmar, benefiting from a comprehensive advisory package aimed at enhancing its credit risk management and financial systems. Yoma Bank's strategic partnership with Telenor has led to the establishment of Wave Money, a mobile financial services company designed to broaden access to digital financial solutions. Additionally, the bank has received support from the LIFT trust fund to expand agribusiness finance, targeting Myanmar's underserved agricultural sector, with technical assistance provided by Rabo Bank.
Yoma Micro Power Myanmar Company Limited builds, owns, operates, and maintains solar-based micro-power plants. The company offers mini-grids in off-grid areas generating and distributing electricity to power telecom towers in rural areas and off-grid communities. It also offers on-grid commercial and industrial solar systems. The company was founded in 2017 and is based in Yangon, Myanmar.
Private Equity Round in 2017
Electricity infrastructure development is a priority for Myanmar to drive economic growth. According to the World Bank only 16 percent of rural households in Myanmar are connected to the power grid1. The demand for power far exceeds the available production capacity, resulting in regular blackouts. The limited production and distribution of power severely hamper economic development and the powering of telecommunications towers.
Myanmar Finance International Ltd. (MFIL) was successfully established in 1st September 2014 founded by Myanmar Finance Company Limited - the locally owned company, and Myanmar Investments Limited - the Singapore based company
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