Nordic Microfinance Initiative is now the Abler Nordic, a public-private partnership investing in financial inclusion companies globally.
The new name was launched Tuesday in Nairobi by Investment Director Godfrey Kaindoh, along with an announcement on the start of fundraising in 2023.
In 2023, Abler Nordic will commence fundraising for Fund V, with a minimum raise of USD 140 million and a significant allocation for further investments in Kenya.
“I am here to celebrate our new name. There is a huge role that we can play. We (Abler Nordic) have supported over 12 million people globally. However, 1.5 billion people globally are still unbanked. Rural areas are home to 71% of the population,” said Kaindoh.
Abler Nordic has offices in Nairobi, New Delhi, Jakarta, Copenhagen, and Oslo, with 22 employees.
Abler Nordic plays an active role in the development of the five Sub-Saharan African financial inclusion organisations it is currently directly invested in Juhudi Kilimo (Kenya), Kenya Women Microfinance Bank, Baobab Group (Senegal, Ivory Coast, Mali, Burkina Faso, Nigeria, Tunisia, the DRC, and Madagascar), Baobab Senegal, and Tugende (Uganda and Kenya).
Abler Nordic manages five funds, with total commitments of USD 345 million.
Since its inception in 2008, over 12 million customers globally have been supported with access to responsible financial services through Abler Nordic’s investments.
