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Tag: Norfund

Baking and dairy ingredients specialist Synercore secures US$4.7M from Norfund to fund expansion plans

SOUTH AFRICA – Norfund, the Norwegian investment fund for developing countries, is investing ZAR 80M (US$4.7M) in convertible debt in the expansion plans of Synercore Holdings, a South African food ingredient manufacturer. Established in 2016, Synercore has a specialty in the formulation and manufacture of food ingredients which it sells to fast-moving consumer goods companies, precisely in the dairy and…

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Norfund invests US$21M in SAMANU to boost edible oils production in Ethiopia

ETHIOPIA-Norfund, the Norwegian Investment Fund for Developing Countries managed by 54 Capital, has announced a US$21 million growth capital investment into Ethiopia’s largest Fast-moving consumer goods (FMCG) platform SAMANU. SAMANU is a platform company with well-established brands operating in Ethiopia’s main FMCG sub-sectors (Tena Edible Oils, 555 and Aura Soap & Detergents, and Chef Luca wheat products). The investment is…

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