The collaboration with TLG Capital exemplifies two institutions that have long recognized that a lack of access to capital for African firms restricts their potential to expand. We will apply our collective experience to address some of the concerns, demonstrating our commitment to making a long-term effect in the region.
This is what Norsad CEO Kenny Nwosu said after a partnership with TLG Capital, an award-winning investment holding company focused on private investment opportunities in small and medium-sized enterprises (SMEs), was announced.
According to Nwosu, “our organization’s mission is to build a better Africa by funding mid-market growing enterprises that contribute to the continent’s economic growth and progress.”
Zain Latif, who helped start TLG and is now a partner, says that Norsad is a well-respected institution in the African investment scene.
“We’ve known each other for years,” he says. Therefore, it is a joy to announce that we will be working closely in the future, especially given that Norsad has been investing in credit agreements in Africa for over three decades, longer than anybody else we have encountered.
Norsad Capital and TLG Capital want to use each other’s structuring and legal knowledge, as well as their presence in sub-Saharan Africa, to give their clients the best financing options.
Both companies have been investing in the area for a long time. Along with making money, they want to make a big difference in society by putting cash into mid-market growth companies that are profitable, stable, and ready to grow but don’t have the money to do so. Together, the alliance will manage about $400 million in assets invested in mid-sized businesses in sub-Saharan Africa.
Norad Capital’s objective is to significantly touch the lives of 100 million Africans by 2030 and target firms that can generate positive social impact and deliver excellent financial returns – “profit with purpose.”
In its 32-year history, Norsad has put more than $500 million into more than 160 companies. TLG Capital wants to help the African economy grow by $5 billion by investing in small and medium-sized businesses (SMEs) to help them grow faster and become “Pan-African titans.”
TLG has made more than 30 investments and has exited more than 20, all of which had favorable internal rates of return (IRRs) ranging from 6% to 35%. TLG operates with the premise that exceptional entrepreneurs are shaping Africa’s future.