• Private sector development is dependent on access to capital.
• Borrowing and saving money reduces vulnerability of households.
• Large number of enterprises and individuals lack access to basic financial services, such as banks accounts, insurance and credit.
• Financial institutions need capital to develop products and increase market outreach.
• Banks are dependent on debt in order to extend loans to their customers, especially longer tenure local currency debt.
• Capital investments are also necessary to build infrastructure to expand service offering to unbanked.

Profile
• High financial returns and strong development effects.
• Focus on SME’s and unbanked.
• Mainly local owned with promising growth potential.
Institutions
Instruments
• Banks.
• Micro finance companies.
• Non- deposit taking and other financial institutions.
• Equity
• Debt (USD and local currency)
• Mezzanine

FI Portfolio per Region
19%
15%
22%
44%
Africa
Asia
Central America
Global
FI Portfolio per Instrument
9% Debt
42%
Equity
49%
Mezzanine debt

FI Jobs per Region
Customers:
52.9 millions
Jobs (Direct):
130 183
Female Jobs:
38%
Taxes:
NOK 1,942,219,630
62%
12%
26%
Africa
Central
America
Asia & Pacific
1 000 000
500 000
Taxes NOK '000
-
Africa
Taxes NOK '000 946 405
Asia
583 159
Central
America
410 222

SUMMARY
HIGHLIGHTS
Committed NOK 627 million to 12 investments
NORFINANCE
(“NF”)
• Investment company targeting
African financial institutions with equity investments.
• Main rationale to mobilize private Norwegian capital for investment in the Financial institution sector in Africa.
• Investors:Norfund,KLP,
Perestroika AS; Skagen Kon-
Tiki Verdipapirfond ; Solbakken
AS.
• First close USD 136.5 million.
PROXIMITY DESIGNS
• First investment in Myanmar.
• PD provides crop loans to small and rural farmers.
• The organization boasts the most extensive rural network, covering
80% of rural population.
• Loan will provide more access to finance to rural farmers.
• Convert from a NGO to a commercial company.

Fully Invest
NorFinance
• Invest available capital and possibly raise additional capital.
Scale up NMI
• Scale up Norwegian Micro Finance Initiative (”NMI”) and possibly  obtain more Nordic investors.
Scalable banking models
• Invest in scalable banking models with innovative distribution channels like agency business models and mobile money transfers.
• Examples of Brac Bank, Bangladesh and Equity Bank, East
Africa.
Innovative business models
• Invest in innovative business models outside traditional banking sector addressing needs of SME’s and unbanked

Company Background
 Was founded in May 1964 as a Development Finance
Bank and converted to a commercial bank in 2000 and listed on the Uganda Security Exchange on 2004.
 Is Uganda’s 5 th largest bank, with 34 branches countrywide.
 We are an investor since 2004 and have increased our shareholding in 2012 from 10% to 27.5% . This investment has now been transferred to NorFinance.
 We have also provided debt capital
 The bank has transformed several private enterprises in
Uganda through provision of funding for projects using products like Term Loans, Home Loans, Commercial
Mortgages and Leasing.
 In 2013 we initiated a strategic alignment of shareholders with the introduction of Rabobank as a new shareholder.
Shareholding Structure
27.5%
Other
30%
27.5%
Performance
– Total Assets
15%
Unit: Shs million

Company Background Shareholding Structure
 Started as an NGO food project in 1994 and a
Microfinance operator in 2001.
 Norfund has been invested since 2007.
 Is among one of the top 4 MFIs in Cambodia and is moving towards being the leading, sustainable microfinance provider, helping clients to succeed in their businesses.
 Employs 1872 people, of which 541 are female.
 We have provided equity funding, loans in both local currency and in US dollar and an emergency liquidity credit line, when there was political turmoil.
 Strategic plan initiated to transform to a fully fledged
SME/ Micro finance banking group.
17.49%
19.87%
19.73%
19.75%
23.16%
Local
SH
Strong shareholder group who have been consistently supportive to HKL’s growth.
Performance - Loan portfolio
Unit: USD million
250
200
150
100
50
0
2007 2008 2009 2010 2011 2012 2013 1H
2014
As of June 2014, loan portfolio stood at USD 194 million with PAR>30 of only 0,04%.