Arise to Open its Doors in January 2017
In a press release Banque Popular Du Rwanda (BPR) announced that Rabobank, FMO and Norfund are pooling their activities into a new investment and development vehicle named Arise as of January 1st 2107. The ambition of the partnership is to build strong, locally owned FSPs that serve small and medium enterprises (SMEs), the rural sector, and clients who have not previously had access to financial services.
The partnership is committed to strengthen and develop effective, inclusive financial systems in Africa. The consolidation of the respective portfolios, by the creation of an investment and development vehicle under joint-ownership, will mean Arise will start with a presence in over 20 countries, $US 660 million in assets while anticipated to grow to $US 1 billion.