Investment Criteria

Our criteria and mandate for investing

NMI’s main investment criteria:

Please note that these criteria are not complete and NMI may deviate from these criteria at their will.

  • Mandate: NMI invests in microfinance institutions (“MFIs”) and other institutions providing financial inclusion to the poor in developing countries.
  • Social focus: NMI is a strictly double bottom line investor; targeting social results and financial sustainability in our investments. The investee must target the Bottom of the Pyramid segment in a responsible and sustainable way
  • Regions: Sub-Saharan Africa, South Asia and Southeast Asia
  • Prioritized Countries: Sub-Saharan Africa: Angola, Cameroon, Ethiopia, Ghana, Kenya, Ivory Coast, Madagascar, Malawi, Mali, Mozambique, Nigeria, Rwanda, Senegal, Tanzania, Uganda, Zambia, Zimbabwe
    South Asia: India, Nepal, Sri Lanka
    Southeast Asia: Cambodia, Indonesia, Myanmar, the Philippines
  • Instruments: Direct investments; equity or debt
  • Terms and time: NMI is a long-term investor, offering fair market terms. The investment must be of a reasonable size and fit in well in the portfolio

Please contact us at These investment criteria are guidelines and NMI accepts no responsibility for any action taken. NMI has full right to reject any offer at any time without any burden of proof.

Oslo office

Rosenkrantz' gate 22, 7th Floor
N-0160 Oslo

P.O Box 1925, Vika
N-0125 Oslo

Telephone: +47 22 36 22 40
Fax: +47 22 42 89 01

Copenhagen office

c/o IFU
Fredericiagade 27
1310 Copenhagen K

Nairobi office

c/o Norfund
4th Floor, Arlington Block
14 Riverside, Riverside Drive
Nairobi, Kenya

Post box 66162
Westlands, 00800
Nairobi, Kenya

New Delhi office

c/o IFU
SPWD Building, 2nd Floor
14A Vishnu Digambar Marg
New Delhi – 110002