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How we work

NMI assesses potential investee according to certain investment criteria and its social goals. This section elaborates on how we choose and work with our investees.


In order to achieve set financial and social returns, NMI has chosen to focus on Sub-Saharan Africa and South- and South-East Asia. Within these regions, NMI has chosen certain focus countries in order to leverage on resources and our expertise in the best way possible. 

SEGMENTs within microfinance

NMI invests in microfinace institutions (MFIs) that have both sustainable social and financial goals. The typical candidate for investment is a well-established, licensed MFI that has targets and ambitions to expand its geographical outreach and product offering. These two factors contribute to the empowerment of the poor by creating jobs and increasing welfare in a sustainable manner.

Available instruments

NMI offers a variety of instruments tailor made for each microfinance institution. By being a long-term financial partner, NMI follows the institution through different growth phases, and offers financial products in a flexible way.


NMI offers debt instruments to MFIs where the target is to finance the growth of the MFI's loan portfolio. Debt investments are normally offered in local currencies and are often the first contact point the institution has with NMI. Debt investments are often tailor made to fit the needs of the MFI as regards to tenor and amortization. Pricing is made according to local markets and the risk profile of the MFI.


NMI has also the possibility of offering sub-debt to MFIs. The product may be structured as straight sub-debt, but could also be linked with attributes closer to equity and convertibility.


As a long-term financing instrument, NMI also makes equity investments in MFIs that have a proven growth track record including sustainable financial and social development. In this way, NMI helps ensure the continued growth of the institution.

How we work

It is important for NMI to support financial and social development of its portfolio companies. We achieve this by using a range of investment instruments, being sufficiently flexible to grow with the institution over time and exercising our ownership rights in a good way.



support schemes

In order to be an attractive investor, NMI has two support schemes to help portfolio MFIs achieve their social and financial goals: Technical Assistance Facility and First Loss Support.

NMI believes that Technical Assistance is crucial in supporting the growth and sustainability of Emerging MFIs. 

With  its First Loss Support, NMI seeks to be additional in its investments by offering funding in local currency, and, at the same time, having a sustainable financial return

Nordic Microfinance Initiative AS

Postal address:
P.O Box 1925, Vika, N-0125 Oslo, Norway

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

Telephone: +47 22 36 22 40
Fax: +47 22 42 89 01
E-mail: info@nmimicro.no
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