2020 – A year like no other… business unusual
Arise is excited to release its Operations Report 2020, which showcases the successes and highlights for the period 1 January – 31 December 2020.
In 2020 the African continent, along with the rest of the world, was impacted severely by the effects of the COVID-19 pandemic and businesses had to rethink their models to ensure their sustainability. Despite operating against this challenging backdrop, Arise’s fourth year of operations once again saw the organisation make significant strides in delivering on its mission to invest in Africa’s local prosperity through collaborative partnerships with sustainable financial service providers on the continent.
2020 was a year like no other and the Arise team faced unprecedented challenges in terms of global lockdown restrictions, remote working, travel restrictions and limited face-to-face interaction with its partner banks. Despite these headwinds the organisation rode the wave and emerged triumphant. In addition, its partner banks continued to show their resilience and ensured their business continuity in their respective countries.
Arise has continued to play a vital role in sustaining and contributing to Africa’s financial services sector. During 2020 the organisation recorded a modest profit of USD 2.6mn and received a total of USD 11.4mn in dividends from its partner banks based on their 2019 performance. Arise also paid its shareholders USD 9mn in dividends.
One of the fundamental lessons learned during COVID-19 was that collaboration is vital to success. Arise’s achievements would not have been possible without the support of its shareholders, namely Norfund, NorFinance, FMO, Rabobank Partnerships and its partner banks and we would like to extend our appreciation for their commitment and support.
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