Orli Arav



Year born


External position

Managing Director, EMFin Advisory


Orli Arav is an impact investing and development finance specialist with over 20 years of experience in these fields.  Orli’s specific areas of leadership have included:

  • impact investing (with a focus on frontier and emerging markets);
  • development finance; and,
  • project and structured finance within funds, financial institutions, and advisory firms.

Orli is the Founder and MD of EMFin Advisory an Emerging Markets and Infrastructure Finance Advisory Company. EMFin Provide advisory services relating to (i) capital (debt and equity) raising, (ii) deal structuring, due diligence and investability assessment (iii) Impact Investing & Development Finance for investments in Emerging Markets.

Orli holds a number of non-executive positions:

  • Appointed by Norfund as a Board Member of CESOM-CENTRAL SOLAR DE MOCUBA, S.A in Mozambique
  • Appointed by KFW as Chair of investment Committee of FIRST: Facility for Investment in Renewable, Small Transactions in South Africa
  • Appointed by KFW on behalf of Ministry of Energy and Water Development Zambia, to serve as a member of the investment committee for GET FiT Zambia

Until recently, Orli has served as the Director of Investments for Soros Economic Development Fund (SEDF). At SEDF, Orli was actively involved in investments in emerging markets such as Aspada, Grofin (Nomou Jordan), IPDevII and Traxi.

Prior to SEDF, Orli successfully led, structured, and closed numerous transactions providing capital to infrastructure projects and companies in Emerging Markets: 76 Assets over USD1.2 Billion of principal investments, across 26 countries and 7 sectors; of which over 50 were in SSA. 

Seasoned investor in the energy sector where she led and/or was involved in funding of 21 power assets in Sub-Saharan Africa across a range of technologies (gas, solar, hydro, HFO), a number of which were the first IPPs in their respective countries

Orli also successfully raised capital from donor countries, as well as debt financing from commercial banks and development finance institutions (DFIs). Leadership experience focused on infrastructure in Africa has included Co-Founding and serving as the CIO of Impala Energy Holdings, LLC, as well as nearly 10 years serving as MD of the Emerging Africa Infrastructure Fund (EAIF), a dedicated open-end commercial debt fund. 

Prior to her leadership at Impala Energy and EAIF, Orli served as assistant director at TASC - Ernst & Young and a Manager at PricewaterhouseCoopers in the infrastructure and project finance divisions advising governments and private sector clients on infrastructure & telecom projects

Visiting Address

Lilleakerveien 2A
0283 Oslo, Norway

+47 66 71 70 00

Postal address

Lilleakerveien 2B
0283 Oslo, Norway