Small enterprise in Juba, the capital of South Sudan. Photo: Norfund
Norfund has established the investment company Kinyeti Venture Capital Ltd. in cooperation with the Swedish sister fund Swedfund.
Small and medium sized enterprises in South Sudan have very limited access to finance. Kinyeti Venture Capital will offer companies in the country loans and equity, and make investments of between 275 000 and 5 million NOK.
Today the South Sudanese import almost everything which is consumed in the capital Juba and in the rest of the country, and the potential for companies producing even the simplest consumer and agricultural products are therefore great. It is very important for the development of Southern-Sudan that international investors enters the market, so that jobs and income is created for the local population.
Both Norfund and Swedfund have invested about 4 million NOK in Kinyeti Venture Capital. The Norwegian embassy in Juba will supply about 17 million NOK in risk capital. The target is 50 million USD in five years through successive capital allocations from the initial investors alongside new partners.