Nordic Horn of Africa Opportunities Fund

Africa

Region

34.2

Committment (MNOK)

Active

Status

The Nordic Horn of Africa Opportunities Fund (the Fund) is an investment fund for Somalian SMEs. The Manager is Shuraako, a US-based fund manager and NGO with local presence across Somalia. Norfund is the initiator and anchor investor of the Fund and other investors will include Nordic DFIs. The Ministry of Foreign Affairs has funded a first loss component of USD 3 million.

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Key information

Sector:
Scalable Enterprises
Committment (MNOK):
34.2
Year:
2018
Region:
Africa
Country:
Somalia
Domicile:
Canada
Instrument:
Funds
Status:
Active

Nordic Horn of Africa Opportunities Fund investments

Investee Sector Country
Al Fathi FishingFood and agribusinessSomalia
Al Siha EnterprisesManufacturingSomalia
City FurnitureManufacturingSomalia
East and West Bus Transportation CompanyOther industrial partnershipsSomalia
Ijaabo WaterManufacturingSomalia
Mandeeq Poultry CompanyFood and agribusinessSomalia
Royalsom General Trading LTDTourismSomalia
Suudi FishingFood and agribusinessSomalia
Tawfiiq Sanitation ServicesOther servicesSomalia
United Basic Industries (Durdur)ManufacturingSomalia
Wadajir General Trading and Contractors CompanyOther industrial partnershipsSomalia
Gameelo Workshop and Training CenterManufacturingSomalia
GobosorFood and agribusinessSomalia
Himilo FarmFood and agribusinessSomalia
Horizon AluminumManufacturingSomalia
KEEPSOther servicesSomalia
NECSOMEnergySomalia
Qaran HospitalHealthSomalia
Raaho FarmFood and agribusinessSomalia
AADCO Paper FactoryManufacturingSomalia
AdeegManufacturingSomalia
Al Faraj Water Supply CompanyManufacturingSomalia
Al Nur Mixed FarmingFood and agribusinessSomalia
Al-Kawsar WaterManufacturingSomalia
Bahaya General Trading CompanyOther servicesSomalia
CAFCOFood and agribusinessSomalia
SECCCOEnergySomalia
Shaba WaterOther servicesSomalia
SMPCFood and agribusinessSomalia
Soma Chicken FarmFood and agribusinessSomalia
Somali National Fishing Company (SNFC)Food and agribusinessSomalia
Crown HotelTourismSomalia
Dhidar Construction and Contract CompanyOther industrial partnershipsSomalia

More about the Fund:

Additionality for Nordic Horn of Africa Opportunities Fund

This investment is particularly additional on the following ambitions:

  • Investing in the poorest countries
  • Investing in the most capital constrained markets
  • Investing in the riskiest markets
  • Investing in the most difficult business environments
  • Investing in high risk instruments
  • Contributing to starting new business activity
  • Mobilising private investors
  • Taking an active role in investments
  • Improving social and environmental standards
  • Supporting enterprise improvements