Nordic Horn of Africa Opportunities Fund
Africa
Region
35.3
Commitment (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.
Key information
- Sector:
- SME Funds
- Commitment (MNOK):
- 35.3
- Year:
- 2018
- Region:
- Africa
- Country:
- Somalia
- Domicile:
- Canada
- Instrument:
- Funds
- Status:
- Active
- Mandate:
- Development
More about the Fund:
Links and documents
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