$8 Million Impact Fund Supporting Somali Businesses Launched

Somalia Business Fund Kick Off

One Earth Future's Shuraako program signed into effect the $8 million Nordic Horn of Africa Opportunities Fund, an impact fund with major European Development Finance Institutions (DFIs) including Norfund and IFU, and the Arsenault Family Foundation. This is the first impact fund of its kind in the Somali region and is expected to attract additional investment from other major DFIs. The Fund will deploy risk capital to finance Somali small and medium size enterprises with Sharia compliant loans and other self-liquidating structures with a focus on job creation and empowerment of female entrepreneurs.

Learn More about the Nordic Horn of Africa Opportunities Fund

Related News

Getting a Loan in Somalia

Access to Capital Crucial to Increasing Business Revenue in Somalia

A new report drawing on Shuraako data, shows that increased access to capital plays the largest role in increasing business revenues.