Highlights from the 2020 Annual Report for the Nordic Horn of Africa Opportunities Fund

Najmo Shampoo Factory in Somalia
The Najmo Shampoo Factory is one of several recipients of loans provided by the Nordic Horn of Africa Opportunities Fund

One Earth Future's Shuraako program (Shuraako meaning “partnership” in Somali) connects investors with promising Somali-based businesses to encourage economic development and stability throughout the country. On March 23, 2018, One Earth Future Africa, in partnership with Shuraako and the Arsenault Family Foundation, signed the Limited Partnership Agreement for the Nordic Horn of Africa Opportunities Fund. Since launching the Fund, Shuraako has approved investments into 50 businesses. 

During 2020, 14 investments were approved for a total of $4.8 million. Investments were approved across five economic sectors: agribusiness, fishing, manufacturing, renewable energy, and services. Below, you will find a more detailed breakdown of the loans approved in 2020.

Distribution of Loans By Sector 2020

Loans Approved in 2020

Company Name Sector Loan Amount
A.A. Fishing Fishing $80,000
D. Agricultural Farm Agribusiness $100,730
B. Farming Agribusiness $125,000
A.G. & R. Processing Center Agribusiness $139,150
B. Farm Agribusiness $147,000
G.S. Parts, T. Puncture, & C. Services Services $250,000
T. Household Plastics Manufacturing $299,995
Y. Fishing Fishing $350,000
N. Shampoo Manufacturing $367,824
B. Electricity Services $500,000
S. Technologies Renewable Energy $500,000
SWDUC Services $543,000
S. Factory Manufacturing $653,750
B. Electricity Company Renewable Energy $749,990