The innovative Nordic Horn of Africa Opportunities Fund (Nordic Fund) is playing a major role in this transition by creating a high-impact opportunity for investors and Somali entrepreneurs to work together to transform the Somali economy, with a focus on job creation and empowerment of female entrepreneurs.
The Nordic Fund is a proven model for investing in fragile states, fostering economic stability, sustainable growth, and job creation.
The Nordic Fund seeks to attain development effects while generating a positive return on capital. The Nordic Fund will add risk capital to the Somali region, foster entrepreneurship, and create jobs. By supporting a responsible private sector and creating a sustainable business environment, the Nordic Fund will foster prosperity and stability in the region.
Projects ranging from USD $50,000 to $1,200,000 depending on the business. Owners must contribute a minimum of 20% (10% for women owned businesses) of the total project value.
The Nordic Fund will consider SMEs located in Somaliland and Somalia. Companies must have at least one (1) year operating track record and be involved in a business sector that is not under embargo as published and amended from time to time by the United Nations or European Union.
Applicants approved for financing will be issued funds under a sharia compliant debt finance agreement.