Nordic Horn of Africa Opportunities (NHAO) Fund
Introduction
Nordic Horn of Africa Opportunities (NHAO) Fund targets small and medium-sized enterprises.
Swedfund's investment enables loans to companies in a fragile country where access to capital is limited, thereby contributing to job creation and increased access to essential products and services.
Co-investors include Norfund and IFU.
Read more in our press release: Swedfund invests USD 5 million in Somali fund
Facts
SDG in Focus
No Poverty
End poverty in all its forms everywhere.
Gender Equality
Achieve gender equality and empower all women and girls.
Decent Work and Economic Growth
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
Reduced Inequalities
Reduce inequality within and among countries.
Value creation
Our Impact
The investment contributes to local economic growth by developing the private sector and improving access to capital for small and medium-sized enterprises. The investment helps to increase access to essential products and services, as well as to jobs and other income-generating opportunities locally.
ESG
We are working closely with the fund manager to, among other things, develop and implement an environmental and social management system that has the capacity to manage and mitigate environmental and social risks associated with the sector. We are also working closely with the fund manager to strengthen their anti-corruption management system.
Additionality
Our investment is financially additional as it is made in a challenging context where access to capital is limited, poverty rates are high, the business climate is challenging, and it is expected to contribute to mobilising capital. The investment is value additional through a strong focus on active value creation during the investment phase, where sustainability, environmental and social issues and corporate governance are prioritised.