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Impact Fund Denmark has made an additional investment of DKK 40 million ($6.3 million) in the Nordic Horn of Africa Opportunities Fund (NHAOF). The investment will increase access to capital for small and medium-sized enterprises in Somalia.
The fund invests in companies within renewable energy, sustainable agriculture and food production as well as water supply, fishing and local processing.
NHAOF is managed by Shuraako, a locally anchored asset manager working with a financing model adapted to the market.
“This is an example of how capital can be used responsibly in a very fragile market. This requires local insight, patience and a model built for the reality in which the companies operate,” said Theo Ib Larsen, managing director and head of impact partnerships at Impact Fund Denmark.
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