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Monday, June 17, 2024

Launch Partners

Swedfund invests US$5 million in Somalia’s Shariah compliant US dollar-denominated Nordic Horn of Africa Opportunities Fund

SOMALIA: Swedfund, the Swedish government’s development financier, has decided to invest US$5 million in the Nordic Horn of Africa Opportunities Fund, the amount of which is split into two tranches where the second tranche requires certain conditions to be met, a press release read.

The Shariah compliant US dollar-denominated fund, which currently has US$25 million in capital under management, is aimed to provide financing to SMEs with revenue less than US$1 million.

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