Nigerians abroad want to invest at home (sending more than $20 billion annually), but most do not have successful outcomes due to dependence on informal systems (friends, family).
Meanwhile, Nigerians at home struggle to access capital: 41m MSMEs (65% of the economy) can access only 4% of bank loans. Startups raised only $307m for a population of 200m people (vs. $150 billion in USA for 330m people), and up to 80% of startups could fail within 5 years.
Even where capital is available, local businesses can still fail, if startups do not receive sustained support. We want to change those outcomes.
Shores Impact matches diaspora capital and skills to credible local businesses in a structured way to improve successful outcomes for all parties.