Around 100 Non-Resident Nepalis (NRN) living in various countries in Africa have come together to form the NRN Africa Ventures Limited with an aim to invest in different sectors in their native country
Around 100 Non-Resident Nepalis (NRN) living in various countries in Africa have come together to form the NRN Africa Ventures Limited with an aim to invest in different sectors in their native country.
The company, with an initial capital of around $8.55 million, will invest in energy, agriculture, infrastructure, and other sectors. NRNs from other countries, as well those NRNs who have already returned to Nepal, is also expected to join the companies soon.
"This is a new start in the continuous efforts of the NRNs to contribute further to make Nepal prosperous," Hikmat Thapa, the chair of the association, was quoted as saying by The Himalayan Times. He added many of them have already invested in infrastructure, energy health production, and other various sectors of Nepal.
The company issued a statement, saying it has already started preliminary works for conducting investment. The company will not only invest in Nepal but also bring back the experiences and technical knowledge earned by the NRNs, it said in the statement.
Speaking on the impact of the initiative, Dipak Karna, a director in the company, said, the latest attempt to invest in Nepal from Africa will influence other NRNs to invest in the development of the country.