Shuraako and GEEL Partner to Expand Private Sector Investment and Create Jobs for Somali Women and Youth
BROOMFIELD, Colo.—Shuraako, a program of the One Earth Future Foundation (OEF), a U.S.-based NGO focused on creating a more peaceful world, signed a five-year partnership agreement with Growth, Enterprise, Employment and Livelihoods (GEEL) project, to introduce at least 40 efficient technologies and create 5,000 new jobs which provide at least a year’s worth of income for Somali communities.
The partnership focuses on investment and technical assistance in the areas of agriculture, fisheries and renewable energy. Shuraako and GEEL will collaborate on forums and events, developing new loan products, and addressing the Somali renewable energy call-for-actions that came out of the Somali Renewable Energy Forum held in Hargeisa, Somaliland earlier this year and hosted by Shuraako.
“We are pleased to partner with Shuraako and increase the participation of Somali women and youth as entrepreneurs, employers, and employees,” says Mohamed Abdinoor, chief of party at GEEL. “We believe this partnership provides a unique opportunity to strengthen Somali businesses, increase investment, and create jobs.”
Access to finance is particularly challenging in Somalia. Shuraako, in partnership with GEEL, are committed to expanding financing and technical assistance for women and youth-led enterprises. The partnership will result in transformative private sector investments that will create jobs and increase productivity and competitiveness of selected value chains.
Larry Sampler, president of One Earth Future added, “OEF and Shuraako are committed to working with GEEL to achieve our shared mission of facilitating investment, creating jobs, and strengthening the Somali economy, particularly for women and youth.”
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Shuraako is a program of the One Earth Future (OEF), which operates throughout Somalia. Shuraako, which means “partnership” in Somali, connects micro, small and medium sized enterprises with investors to create jobs and stimulate economic growth, contributing to a more resilient and peaceful Somalia.
About One Earth Future:
OEF is a self-funded, private operating foundation seeking to create a more peaceful world through collaborative, data-driven initiatives. OEF focuses on enhancing maritime cooperation, creating sustainable jobs in fragile economies and research that actively contributes to thought leadership on global issues. As an operating foundation, One Earth Future provides strategic, financial and administrative support allowing its programs to focus deeply on complex problems and to create constructive alternatives to violent conflict.
Growth, Enterprise, Employment and Livelihoods (GEEL) is a program sponsored by USAID. GEEL is expanding small-and-medium-sized enterprise access to investment opportunities, increasing the availability of key business services, and supporting improved business policy and regulation. The project is also stimulating private investment in high growth industries such as agriculture, fisheries and renewable energy, and boosting employment potential for youth and women in previously inaccessible regions.