Al Ihsan Fishing Group (“Al Ihsan”) is a partnership fishing company that has been in operation for over 10 years in Berbera, Somaliland. Al Ihsan catches its own fish and buys fish from other fishermen. Fresh fish are sold in markets in Hargeisa and in other nearby towns. Al Ihsan sells its supply directly to fish resellers, not the end customer. Al Ihsan has maintained strong relationships with its existing customers, but sought an investment in equipment that would increase their fishing capacity.
After securing an investment facilitated by Shuraako, Al Ihsan has made a 10 ton boat seaworthy and bought a refrigerator, largely reducing the spoilage of its catch. The investment has enabled production capacity to increase and has enabled the company to employ 6 new people.
Shuraako believes in responsible investments that abide by environmental, social, and governance (ESG) standards. Shuraako employs a review and monitoring system to identify and address ESG issues facing each investment.