These case studies highlight how four businesses in Somalia and Somaliland leveraged investments through the AgriFood Fund to increase production and efficiency.
African Fisheries and Agriculture
Shuraako facilitates investment into African fisheries and agriculture, two important sectors that are key to growing the economy and improving livelihoods.
“Daalo” was initially established in 2011 as a business that bought, fileted and fried fish for local consumption in Berbera.
Fishing is a vibrant sector along the Somali Coast. With continued support through investment and improved management, the Somali fishing sector has the potential to boost the Somali economy, ensuring long-term growth and stability in the region.
The forum brought together fisheries ministers from each of the Somali Regional Member States and the Federal Deputy Minister of Fisheries.
A poultry farm located in Garowe, Puntland. SCF sells chicken meat, eggs, and manure and has demonstrated its ability to successfully raise poultry and sell into the local markets.
Over the last decade, remittance flows from diaspora communities to their countries of origin have been steadily increasing. In Somaliland, the Somali AgriFood Fund drove diaspora investment in agricultural production and boosted the monthly income of Barwaaqo Marketing and Catering Services Company by 500-600%. With government support and agriculture-friendly legislation, agriculture could benefit from this substantial source of funding and expertise.
Mr. Fruto is a storefront ice cream, sweets and juice bar that sells freshly squeezed natural juices prepared and served in plastic cups that can be taken on safari or consumed in the store.
Fishing is a highly profitable venture throughout the world; the tuna industry alone is worth $6 billion globally. Surveys of Somali waters show that there are significant fish stocks off the coast of Somalia—these waters are in fact considered to be some of the richest fishing grounds in the region. Many profitable species live in the waters off the coast of Somalia, data supported by the Sea Around Us Project, which studies the impact of fisheries on marine ecosystems across the globe.
The Somali apiculture industry is still very much in its infancy, yet the potential to reap real rewards, is apparent. Today, though there is not much documented evidence on the current practice of beekeeping in Somalia, institutional memory points to the fact that the industry was making reasonable strides, and prospective for growth was high in the early 1980s. At that time, beekeeping was a private enterprise.
In the Somali-populated territories of the Horn, pastoralism and agro-pastoralism are the dominant mode of livelihood. The northern Somali livestock trade involves the annual export of at least $200 million worth of live animals.