Access to Capital Crucial to Increasing Business Revenue in Somalia
A new report drawing on Shuraako data, shows that increased access to capital plays the largest role in increasing business revenues.
Impact Investing
See how Shuraako impact investing has helped Somali entrepreneurs build thriving businesses.
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Through a Shuraako-facilitated investment, Royalsom was able to procure three 35- to 40-seater buses and two Toyota Land Cruisers, supporting expansion of the company’s existing car rental services.
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FISTCO was experiencing increasing demand for products that require wide-format printing, precise contour cutting, and garment printing. Through a Shuraako-facilitated investment, FISTCO was able to expand its business operations by purchasing a wide-format inkjet printer, contour cutter, and garment printer.
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Founded in 2013, AADCO Paper Factory (“AADCO”) is a paper factory based in Hargeisa, Somaliland. AADCO manufactures exercise books and A4 printing paper. It has grown its paper factory from 18 staff (2013), producing 1,000 cartons of A4 printing paper and 3,600 cartons of exercise books, to 52 staff (2017), producing 10,239 cartons of A4 printing paper and 36,060 cartons of exercise books.
$8 Million Impact Fund Supporting Somali Businesses Launched
Shuraako, Norfund, & IFU launch the Nordic Horn of Africa Opportunities Fund
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Founded in 2012 with the goal of providing affordable printing services and stationary products to Mogadishu’s university student population.
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Founded in 2012, Adelai Farm “Adelai” sells agricultural products in the local markets of the Balcad District in Mogadishu.
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Dalmar Transportation Cooperative “Dalmar” was established in Bosaso, Puntland in 2012 to provide truck drivers and transportation company owners with limited coverage to specific risk events.
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“Daalo” was initially established in 2011 as a business that bought, fileted and fried fish for local consumption in Berbera.
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The company has been in operation since 2002, and is the sole supplier of processed and graded gums and resins to NEO Botanika, a large gums and resins export trading company in Somaliland.
