Shuraako News

Graphic containing the logos of three new approved companies
January 10, 2022

New Shuraako Impact Investments Support Youth, Foster Renewable Energy

 As 2022 begins, Shuraako continues to provide Nordic Horn of Africa Opportunities Fund loans for businesses in the Somali region that are building markets and livelihoods in several important sectors. With a focus on companies that provide youth employment and utilize renewable energy, read more

November 9, 2021

Shuraako Investments Creating Permanent Jobs for Women

As a program of the One Earth Future Foundation, Shuraako believes that women play a vital role in sustaining a more peaceful world. Shuraako tracks the addition of jobs for women for each of the companies with which we work through midterm progress reports. Below are three businesses that added read more

Hafun Fish and Processing Plant
July 13, 2021

Recently Approved Loans

Hafun Fish and Processing Plant

Shuraako is continuing to approve loans through its Nordic Horn of Africa Opportunities Fund. Recently, Shuraako approved investments into Hafun Fish and Processing Plant and Taayo Engineering Solutions Company (TESCO). Read more about these businesses read more

Solar Panel Installation in the Somali Region
June 16, 2021

Shuraako, Solar, & SHABA: The Impact of Investing in Somali Companies

Shur·aa·ko· (noun) - Somali for “partnership.”

A partnership, an agreement, a shared collaboration between two or more entities to accomplish a common purpose... that’s exactly what our Shuraako program seeks to foster. Shuraako works in conflict-affected areas and their local read more

Najmo Shampoo Factory in Somalia
June 15, 2021

Highlights from the 2020 Annual Report for the Nordic Horn of Africa Opportunities Fund

One Earth Future's Shuraako program (Shuraako meaning “partnership” in Somali) connects investors with read more

somali farmer investments
February 12, 2021

Shuraako partners with the EU to boost the Somali private sector through access to finance

On February 2, 2021, the European Union launched 3 new projects in support of Somalia’s private sector. One of the projects will contribute 5.5M€ to the Nordic Horn of Africa Opportunities Fund (the ‘Nordic Fund’) which is an impact fund targeting Somali small and medium-sized enterprises. This read more

July 2, 2020

AADCO Paper Factory: Entrepreneurial Innovation in the Somali Business Sector

Somali businesses are working hard - and making great strides - toward securing a place on the international market where they can be competitive and bring new, innovative ideas to the private sector.

AADCO Paper Factory currently serves as the only paper manufacturing company in read more

somali businesses adapt to covid 19
June 9, 2020

Somali Entrepreneurs Prove Their Resiliency Yet Again, Even During Pandemic

The COVID-19 pandemic has impacted many facets of Somali society from health and safety to security and the economy. The effects are felt acutely in the private sector where small businesses are experiencing revenue losses and potential layoffs. Shuraako has seen first hand that the read more

artifical intelligence lending africa
May 5, 2020

How Artificial Intelligence Could Improve Business Lending in Fragile States

Photo:  Riaz Jahanpour for USAID Tanzania / Digital Development Communications

Shuraako believes that connecting entrepreneurs with impact capital fosters economic growth, creates jobs, and promotes stability and peace. However, read more

Getting a Loan in Somalia
April 2, 2020

Access to Capital Crucial to Increasing Business Revenue in Somalia

Access to capital remains a major obstacle for the private business sector in conflict-affected areas like Somalia. A new report from One Earth Future, drawing on Shuraako data, shows that by far, increased access to capital plays the largest role in increasing read more

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Publications

  • artifical intelligence lending africa factsheet

    Could AI Untangle the Puzzle of Enterprise Lending in Fragile States?

    May 5, 2020

    A new fact sheet on leveraging artificial intelligence to enable enterprise lending in fragile and conflict-affected states like Somalia.

    Read More
  • WIP Case Studies - Invest in Africa

    WIP! Case Studies

    December 12, 2018

    In partnership with Shuraako and Oxfam, Work in Progress! is a program offering tailored business development services (BDS) to selected medium and small sized enterprises (SME) that demonstrate strong potential for employing women and youth in Somaliland.

    Read More
  • Somaliland Investment Forum 2017 Outcome Report

    SIF 2017 Outcome Report

    April 2, 2018

    Shuraako, in partnership with the Somaliland Ministry of Trade and Investment, the Somaliland Ministry of Energy and Minerals, and the Somaliland Chamber of Commerce, hosted the Somaliland Investment Forum 2017 (SIF 2017) September 19–21, 2017.

    Read More
  • Somalia Fisheries Forum 2017 Outcome Report

    SFF 2017 Outcome Report

    April 2, 2018

    Shuraako, in partnership with Secure Fisheries, and the Puntland Ministry of Fisheries hosted the Somalia Fisheries Forum (SFF) in Garowe on October 24-26, 2017. The SFF brought together around 600 attendees to discuss ways to strengthen coordination between the Somali federal government and the regional member states, as well the international community, private sector, and NGO community.

    Read More
  • Somali Agrifood Case Studies

    Somali AgriFood Fund Case Studies

    June 16, 2017

    These case studies highlight how four businesses in Somalia and Somaliland leveraged investments through the AgriFood Fund to increase production and efficiency.

    Read More
  • War and Economy

    Firm Behavior in Fragile States: The Cases of Somaliland, South Sudan, and Eastern Democratic Republic of Congo

    March 29, 2017

    This report, based on field research, documents which features of business work in fragile areas and how businesses operate in regard to strategy, contract enforcement, and other aspects of firm behavior.

    Read More
  • SIF Outcome Report

    Somaliland Investment Forum 2016 – Outcome Report

    January 20, 2017

    In September 2016, Shuraako and the Somaliland Ministry of Trade and Investment co-hosted the Somaliland Investment Forum held in Hargeisa, Somaliland. 315 people attending the Forum were able to choose between 20 different sessions to attend.

    Read More
  • Somali Diaspora Study

    Somali Diaspora Investment Survey Report & Discussion Brief

    June 16, 2016

    The Somali Diaspora represents a large pool of potential investment capital that could be leveraged for long-term and scaled development in the Somali region. This report assesses the preferences and behaviors of Somali Diaspora toward existing channels and opportunities for Somali-based investments and provides policy recommendations for how to better facilitate crucial investment.

    Read More
  • Sustainable Energy Africa

    Powering Progress II: Realizing The Potential Of Renewable Energy In Somaliland, Puntland, And South Central Somalia

    February 1, 2016

    The Somali renewable energy market has some of the largest potential in Africa, but often stakeholders have been working in isolation from each other and from global markets.

    Read More
  • Skilled Work Survey Somalia

    Somali Skilled Workforce Survey Report

    February 1, 2016

    The Somali Renewable Energy Skilled Workforce Survey sought to better understand the current and future labor force needs to effectively grow the Somali renewable energy sector

    Read More