Alla Aamin Fishing Company (“Alla Aamin”) is owned by an entrepreneur and managed by a group of professional fishermen. The company has been in operation since 2003 and runs four small boats and a fish shop in Berbera, Somaliland. The company catches fish, fillets them, and buys fish products from local fishermen. In addition to selling fish at its retail location, Alla Aamin transports fish to other parts of Somaliland for resale. Before it received funding, Alla Aamin did not have the proper cooling equipment to transport its fish supply efficiently.
With the financing it secured in 2013, Alla Aamin installed a refrigeration system in its store, purchased ice boxes for transporting fish back to land, and renovated the store to better preserve and process fish. The investment allowed Alla Aamin to increase the shelf life of its fish and create five new jobs for the local community.
After consistently paying its first loan on time and nearly doubling net income between 2013 and 2016, Alla Aamin secured another round of financing in 2017. These funds were used to expand the company’s fleet with the purchase of a medium sized fishing boat, engine, nets and a refrigerator.