After decades of hostilities impacted the Somali region’s economy and infrastructure, a new era of economic activity is being ushered in by Somalis’ entrepreneurial spirit, helping to create an environment where peace can thrive.
With an emphasis on women-owned businesses, job creation, work opportunities for youth, and renewable energy, the Nordic Fund marks a historic collaboration between international investors, multinational organizations, and the Somali private sector by providing sharia law-compliant loans to Somali businesses and entrepreneurs.
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, Shuraako recently approved new loans for three companies. Through these investments, Shuraako aims to foster economic growth, create jobs, and promote stability and peace.
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.