Somalia Economy

Shuraako works with small and medium enterprises, the predominant contributors to Somalia’s economy.

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Hamdi is composed of two campuses in Mogadishu. Through a Shuraako-facilitated investment, the company was able to purchase new school equipment and furnishings to expand and grow its student population.

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Though demand for newer vehicle models has risen in Somaliland, most garages are still unequipped to service them. Through a Shuraako-brokered investment, Gaameelo was able to tap into this market and increase its yearly profits.

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Through a Shuraako-brokered investment, the company was able to obtain the funds necessary to renovate the hotel space, install an elevator, and purchase equipment, supplies, and decorative items for the day spa and beauty salon expansion.

Now Accepting Applications For Business Development Training!

Feb 06, 2019

Shuraako is now accepting applications for the 2019 Work in Progress! program. Selected small and medium enterprises (SME) will receive tailored business development services (BDS) ranging from fundamental business principals, concepts and services, to individual enterprise advisory and technical support. Work in Progress! is intended to enhance participants’ capacity to create jobs for women and youth and increase the likelihood of securing funding for business expansion.

Click Here To Apply

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$8 Million Impact Fund Supporting Somali Businesses Launched

Jun 20, 2018

Shuraako, Norfund, & IFU launch the Nordic Horn of Africa Opportunities Fund

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Sweden, Somali Financial Institutions, & Shuraako Provide Low Collateral Loans

Apr 24, 2018

The program is intended for female and youth entrepreneurs who lack sufficient collateral or possess other non-financial credit challenges by increasing their access to finance.

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Launched at the end of 2013 to provide a safe and reliable motor coach and parcel delivery service between several cities in Somaliland. Prior to the start of East and West, the only options for intercity transport in Somaliland were seven seater vans, small private cars, and individually owned small and medium sized buses.

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Muruqmaal Environment Protection “Muruqmaal” has been operating a quality lime production company in Garowe, Puntland since 2013.

Shuraako Hosts Somalia Fisheries Forum

Oct 27, 2017

The forum brought together fisheries ministers from each of the Somali Regional Member States and the Federal Deputy Minister of Fisheries.

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Soma Chicken Farm, a Puntland-based farm, began its pilot phase in November 2014. The farm raises chicken for both meat and eggs and sells its products to the local market.