Somalia Economy

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

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.

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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.

The Fishing Sector in Somalia/Somaliland

Fishing is a highly profitable venture throughout the world; the tuna industry alone is worth $6 billion globally. Surveys of Somali waters show that there are significant fish stocks off the coast of Somalia—these waters are in fact considered to be some of the richest fishing grounds in the region. Many profitable species live in the waters off the coast of Somalia, data supported by the Sea Around Us Project, which studies the impact of fisheries on marine ecosystems across the globe.

Somalia Banking: Transfers, Challenges And Opportunities

This paper is a primer that discusses the challenges and opportunities of Somali banking. A foreign investor interested in Somalia would need answers to the following questions:

Regional Lessons Learned for Somalia in the Apiculture (Beekeeping) Sector

The Somali apiculture industry is still very much in its infancy, yet the potential to reap real rewards, is apparent. Today, though there is not much documented evidence on the current practice of beekeeping in Somalia, institutional memory points to the fact that the industry was making reasonable strides, and prospective for growth was high in the early 1980s. At that time, beekeeping was a private enterprise.