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 brings the total funds that Shuraako manages (under the Nordic Fund) to $24 million. Learn more about the launch here.
Investments in pre-emerging, frontier markets are potentially rewarded with high returns.
Focused on the import of spare auto parts and other vehicle accessories such as tires and batteries. Through a Shuraako-facilitated investment, Bahaya was able to acquire this equipment for its facility.
One Earth Future’s Shuraako program empowers women entrepreneurs in the Somali region by providing affordable access to finance and tailored advisory support.
To accelerate production capacity and increase efficiency and timely distribution of its products, SKS acquired a Shuraako-facilitated investment for the purchase of additional bottling and labeling equipment.
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.
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.
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. The SIF 2017 brought together over 330 attendees to discuss ways to strengthen private sector investment, encourage women and youth entrepreneurship, develop a skilled workforce, and bolster the renewable energy sector.