How Artificial Intelligence Could Improve Business Lending in Fragile States

Artificial intelligence could improve the process of enterprise lending in fragile and conflict-affected states like Somalia.

Photo:  Riaz Jahanpour for USAID Tanzania / Digital Development Communications

Shuraako believes that connecting entrepreneurs with impact capital fosters economic growth, creates jobs, and promotes stability and peace. However, lack of credit is one of the biggest hindrances to small and medium enterprise development in fragile and conflict-affected states, such as Somalia. While Shuraako continues to bridge the credit gap by identifying strong enterprises through on-the-ground due diligence and matching them with needed capital, emerging technologies like artificial intelligence (AI) may provide other opportunities for identifying creditworthy enterprises.

Read our latest factsheet on how AI could be utilized in credit scoring, managing finances, accessing product utility, and addressing money laundering risks.