Landmark Memorandum of Understanding Signed in Somaliland

The Initiative Aims to Boost Investment in the Production Sector
Minister of Investment and Industrial Development, HE. Abdirasak Ibrahim Mohamed, and Abdirahman Hashi, the Somaliland Director of Shuraako smiling after signing memorandum of understanding

The MOU was signed in Hargeisa by the Minister of Investment and Industrial Development, HE. Abdirasak Ibrahim Mohamed, and Abdirahman Hashi, the Somaliland Director of Shuraako. This initiative aims to boost investments in Somaliland’s production sector, fostering economic opportunities and job creation.

Key Highlights:

  • Targeting SMEs: The Nordic Fund focuses on supporting Somali small and medium-sized enterprises (SMEs).
  • Sharia-compliant Financing: It will offer risk capital through Sharia-compliant loans and other self-liquidating structures.
  • Job Creation and Female Empowerment: There is a strong emphasis on job creation and empowering female entrepreneurs.
  • Promoting Prosperity and Stability: By supporting a responsible private sector and fostering a sustainable business environment, the Nordic Fund aims to promote prosperity and stability in the region.
Minister of Investment and Industrial Development, HE. Abdirasak Ibrahim Mohamed, and Abdirahman Hashi, the Somaliland Director of Shuraako, and the Communications and Visibility Specialist for Shuraako with colleagues posing for a group photo after signing memorandum of understanding

Published

July 27, 2024

Written by

Saddam M. Ahmed

Topic

Livelihoods and Peace

Program

Shuraako

Content Type

News

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