Shuraako News

Shuraako hosted the Swedish International Development Cooperation Agency (SIDA), our partner in a low collateral Murabaha program, in Somaliland to meet with participating banks and see the on-the-ground impacts.

Shuraako hosted Nordic Fund stakeholders from the European Union, IFU, DANIDA, and Norfund in Somaliland from September 19-24, 2021, highlighting the success of the Nordic Fund.

On February 2, 2021, the European Union launched 3 new projects in support of Somalia’s private sector.

New research by One Earth Future identifies the potential for artificial intelligence to improve lending practices in fragile and conflict-affected states.

Employing over 50 staff members, one third of which are female, AADCO manufactures a range of paper products, but in an innovative push into environment-friendly entrepreneurship, the company also recently started the first recycling initiative of its kind in Somaliland.

In a recent article in Reuters, OEF Senior Researcher, Jay Benson spoke about the potential for increased demand for diaspora bonds, listing potential issuers with large diasporan populations as Ethiopia, Somalia, Kenya, Liberia and the Democratic Republic of Congo.

For local communities already struggling with pollution and climate change, illegal industrial fishing “is an additional stressor that depletes fisheries resources,” says Ifesinachi Okafor-Yarwood, a research consultant for Colorado-based One Earth Future who was not involved in the study.

Kjell Roland, Norfund CEO, said: This is an important investment and proofs the entrepreneurial spirit of Norfund. With Shuraako as a partner, we have a local team on the ground that works already.

A new report shows that increased access to capital plays the largest role in increasing business revenues in fragile countries like Somalia.

“It takes time to build trust and relationships in order to do business in fragile states like Somalia,” said Mahad Awale, country director of One Earth Future which has raised $11 million from investors to fund 130 social start-ups in Somalia.

Private sector development and economic growth are critical to the peacebuilding process in fragile and conflict-impacted states (FCS). In order to realize the potential of the private sector in these contexts, small and medium-sized enterprises (SMEs) need access to capital.

How can remittances sent home by diaspora communities be channeled into impactful investments in fragile and conflict-affected countries? A new OEF Research paper explores the possibilities.

The fund has been launched by investment firm Norfund, One Earth Future’s Shuraako initiative and Danish development finance institution IFU, and aims to help Somali entrepreneurs build sustainable businesses, contribute to their country’s economy and tax base, and create a significant number of job...

The Swedish International Development Cooperation Agency represented by the Embassy of Sweden, is announcing a comprehensive partnership with major Somali financial institutions to launch a program that will expand the provision of low collateral loans to small and medium size enterprises throughout...