Shuraako News

Visionary impact investors in the historic partnership that One Earth Future’s Shuraako program has pioneered through its Nordic Horn of Africa Opportunities Fund will meet next week with clients and partners in Somaliland.

Shuraako is continuing to approve loans through its Nordic Horn of Africa Opportunities Fund. Recently, Shuraako approved investments into Hafun Fish and Processing Plant and Taayo Engineering Solutions Company (TESCO). Read more about these businesses below.

The demand for clean, fresh water will only continue to grow, and that’s where the success of SHABA comes in. SHABA works to produce and distribute clean water to all of the local Borama citizens. Before SHABA, the local public utility managed the water supply in the city and maintained four borehol...

Shuraako recently submitted the 2020 Annual Report for the Nordic Horn of Africa Opportunities Fund. Read more to see some of the highlights!

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

Somali businesses like AADCO Paper Factory are working hard - and making great strides - toward securing a place on the international market where they can be competitive and bring new, innovative ideas to the private sector.

Shuraako clients Tayo Uniforms and Embroidery and Dheeman Fashion and Tailor are adapting to the COVID crisis by pivoting their sewing operations and producing masks at affordable prices.

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

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.

A new report drawing on Shuraako data, shows that increased access to capital plays the largest role in increasing business revenues.

One Earth Future’s Shuraako program empowers women entrepreneurs in the Somali region by providing affordable access to finance and tailored advisory support.

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.