Salaam Somali Bank continues to help develop small businesses in Somalia
MOGADISHU, Somalia – The Salaam Somali Bank, which is a private bank, continues to contribute to Somalia’s economic growth by providing free microfinance funds to develop small businesses.
On Sunday, November 21, the Bank’s headquarters in Bakaro Market provided funds to local traders in Mogadishu, who were in desperate need of support to develop their mini-commerce.
The beneficiaries expressed their gratitude to the management and staff of Salaam Somali Bank, saying this is an exemplary step for other financial banks in the country to follow.
“We are very satisfied with the microfinance fund provided by the Salaam Somali bank,” said one of the business leaders who benefited today from the Qardu Hassan program.
This is part of the Bank’s program to improve small businesses in all regions of Somalia to play a critical role in reviving the economy and reducing poverty.
Qardu Hassan was designed to be deployed in all regional and urban banking centers across the country and is intended to stimulate and motivate growing businesses.
The bank has already provided this type of free microfinance to small traders at its headquarters, including the Somali capital, and several towns in the southern and central regions.
The main objective is to increase the productivity of evolving businesses and encourage entrepreneurs with the aim of reviving the economy in Somalia with high unemployment rates.