Salaam Somali Bank, a leading privately owned bank in Somalia, is making an excellent contribution to the country’s economic growth by offering free microfinance funds for small business development.
On Saturday, March 27, 2021, the bank’s branch in the Afgoye district of the Lower Shabelle region provided funds to the local merchants, thanking them for timely and much-needed support that will help increase their trade.
The recipients of the free microfinance program express their gratitude to the management and staff of Salaam Somali Bank and say that it is an exemplary step to keep up with other financial banks in the country.
“We are very pleased with the investment opportunity from Salaam Somali Bank,” said one of the small business owners in the agricultural city, which today has benefited from the free microfinance fund.
The free microfinance is part of Salaam Somali Bank’s annual program, which aims to improve small businesses in all regions of Somalia in order to play an important role in boosting the economy and alleviating poverty.
Qardu Hassan is a monthly banking program designed to be rolled out in all regional and urban banking centers in the country and is intended to travel and motivate growing businesses.
The bank has already provided such free microfinance to local merchants at its headquarters, including Mogadishu, the Somali capital, and assured to implement the program in the remaining areas.
The main purpose of the bank is to increase the productivity of developing companies and encourage entrepreneurs in an attempt to give retailers in Somalia the world’s highest unemployment.
