Salaam Somali Bank offers free microfinance to small businesses in Mogadishu
Salaam Somali Bank continues its second phase of a free microfinance program launched in 2021 with the aim of promoting small businesses in all regions of the Horn of Africa country.
On Saturday, March 20, the bank’s branch in Suuq Ba’ad in Mogadishu provided free microfinance to local retailers as part of the free investment initiative to help retailers expand their business.
The recipients thanked Salaam Somali Bank for the continued continued support, saying they would make their dream a reality and help them grow high-income businesses.
Qardu Hassan is a multi-year banking program designed to be rolled out in all regional and urban banking centers in the country and is intended to grow and encourage new businesses.
The leading bank has already delivered similar packages in several centers and management said they will continue this program and soon pay out all the remaining branches in the country.
The main purpose of the bank’s payout is to increase the productivity of developing companies and inspire merchants to realize their firm vision.
Salaam Somali Bank (SSB) is the first privately owned bank in Somalia and started operations in October 2009 and is regulated by Somalia’s central bank.
The bank’s ongoing Qardu Hassan program aims to contribute to the recovery of Somalia’s economy.
