Salaam Somali Bank helps small businesses expand with free microfinance funds
As COVID-19 continues to impact the global economy, a private bank in Somalia is supporting small business owners to thrive through the second phase of 2021 free microfinance funds.
Salaam Somali Bank launched the annual investment program under the Qardu Hassan theme last year to develop small businesses in all regions of the Horn of Africa that are recovering from conflict.
The bank’s branch in the Hamarweyne district of Mogadishu brought joy to the faces of some of the local retailers after providing them with free microfinance aimed at helping them expand their business.
During the event, one of the recipients of Salaam Somalis bank’s free microfinance said he was pleased with the bank’s support in tough times, which from now on will lead their trading to success.
The investment program aims to contribute to the development and improvement of the national economy by helping small businesses to grow and narrow the employment rate among young people.
Based in Mogadishu, Salaam Somali Bank, established in 2009, is the first privately owned bank in Somalia and regulated by the Central Bank of Somalia.
