MOGADISHU, Somalia – As part of the second phase in 2021, the Salaam Somali Bank branch in Bakaro provided free microfinance to the owners of the small businesses in Somalia’s largest thriving market.
The investment program called Qardu Hassan is part of Salaam Somali Bank’s annual free microfinance fund, which aims to develop and improve small businesses effectively across the Horn of Africa.
Some of those lucky enough to receive free microfinance today said they were very pleased with the support and thanked the bank for the offer designed to encourage budding entrepreneurs.
Salaam Somali Bank has set up the free microfinance funds in a number of branches in Mogadishu and several cities in the regions of the country with the aim of extending it to the rest of the branches.
Merchants who have already benefited from Qardu Hassan have praised the bank’s role in the development of small businesses, an important step in reviving the country’s economy.
Salaam Somali Bank is the first private bank operating in the country during a difficult period when it was established in October 2009 and it operates under the auspices of Somalia’s central bank.
