Small entrepreneurs benefit from free microfinance from a local bank
MOGADISHU, Somalia – The private Salaam Somali Bank’s branch in Hamarweyne, Mogadishu, on Thursday provided entrepreneurs with free microfinance as part of the annual non-profit investment program called “Qardu Hassan”.
The annual fund is aimed at developing and encouraging small businesses across Somalia, according to the bank’s management, which is credited with being the first in the country to start in 2009.
Traders, including men and women who were given the opportunity, said they were grateful to Salaam Somali Bank for its timely support, which has helped them expand their business in the face of challenges.
Salaam Somali Bank helped many businesses in the country, most recently in remote districts where the headquarters provided Qardu Hassan’s investment to small businesses throughout Somalia.
“I would like to thank the management and staff of Salaam Somali Bank for their continued support in expanding our business. In fact, it is a good example to follow, ”said one of the recipients.
Qardu Hassan is a Salaam Somali banking program designed to promote and encourage companies in all regions to play a role in the economic revival of the Horn of Africa country.
The bank has previously provided funding to several centers in central and southern Somalia, and the bank’s management said it would reach out to all remaining branches.
The main purpose of the bank, which is a privately owned financial institution, is to increase the productivity of new entrepreneurs and encourage their business.
