Somalia: Connecting SME’s to new business services
With a mix of traditional building styles and a flurry of modern twists, the New Rays Hotel venue was the perfect location for the launch of the Small and Medium Enterprise Facility (SMEF) over the summer. In the bustling, business-centre of Garowe, Puntland, the event aimed to introduce existing small business owners to exciting new business development services, such as training, coaching and technical assistance.
The SMEF has already been successfully implemented in other areas of Somalia, such as Hargeisa and Mogadishu. The idea is that Small and Medium Enterprises (SME’s) in fragile states often need extra support to grow and succeed. For example, access to markets, access to finance and access to networks and skills can be huge hurdles when doing business in conflict-affected countries. These challenges are often exasperated for female entrepreneurs due to social, financial and geographical barriers.
SPARK Somalia employees were proud that the launch event of the SMEF brought together over 70 participants from the government of Puntland (SAP members), as well as entrepreneurs from SME’s, female entrepreneurs, women’s associations, Business Service Development and Technical Vocational Educational Training providers. All these organisations were interested in partnering with SMEF to begin supporting important, growing businesses in Garowe in Puntland, Somalia.
Whilst much of Somalia has been marked by long periods of conflict, Puntland and Somaliland enjoy relative stability in terms of peace and economy. Therefore, private sector development and investment is on the rise, particularly in the areas of trade, money transfer, telecommunications and livestock. Hence, SPARK’s enthusiasm to encourage these emerging sectors through business development, thus encouraging stability in the region.
SMEF is funded by the World Bank and implemented by BDO LLP, in partnership with SPARK and IPE Global.
Related news
-
News
End of year – 2024 A Year of Trials and Triumphs: Reflecting on 2024
-
Report
2023 Annual Report
The Annual Report provides comprehensive information on SPARK’s activities throughout the preceding year. Published with the approval of the Supervisory…
-
Event
International Women’s Day: Invest in Women
-
News
In conversation with: Audrey Pascale Nisabwe, filmmaker and Founder of MARK IT
On International Women’s Day, filmmaker and director, Audrey, discusses the making of SPARK’s Follow the Fish film, being a woman…
-
News
The Skills Training and Education Programme: Supporting youth to have economic impact in Lebanon and Jordan
-
Report
Impact Report: Positive increase in youth and women employment, reduction in desire to migrate
The International Security and Development Center conducted an Impact Assessment of one of SPARK’s programmes (LEAD 2) in Tunisia and…
-
News
Sustainable localization: Burundi’s Fish Centre handed over to National Fish Federation
-
News
SPARK in 2023
In 2023, youth faced many protracted challenges, as well as new crises: from the earthquakes in Türkiye and Syria, to…
-
News
Meet SPARK’s new Board of Directors
From January 2024, SPARK’s Supervisory Board has appointed Mr. Simon van Melick who, after more than a decade at SPARK,…
-
Global Refugee Forum 2023: It’s time for bold steps on economic inclusion for refugees
-
November at SPARK
-
Global Entrepreneurship Week 2023
-
October at SPARK