Type Enterpreneurs

SEF will support entrepreneurs by providing early stage and growth financing with active support for specially youth and women entrepreneurs. The fund aims to empower entrepreneurs with inspiring vision to solve big problems and create commercial solutions.

Type Investments

1. Free Microfinance (up to $3,000)

2. Start- up Financing (up to $50,000)

3. SME Investment (above $50,000)

Partnerships

SEF aims to work with existing ecosystems and people who share our values of fairness and transparency in doing business. SEF is mindful of our long heritage and the core values of fairness, transparency and stability that underpin a long track record of our funder’s success. This attitude to doing business means we’re a stable, dependable partner, giving consistent and committed support to Somali entrepreneurs with substantial value to accelerate their potential for the overall growth of the Somali economy.

Eligibility

• The Fund is available for all Somali entrepreneurs operating inside Somalia.

• Somali National

• Proof of passport or

• National Identity Card

• Must a Salaam Bank account holder

• Certificate of company registration

• Business profile, Business plan,

• Proof of guarantor,

• Fund request letter

• All aspiring entrepreneurs can apply direct on our website www.salaambank.so/sef

• or visit one of our Salaam Bank branches

Rational

In the last decade, Somali economy has gone through a steady progressive transformation. Salaam Bank & Hormuud Telecom believe that Somalia is now primed to take advantage of the immense trade opportunities on the horizon. Somalia is blessed with natural resources include rich and fertile soil, long history and expertise in farming and livestock and the longest coastline in mainland Africa.

Somalia’s resilient local value chains are slowly increasing production, to meet the growing local and international demand for (original Somali) quality commodities. We believe that Somalia’s agriculture and fish sector hold huge potential to meet the national and international demand for fresh and processed goods.

Somalia’s strategic location, potential for wind and solar energy, with ports in North and South with access to most important trade routes in the world, combined with well- established and resilient private sector, we foresee the great Somali leap in the next decade. It is exactly for this reason why/that SEF was established, to fuel the next great Somali leap (from grassroots level)

Agriculture

Somalia’s organic mineral-rich soil with the right temperature, gives its inhabitants a great opportunity to grow varieties of fruits and vegetables for local consumption and export. Agriculture has always been an essential livelihood in Somalia. Before the civil war, Somalia was one the largest banana exporter of Africa, employing over 100 thousand men and women and exporting nearly 100 million worth of agricultural products to the world The once famous tasty and creamy texture of Somali banana is unique to the world and its demand is now slowly increasing.

Livestock

Livestock export industry is one of the largest contributors to Somali economy and an important component of the agricultural sector, which accounts for close to $400 million worth of exports (in 2015).

According to USAID, “appetite for Somali livestock and its products is growing, specially goat meat and beef, which is said to be tastier and less fatty than goats from elsewhere in the region”. As result, Somalia’s exports of live animals have increased to estimate of 5 million to the Middle East every year. SEF sees huge opportunities livestock production and is committed to contribute the transformation to meet the growing local and international demand, while also putting emphasis on maintaining the authentic, delicious Somali quality. (Milk is also among the most economically important livestock products with a $5+ billion…so we need to find a way to highlight this).

Fishing

As global demand for seafood products continues to increase, combined with most of the world’s fisheries al already fully exploited. Somali fish resources are largely untapped, with naturally rich Somali fishing grounds, with an exclusive economic Zone (EEZ) of more than 830,00 square KM including deep-sea harbours, thus uniquely situated to meet rising local and international demand.

Energy

Like all economies, Somalia requires affordable energy to power sustained growth. At present, the cost of electricity impedes the development of new industries and businesses and prevents existing businesses from expanding. Due to 3 decades of conflict, the country’s power infrastructure was destroyed and as result current power generation capacity are privately owned and distributed through microgrids. Electricity is largely produced by diesel generators and some renewable energy. SEF sees the high a growing demand for cheaper and reliable electricity throughout Somalia and will therefore invest in this key sector.

Technology

In the last 5 years, thousands of Somali youth have been graduating from universities in & outside Somalia. Some of these young people are coming back with diverse degrees and experiences. Combined with a cheap internet, telecommunications and easy mobile money systems, the Somali youth are using these platforms to come up with diverse ideas to create jobs and opportunities inside Somalia. Somalia now has a small but budding tech and entrepreneurial scene that boast with its own ride-sharing apps, food delivery apps and fintech apps. SEF aims to enable and boost the Somali entrepreneurial scene direct and indirect by making finance available and accessible for the Somali entrepreneurs.