MOGADISHU (SMN) – Salaam Somali Bank which is a privately owned bank continues to contribute to Somalia’s economic growth by providing free microfinance funds to develop small businesses.
On Thursday, the Bank’s branch in Bakaro market provided funds to the local traders in Mogadishu, who were in dire need of support that will help grow their mini commerce.
The beneficiaries expressed gratitude to Salaam Somali Bank’s management and staff, saying it’s an Exemplary step to follow by other financial banks in the country.
“We’re very happy with the Micro-finance fund provided by the Salaam Somali bank,” said one of the business owners who have today benefited from the Qardu Hassan program.
This is part of the Bank’s package aimed at improving the small businesses in all regions across Somalia to play a vital share in boosting the economy and alleviating poverty.
Qardu Hassan was designed to be rolled out in all regional and urban banking centers in the country and is destined to raise and motivate the growing businesses.
The bank has already provided such free microfinance to the small merchants at its main headquarters, including the Somali capital, and several towns in the south and central regions.
The main purpose is to uplift the productivity of evolving businesses and encourage entrepreneurs in a bid to revive the economy in Somalia with high unemployment rates.
