News and Events

Launching Youth Enterprise Initiative [YEI] in Mogadishu

August 31st, 2015

Shaqo Doon in partnership with KIMS successfully launched the “Youth Enterprise Initiative [YEI]” in Mogadishu on Monday, August 31st, 2015 at Sahafi Hotel Mogadishu. Prior to starting, launching ceremony was arranged by Shaqodoon  where good  number of guests/participants including business associations, youth SME entrepreneurs, financial institutions including banks operating in Mogadishu i.e. Premier Bank & IBS bank, Universities, chamber of comers, youth graduates and women groups was invited to participate in the launching ceremony.   More than seventy two [72] invitees participated in the launching of the initiative representing various community levels.

The launching is organized to introduce this new initiative intended for Somali youth aiming to provide access to funds and business development support services to emerging young entrepreneurs who will benefit from this initiative throughout lifecycle of the program.
Mr. Muse Hurshe, Shaqodoon’s Business Development Officer gave short brief introduction about YEI terms and how it would support the Somali youth who are keen to move ahead with self-employment and entrepreneurial activities. Abdulahi from KIMS both delivered speech introducing their services to support the young entrepreneurs in terms of financial access i.e. loan capital by providing mid-sized loan products to youth who have brilliant, innovative business idea.  Likewise, Abdukadir Aden from Himilo University, Najah Aden from women association, Mohiyadin salad from chamber of commerce delivered speeches and encouraged the youth entrepreneurs to benefit from this opportunity provided by partnering agencies.
The main objective of YEI is to create and support youth enterprises both existing and new enterprises through provision of mid-sized loan capital from $5000 up to $ 50,000 to a 50-60 youth enterprises across five operating cities namely in Hargeisa, Mogadishu, Bossaso, Kismayo and Beletwein as well as access to intensive entrepreneurship training programs and business development support services to youth entrepreneurs. YEI is also aiming to strength the linkages between Somali youth who are willing to enter self-employment and Financial Institution partners to receive loans to start or expand their businesses.

Media Coverage
Wide range of media channels including TVs, website, and radios invited to cover the launching event of YEI. These included Universal TV, Radio Kulmiye, and   Links are available below:
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