On January 5, 2025, KIMS Microfinance organized a business training program for 34 small business owners in Mogadishu at the Ministry of Agriculture venue. High-ranking officials from both the Ministry of Youth and KIMS Microfinance attended the event.
This initiative aligns with KIMS Microfinance’s commitment to youth empowerment and financial inclusion, aiming to transform eligible beneficiaries into successful entrepreneurs through tailored financing solutions.
The training began with opening remarks from Hamza Abdiwahab, Director of Somalia Youth Hub under the Ministry of Youth and Sports. He emphasized the importance of equipping young entrepreneurs with skills and resources vital for driving economic development in Somalia.
KIMS Business Development Manager Faysal Mohamed Hassan delivered the program, designed to equip participants with essential business growth skills and highlight microfinance as a key entrepreneurial resource. The workshop covered crucial areas such as financial management, marketing, strategic planning, leadership, customer relationship management, and innovation.
The Participants gained actionable insights and practical tools for managing and growing their businesses. Those meeting eligibility criteria will be onboarded as KIMS Microfinance clients to receive financial support that will further scale their ventures.
Real-world examples were referenced during the training, including Fatima—a clothing store owner who utilized a KIMS Microfinance loan to expand her operations significantly. By investing in marketing efforts and upgrading inventory quality, Fatima increased her customer base by 30% while doubling her revenue within a year.
This training represents a significant milestone in KIMS Microfinance’s mission to foster entrepreneurship among youth. By providing robust support systems alongside skills enhancement initiatives like these workshops—KIMS not only boosts individual participant capabilities but also contributes positively towards Somalia’s broader economic growth through sustainable business practices.
