- It is a measure of the entrepreneurial Somalis that a series of presentations in connection with the Somaliland Business Fund (www.somalilandbusinessfund.com) have generated considerable interest. Having had its official launch in Hargeisa, a series of presentations throughout Somaliland as well as in London and Dubai have ensured that both local Somalilanders and members of the Diaspora have been aware of the fund which has been financed by the Danish Development Agency, DIFID (UK) and the World Bank.
The SBF aims; “…to mobilize the creative energy and resources of the private sector to strengthen private enterprises, increase income and create new employment opportunities and thereby improve the lives of Somalilanders.” The issue of unemployment is a very serious one, and whilst it is occasionally talked about by the Government of Somaliland to date little has been done by the Government to tackle this growing scourge with any real sense of urgency. Whilst the funds at the disposal of the SBF are relatively modest, this initiative is one that has been generally welcomed. The deadline for the receipt of initial applications (concept notes) for Round 1 of grant allocations will be 25thOctober 2012. Interest has been such that it looks like many applications will be made more in hope than in expectation
Source: H A B A