Shaqodoon Organization in partnership with Micro-Dahab, Kaah Islamic Microfinance Services (KIMS), and Silatech implemented a 20 month youth enterprise development initiative shortly called “Youth Enterprise Initiative (YEI)” aiming to expand opportunities for Somali youth (16-35) through entrepreneurship, skill development, job creation as well as providing access to financing to build sustainable youth-run enterprises through a combination of innovative financial and business development support services including but not limited to comprehensive training, coaching/mentoring and business consultations.
The project operated in five selected cities across south central Somalia, some newly liberated, Somaliland and Puntland including Mogadishu, Kismaayo, Beletweyne, Hargeisa and Bosasso. The program provided access to intensive entrepreneurship training, business development support services, resources, capital and technical assistance to establish businesses for 120 Somali young entrepreneurs and creating thirty-six (36) youth-led small and medium enterprises. Youth business owners perceive individual wellbeing through creation of sustainable businesses that would improve the living/economic conditions not only for themselves but also for their families and would create further employment opportunities for other youth. The project invested 550,000 dollars in direct sharia compliant loans and grant to 36 youth entrepreneurs ranging from 5,000 to 50,000 dollars per business. The project has created 250 direct job opportunities.
Result 1: improved entrepreneurial and business managerial skills for 100+ youth enterprises.
Result 2: Young people improved their individual wellbeing and living conditions through creation of sustainable business entities and contribute to further employment for other youth.
Result 3: Improved job creation and economic positions of 120+ young people living in the operating target areas and who benefited from the project.