The Government is focusing on enhancing investment with the country’s fishery, Agriculture and livestock sectors.
This was revealed by the Somaliland minister of Trade and Investment Eng Hussein Aden Egge ‘Hussein Deyr’ during his keynote speech at meeting held in Hargeisa where participants brainstormed relevant strategies towards ensuring that economic growth in the country is uplift more via the unexploited livestock, agriculture and fisheries sectors.
The meeting that brought participants from the concerned sectors, ministry of trade and investment as well as other from private concerns was facilitated by DAI an American company that has been contracted to manage the Somaliland Business Fund-SBF.
SBF funded by the world bank and other donors among them DANIDA has been renamed the Somaliland Bushiness Catalytic Fund-SBCF
“While trade and investment remains the line ministry of SBCF the day to day management of the fund is now under DAI” said minister Hussein Deyr.
During its life the SBF is credited with facilitating Job creation and small market enterprise-SME promotion through infusion of millions of dollars in grants despite numerous outcries of unfair distribution.
With the combination of Eng Hussein Deyr as lead minister and DAI as Implementing body it is anticipated that SBCF will not only pick up where it’s predecessor left but I,prove on it as well.
Ding italics present at the function include DAI management, the minister of planning and his Cicil aviation colleague as well deputy minister agriculture
About Somali Business Catalytic Fund
Development Alternatives Inc. (DAI) is managing the World Bank funded Somali Business Catalytic Fund (SBCF) program across the Somali peninsula. The objective of the fund is to boost economic growth by funding the establishment and expansion of profitable businesses.
SBCF is part of the Somali Core Economic Institutions and Opportunities Program (SCORE). The objective of this program is to set favorable conditions for overall business growth. SBCF will be complemented by Small and Medium Enterprise Facility (SMEF). http://www.somalibcf.com/
DAI invites local companies from Somaliland, Puntland and South Somalia to apply for the World Bank/Somali Business Catalytic Fund.
SL Sun & Wargane
