Salaam Somali Bank's free microfinance program reaches new town

Within the scope of the annual free microfinance, Salaam Somali Bank has put a smile on the faces of small business owners in the Afgoye district of the southern agriculture-rich Lower Shabelle province.

Currently, there are low-income traders in the town, about 30 kilometers northwest of Mogadishu who had long suffered from floods, droughts, and protracted conflict and they have been struggling to survive for various years.

Salaam Somali Bank has offered a helping hand to many merchants in the country, the latest being in Afgoye, where the bank’s core headquarters provided free microfinance to small businesses on Monday.

Speaking at the event, the beneficiaries of the free microfinance program have greatly showed gratitude and appreciation to Salaam Somali Bank for the vital support it provided them in a most needed time.

“I thank the management and staff of Salaam Somali Bank for this help. Surely, it is a good example to follow and we are very happy with the investment opportunity provided by the bank,” said a trader.

Qardul Xasan is a multi-monthly program aimed at growing and encouraging emerging businesses in all regions. Economists say this program will significantly contribute to the economic growth of the people.

The bank has already provided similar facilities at several centers in Somalia. Salaam Somali Bank management said they will continue this program for all the remaining branches of the bank.

The main purpose of the bank to provide these funds is to increase the productivity of emerging entrepreneurs and encourage their businesses.