Project: Somali Women’s Business Investment Model
Background
Global empirical data shows that there are major barriers inhibiting female entrepreneurship despite its significant impact on society and economic growth. In its comprehensive survey on Somali women’s enterprise, Asal similarly found that despite micro and small-sized enterprises proliferating over the past two decades, women owned businesses were challenged by limited access to financial and social capital. On behalf of GEEL, Asal developed an investment model for Somali women-led businesses.
Delivery & Outcome
- Asal drew on its unique expertise on women’s role in the economy and its latest data on female entrepreneurship to design a model anchored in evidence and traditional economic systems
- The investment funding model was heavily based on existing trust-based informal investment arrangements such as the Hawalas and Hagbad
- The model matched women-led businesses with potential diaspora investors to improve women’s meaningful and equitable economic participation
- Exploratory meetings and consultations were held with the Somali diaspora communities, business networks, representatives from financial institutions and chambers of commerce to both inform the scheme and also raise the profile of the strategy and secure support