Somali Investment Forum: Boosting Somali Investment Opportunities

From 8 to 10 March 2015 the Somali Investment Forum took place in Nairobi, organized by the World Bank Group, US Embassy and Shuraako. The main purpose of the forum was to bring together Somali (diaspora) investors and businesses, aiming to return capital for growth. The Somali AgriFood team, consisting of IFAD, HIRDA, Collert Consultancy and BiD Network staff attended the forum and was actively involved. Pedro de Vasconcelos (IFAD) and Laura Smeets (BiD Network) were invited for the plenary sessions to discuss challenges and opportunities for and needs of diaspora to finance Somali businesses. HIRDA, Collert and BiD Network offered pitch training sessions to invited entrepreneurs prior to and during the forum. A marketplace was set up at which Somali entrepreneurs as well as financial and business service providers could showcase their products and services and connect with each other. Here, the Somali AgriFood team offered entrepreneurs and investors the possibility to get information about the Somali AgriFood program and fund and to sign up directly. During the forum, several plenary and breakout sessions took place and closed investor pitching events were organized for a preselected group of entrepreneurs. The actual outcomes of the forum in terms of deals made will surely become clearer in the coming weeks, but there is no doubt about the extent at which networking took place. We are grateful to Shuraako, the World Bank Group and the US Embassy for organizing this much needed forum, bringing together different players in the field of private sector development, aiming to strengthen access to new types of finance for Somali businesses. Do want to know more...

Invitation: Amsterdam Somali Diaspora Meeting – Presenting the Somali Investment Forum

Presenting the ‘Somali Investment Forum: Returning Capital for Growth’ Date: Tuesday, February 2, 2015 Time: 18.00 – 19:30 Location: SOMVAO – Hamerstraat 24, 1021 JW Amsterdam Shuraako invites you to attend a special meeting for Somali diaspora to be held on February 2, 2015 at SOMVAO office. In anticipation of the Somali Investment Forum (SIF): Returning Capital for Growth, (described below) hosted by Shuraako and the US Embassy. The Amsterdam diaspora meeting will provide an advance overview of the SIF, highlight investment opportunities, and solicit investors to attend and pledge capital. Somali-based businesses seeking capital will be invited to pitch their investment request at the Forum directly to investors. We will also provide an overview of likely participants (i.e., investors, partners, financial firms, etc.). The SIF will provide an excellent opportunity for networking. Forum Overview: The Somali Investment Forum: Returning Capital for Growth (March 8-10, 2015 in Nairobi, Kenya), will bring together diaspora investors/entrepreneurs, local Somali entrepreneurs, and sources of investment capital for a 2 ½ day event. Day 1 Breakout sessions will explore sector specific opportunities and needs and offer a trade show for participants. Day 2 will culminate in a ‘pitch ring’ where investors hear business presentations with the option to issue letters of interest and begin due diligence. Shuraako has secured an initial pledge of $100,000 investment capital which will act as a matching fund for local financial institutions, diaspora investors, impact funds, and others. An additional four investors have issued verbal commitments of $100,000 each and indications are that SIF commitments could well exceed $1million (USD). Shuraako has begun a grass roots promotion of the...

Somali Diaspora Investment Event in the Netherlands

On Saturday the 13th BiD Network and Nedsom together with Diaspora Business Centre organized an event for Somali diaspora to promote investment opportunities in the different Somali regions. Dozens of interested came together in The Hague to learn more about the Somali AgriFood program and IFAD Matching Grant Fund and to hear about experiences with entrepreneurship in Somalia. The afternoon started with a word of welcome by Guled Yusef of Nedsom. After that, Annemarie van Mossel of BiD Network explained about the services of BiD Network, the Somali AgriFood program and IFAD Matching Grant Fund and the meaning of business angels. The main goal of the Somali AgriFood program is supporting and increasing small and medium businesses in the agriculture, food-processing and fishery sectors and involving the diaspora for more and sustainable investments. The day continued with several guest speakers sharing experiences and knowledge on modernizing agriculture and discussing entrepreneurship in different Somali regions. A Q&A with BiD Network and the guest speakers closed the day off. The Importance of Investments The Horn of Africa is one of the regions in Africa at an economic turning point. The power of the economic development is mainly in the hands of local Somali entrepreneurs and the Diaspora investments that support them. Increased investment, in which the Somali Diaspora plays an important part, is very important for the development of the Somali regions. Have you ever thought about investing in small businesses? Do you have any friends, family members, or associates with a Somali business in need of finance? Visit our websites for more information and to join the Somali AgriFood program:...

Somali Diaspora Investment event

Investment Opportunities for Somali Diaspora Location: Hampshire Hotel – Babylon, the Hague Address: Bezuidenhoutseweg 53 – 2594 AC – The Hague, The Netherlands Date and time: December 13, 14:00 – 18:00 On Saturday the 13th of December 2014 Nedsom and BiD Network will host an event for the Somali Diaspora in The Netherlands to promote investment opportunities in Somaliland, Puntland and South and Central Somalia. This event is meant to inform Somali diaspora about the Somali AgriFood project. The main goal of this project is supporting and increasing small and medium businesses in the agriculture, food-processing and fishery sectors and involving the diaspora for more and sustainable investments. The event will highlight the impact of Diaspora investment and the role of SMEs for local development. The project is organized by BiD Network, IFAD and supporting partners. The Horn of Africa is one of the regions in Africa at an economic turning point. The power of the economical development is mainly in the hands of local Somali entrepreneurs and the Diaspora investments that support them. Increased investment, in which the Somali Diaspora plays an important part, is very important for the development of the Somali regions. The Somali Diaspora event will therefore highlight the impact of Diaspora investment and the role of SMEs for local development. The IFAD Matching Grant Fund will be presented as an interesting co-financing opportunity for investors in the region. Have you ever thought about investing in small businesses? Do you have any friends, family members, or associates with a Somali business in need of finance? Please feel free to participate in the upcoming event and...

Invest in Somali AgriFood businesses with reduced risk?

Last Friday evening, SomVao, a 20 year old Somali association in Amsterdam, together with BiD Network and Collert Consultancy organized an event to promote the Somali AgriFood program that is funded by the International Fund for Agricultural Development (IFAD). The program aims to facilitate access to diaspora finance for small and medium sized enterprises in agriculture, food processing and fishery in Somaliland, Puntland and South and Central Somalia. The event attracted over 60 potential Somali entrepreneurs and investors, who came from all over The Netherlands to hear more about this initiative. Many entrepreneurial people with loads of business ideas and questions discussed the opportunities the program could bring them when investing in businesses in their home country. The program offers mentoring and training services to get entrepreneurs and investors ready for finance as well as a fund that that stimulates specific investments in the agriculture, fishery and food processing sectors in Somalia. BiD Network supports entrepreneurs in emerging markets to get ready for finance and matches entrepreneurs and investors. Since 2007, more than 150 entrepreneurs worldwide have been linked to financiers such as business angels, SME funds, philanthropic organizations and banks, for a total value of more than USD 22 million. Collert Consultancy supports Somali businesses in the Horn of Africa via consulting, research, recruitment and training. Collert consultancy helps people, organisations and companies to explore opportunities, manage and sustain growth, and maximize revenue. For this project, Collert Consultancy assists in the identification and support of and facilitation of access to finance for Somali SMEs in the food- and agriculture sector. There are many risks associated with running a business...