AgriFood: Investing in Somali Enterprises
||South Central Somalia
||Enhancing Food Security in the Horn of Africa through Diaspora Investment in Agriculture
contribution to sustainable economic growth in emerging markets through entrepreneurship
HIRDA Foundation enters a strategic partnership with BiD Network, an NGO for small and medium enterprises (SME) development in emerging markets. Three members of HIRDA staff in Hargeisa, Somaliland, have undergone a Ready 4Finance Training program and are ready now to provide local entrepreneurs with help on writing business plans, pitching their plans, making realistic budgets and finding investors.
The object of HIRDA’s partnership with BiD Network is to generate 100 business plans for Somalian start-ups and 25 business plans for existing businesses in the period from October 2014 to July 2015. HIRDA also aims to contribute six diaspora co-financed businesses, since one of the project goals is to involve diaspora into financing SME.
Since 2005 HIRDA has been implementing SME projects, such as the Water project (link) and the empowering women project. BiD Network in collaboration with other NGOs is carrying out the AgriFood Project (link) in South Central Somalia, Somaliland, and Puntland. The project aims to connect local farmers and SME in food and agricultural sector with potential investors and to help entrepreneurs write business plans and grow their business.