Somalilandsun- The chairman of Dahabshill group Mr. Abdirashid Saeed Dua’le has participated in a Sweden International Development Aid (SIDA) conference in Hargeisa. This is according to news seconded from BBC Somali Radio Services by Somalilandsun.com.
The meeting organized by SIDA was attended by Financial Institutions in Somaliland. According to Dahabshiil chairman the initiation of this symposium by SIDA shows they have confidence with the government and people of Somaliland.
Chairman Abdirashid stated that SIDA intends to support small businesses in conjunction with Dahabshill Bank which is a leader in micro finance initiatives. The SIDA boss was in attendance.
The Dahabshiil boss revealed that SIDA only give technical advice to financial institutions and not cash, for instance how to work with small business.
Pertaining small trader the Dahabshiil boss said “Some have ideas and lack the capital other have money but have no idea while other have less money and the know how to start a business. As you know before starting a business there are some factors to consider like feasibility test, business plan after which follows the capital to start the business, then comes the knowledge to manage the business money.”
Mr. Abdirashid stated that Somaliland as a country has the potential for many opportunity for those wishing to start a business.
When asked by journalist Ahmed Saeed Ege of BBC Somali if SIDA was going to pass the funds for development through the banks Mr.Abdirashid of Dahabshiil said “SIDA is a development agency and is not going to give us fund but they are trying to motivate financial institution to participate in the development of the ordinary people who lack the resources to start businesses.”
SIDA wants the banks to help fund small scale entrepreneurs by giving them microfinance services and technical advice to run their businesses.
By:Guled Abdi Mahir