BACKGROUND

FSD Somalia was established in 2012 with the aim of promoting financial inclusion and access to finance in Somalia. Over the years, we have worked with various stakeholders in the financial sector to develop innovative and sustainable financial products and services that meet the needs of all Somalis.

Target Audience:

The target audience for FSD Somalia’s programs and services are the poor, women, youth, and people with special needs who are typically excluded from the formal financial system in Somalia.

Organizational Structure:

FSD Somalia is governed by a board of directors, with day-to-day operations managed by an executive director and a team of staff and volunteers.

Partnerships and Collaborations:

FSDSomalia works with a range of partners and collaborators to promote financial inclusion and access to finance in Somalia. These include microfinance institutions, banks, mobile network operators, government agencies, NGOs, and other stakeholders in the financial sector.

Funding and Financial Information:

FSD Somalia is funded by donors and development partners, including the UK Department for International Development (DFID), the Swedish International Development Cooperation Agency (SIDA), and the United Nations Development Programme (UNDP). Our funding sources are diverse and we are committed to ensuring transparency and accountability in our financial management.

Achievements and Impact:

Since our inception, FSD Somalia has made significant progress in promoting financial inclusion and access to finance in Somalia. Some of our notable achievements include:

  1. Supporting the development of digital financial services in Somalia, including the launch of mobile money services in several regions of the country.
  2. Promoting the establishment and growth of microfinance institutions in Somalia, which have provided affordable financial products and services to thousands of small businesses and individuals.
  3. Conducting research and development activities to identify best practices and innovative solutions for promoting financial inclusion and access to finance in Somalia.
  4. Advocating for policy and regulatory reforms that support financial inclusion and access to finance in Somalia.
  5. Promoting financial literacy and education to increase awareness and understanding of financial products and services among the general population.

FUTURE PLANS

FSD Somalia’s future plans include:

  1. Supporting the growth and development of digital financial services in Somalia to increase access to finance.
  2. Expanding our microfinance programs to reach more small businesses and individuals who are excluded from the formal financial system.
  3. Conducting further research and development activities to identify new and innovative solutions for promoting financial inclusion and access to finance in Somalia.
  4. Advocating for policy and regulatory reforms that support financial inclusion and access to finance in Somalia.
  5. Strengthening our partnerships and collaborations with stakeholders in the financial sector to promote collaborative behavior and financing across the market.
  6. Providing technical assistance and advisory services to the financial sector in Somalia to support the development of affordable and client-responsive financial products and services.
  7. Engaging with other financial sector deepening organizations in Africa and internationally for mutual collaboration and resources.