As a program of the One Earth Future Foundation, Shuraako believes that women play a vital role in sustaining a more peaceful world. Shuraako tracks the addition of jobs for women for each of the companies with which we work through midterm progress reports. Below are three businesses that added jobs for women from the June 2020 progress report to the June 2021 progress report.
Founded in 1988, Corno Africa Fishing Company (“CAFCO”) is one of the largest fishing companies in Puntland. Today, CAFCO has a diversified revenue stream that includes services such as selling fresh fish, selling fuel for fishing boats, repairing and servicing outboard engines, and refilling oxygen tanks for lobster divers. CAFCO aimed to sell its fish in additional domestic and foreign markets but was limited by the challenges of preserving fish throughout the supply chain.
A 2016 Shuraako-facilitated investment supported CAFCO in increasing the market price of harvested fish through the procurement of a blast freezer and refrigerated truck. The investment was very successful, and in 2019, CAFCO received an additional Shuraako-brokered investment from the Nordic Horn of Africa Opportunities Fund, to support its purchase of an 80T fiberglass boat equipped with cool storage, increasing the company’s export efficiency. CACFO continues to utilize its investments from Shuraako to grow with a focus on adding permanent jobs for women.
KEEPS case study
Kaafi Enterprise for Environmental Protection and Sanitation (“KEEPS”) has been operating as a waste management service in Somaliland since 2012. According to recent studies, only 65% of the daily waste generated in Hargeisa is collected due to inefficient equipment. To address this problem, KEEPS sought to increase its capacity and productivity through the acquisition of modern waste handling and disposal equipment. A 2014 Shuraako-brokered investment supported KEEPS in increasing its municipal solid waste services by procuring heavy equipment and transportation.
In 2019, after the successful repayment of its first loan, KEEPS secured additional financing from the Nordic Horn of Africa Opportunities Fund to expand its construction services capacity with the purchase of additional heavy equipment. These funds have enabled KEEPS to deploy two additional fleets of heavy machinery, increasing garbage collection, water development, and disposal services. The benefits of increasing these services include additional access to safe drinking water, improved sanitation in public spaces, and local job creation. Over half of KEEPS’s permanent jobs are occupied by women, and its compensation is competitive.
Ijaabo Water case study
Founded in 2004, Ijaabo Water (“Ijaabo”) is the only known piped water provider in Somalia that also purifies, bottles, and distributes water and ice products. With the use of three diesel generators and a 26.5 kw solar installation, Ijaabo powers its purification, bottling, and ice production, while also producing enough solar energy to draw out water to the company-owned piping where it is then stored in its water tanks. Established to provide accessible and clean water supply to homes and commercial entities in Mogadishu, the company has seen continued growth in its piped water services and has expanded to include complementary business lines such as bottled water and ice.
As demand for Ijaabo’s services grew, the company quickly became a household name in Mogadishu. Through a Shuraako-facilitated investment, the company was able to expand its serviceable area and reach new clientele by procuring the land, an 800 m3 water tank, and solar equipment (26.5 kw). This investment allowed Ijaabo to fully utilize its new well, established in 2015 through a previous Shuraako-brokered investment. The investment also allowed Ijaabo to increase its available water storage by 380 percent and its solar capacity by 100 percent. Ijaabo continues to grow via investment and has 35 permanent jobs for women.
As demonstrated, our investments in the Somali enterprises and startups result in the growth and prosperity of their operations and growth in human capital. Especially when it comes to human capital, in total, the three business cases contributed to over a 100 jobs created for women. As Shuraako is on a mission to enable and support Somali’s innovative businesses, we believe that Shuraako-facilitated/invested startups are capable of supporting the overall economic growth of Somalia and improving employability.
