Fighting Poverty in Somalia

FINCA helps Somali living in poverty access basic services to improve the quality of life for themselves and their families.

Statistics1

1 FINCA VENTURES INVESTEES 

Energy INDUSTRY SUPPORTED

Customer Testimonial

FINCA-Ventures-impact-investing

Jane Namusisi

For a long time, the reliance on kerosene lanterns gave Jane Namusisi constant worry. Now, a high-quality and affordable solar home system fills her home with clean, reliable lighting. “With kerosene lamps, I worried that the children would get burned in the house or there would be damage to my property.”

Products & Services

Energy

Facts about Somalia

Somalia collapsed into anarchy following the overthrow of the military regime of President Siad Barre in 1991. Since 2012, when a new internationally-backed government was installed, Somalia has been inching towards stability, but the new authorities still face a challenge from Al-Qaeda-aligned Al-Shabab insurgents. Poverty and financial inclusion statistics are not available at this time for Somalia.

Somalia, along with much of sub-Saharan Africa, is on the verge of a crisis. By 2035, the International Monetary Fund estimates the number of Africans joining the working age population will exceed the rest of the world combined. To fill this surge, 18 million new jobs will have to be created each year for the next 20 years across sub-Saharan Africa. In the meantime, Somali rely on the informal sector for a chance to earn a living. In addition, access to basic services, like energy, water and sanitation, education, health care and agriculture, is often inadequate.

When poor people have access to financial services and life-enhancing products, they can earn more, build their assets, create jobs and cushion themselves against external shocks. FINCA is helping Somali improve their lives by supporting access to basic services through FINCA Ventures.

N/A LIVING BELOW POVERTY LEVEL 2 

N/A ANNUAL PER CAPITA INCOME 3 

N/A FINANCIALLY EXCLUDED 4

Contact

FINCA Ventures

1201 15th St NW
8th Floor
Washington, DC 20005

Telephone

+1 (202) 682-1510
Visit Website

1Information is updated on an annual basis
2Poverty headcount ratio at national poverty lines (% of population)
3GDP per capita, PPP (current international $)
4Adult population lacking account at a formal financial institution

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