Somalia
Follow our journey in Somalia and Somaliland working with the diaspora. Learn the difference, Be the difference
Country Objectives
1. Diaspora mapping report
Develop a mapping report to analyze diaspora remittance to Kenya, Ethiopia and Somalia. By identifying how remittance is being allocated in terms of consumption, investment and other areas. The mapping report will be developed to provide better insight to the development sector and other stakeholders in how the diaspora can play a bigger role in supporting SME’’s.
2. Diaspora fundraising pilot
Develop a simple and innovative technology platform for donation/investment by the diaspora and influencers. The fundraising tool will support startups in Kenya for the pilot to demonstrate impact by improving their ability to grow. This activity also includes presenting and implementing a strategy to engage diaspora in Nordic countries. This activity will also demonstrate a strong catalytic effect to show donors that this is a project that drives value for money. After successful results in Kenya this activity will be scaled to Ethiopia and Somalia (Phase 2)
3. Islamic financing solutions
Develop a simple and innovative technology platform within Islamic financing in collaboration with partners to help startups with fundraising, financial inclusion and mobilize resources. After successful results in Kenya this activity will be scaled to Ethiopia and Somalia (Phase 2)
4.Institutional partnership solutions
In dialogue with relevant Swedish Embassies develop a report on potential institutional partnership solutions for each of the partner countries in the full-scale project. Present how coordination and value addition to other similar initiatives can be secured, including programs and partners already receiving Swedish funding
Read the Diaspora Mapping Study
Findings/learnings in Somalia - Mapping report
- Somalia’s investment legislation is reflective of efforts to encourage foreign investment into the country. The National Investment Promotion Strategy illustrates the government’s coordinated roadmap towards transforming Somalia’s investment image and will be targeting the diaspora with an outreach programme.
- Need for regulatory reforms that would ease the flow of cash – particularly cashing out or getting one’s money back from investments for repatriation in dollars or another foreign currency.
- There are clear opportunities for getting the diaspora involved in causes generating impact in their country of heritage. What is needed is transparent processes and verifiable impact generated.
- Somali diaspora groups send money back home to support families with basic needs. Somali communities do not like discussing their finances outside the trust circle of friends or family. Discussing finances or investment is uncommon as is seen as high risk exposure.
- Read more findings in the mapping report by Pangea Trust below
MAPPING REPORT
Validation workshops in Somalia
As part of launching Pangea’s mapping report for the diaspora we organized a validation workshop for Somalia. The validation workshops included key stakeholders from Somalia to discuss the findings of the diaspora report. The report also discusses the perspective of islamic finance with an emphasis on opportunities and challenges.
Our diaspora mapping reports have been captured by several media outlets such as BBC, KTN, amongst others. Here you can access some of our 30+ news articles generated during the inception phase of the Diaspora Investment project
Our focus has been co-creating the solution together with the African diaspora
The development process has been designed as a co-creation process to enable the African diaspora to be involved in the development process. This has been achieved by organizing a series of interviews, roundtable discussion and workshops.
INNOVATION
Our Startup Program
