The United Nations Development Programme (UNDP) and the Hormuud Salaam Foundation (HSF) have announced a partnership to combat Somalia’s high youth unemployment by investing in the country’s green and blue economies.
The 18-month, $820,000 programme, is supported by Hormuud Telecom and Salaam Somali Bank. It aims to reach over 2,000 young people and 360 small and medium-sized enterprises (SMEs), with a deliberate focus on ensuring at least half of the beneficiaries are women or female-led businesses.
The launch event was attended by government officials, including the Hon. Jibril Haji Abdi, Deputy Prime Minister of Somalia, alongside the Ministers of Youth and Sports, and the Deputy Minister of Labour and Social Affairs, highlighting the initiative’s national importance.
The partnership is structured around several critical activities designed to foster a robust business environment, promote digital innovation, and expand employment opportunities:
- Shaqo-Abuur Digital Employment Platform: A new online hub connecting youth with verified job opportunities, essential skills training, and mentorship.
- Innovation Lab: A space for developing and testing business models in high-growth sectors, including renewable energy, fisheries, aquaculture, and circular waste management.
- Business Incubator and Accelerator: Targeted training focused on marketing, business management, and financial literacy for youth and women entrepreneurs.
- Access to Finance: Provision of Sharia-compliant microloans and seed funding for green and blue businesses through Salaam Somali Bank.
- Digital Investment Platform: Development of an online system to attract vital investment from local and diaspora investors.
- Skills Development: Implementation of new TVET, job-related, and digital skills programmes for youth, including displaced communities and people with disabilities.
- Regulatory Reform: Reviewing key regulations to propose reforms that will create a more transparent, inclusive, and simpler investment climate.
Lionel Laurens, UNDP Resident Representative in Somalia, stated, “With the Hormuud Salaam Foundation providing financial backing, Hormuud Telecom driving digital innovation, and Salaam Somali Bank facilitating Islamic finance for young entrepreneurs, this partnership is a powerful example of Somali-led development.”
Abdullahi Osman, CEO of Hormuud Salaam Foundation, emphasized the goal: “In every corner of Somalia, you meet young people with ideas ready to take off… They don’t need charity; they need a fair chance. This partnership gives them that, the skills, capital, and confidence to build something lasting.”
By linking employability, enterprise, and sustainability, the partnership supports Somalia’s National Transformation Plan (2025–2029) and Vision 2060.