Waheen Market Relief: Cash Injection for affected MSMEs

Challenge

Waheen Market, Somaliland's largest market, was a thriving business center with connections to other major markets in the region. It was estimated to have hosted five thousand small and large businesses and offered direct and indirect employment to hundreds of thousands of people. Additionally, Waheen Market served as a major distributor of goods, meeting the needs of communities in Somaliland, Ethiopia, Somalia and Djibouti.

On April 1, 2022, a devastating fire swept through Waheen Market, wiping out the majority of businesses and assets. Reports estimated the damage to be around 2 billion USD and the loss of 65,000 direct and indirect jobs. The effects of the fire were felt by businesses of all sizes, however, street vendors and micro business owners (the majority of whom are women and youth) were hit particularly hard. As these individuals typically lack diversified sources of income, the fire resulted in the complete loss of livelihood for many.

Project Goals

• Provide cash grants to 80 micro business owners.

• Mentor & train businesses in basic bookkeeping practices.

• Assist impacted households regain livelihoods & resume market activities.

• Train 8 social workers to offer psychosocial support to women business owners.

• Establish dedicated hotline for business support.

Key Activities

• Collaboration with national Ad-hoc Waaheen Committee to ensure successful project execution.

• Identification of needy businesses.

• Mentorship for the supported businesses.

• Transferal of grant fund ($ 925 per business) to the committee bank account.

• Establishment of a dedicated hotline for business support.

Impact

52 of the project's 80 beneficiaries were female and 28 were male. Nearly 476 people from individual households indirectly benefitted from the project.

• Businesses are now bankable.

• Performance and productivity of businesses has been raised through profit and loss accountability.

• Businesses have a platform to access advice and assistance whenever they needed it.

• Businesses are more aware of safety and security measures.

More Details

Project Director: Ahmed Yusuf Mohamed | Email

Location: Hargeisa, Somaliland  

Start Date - End Date: 15/05/2022 to 30/09/2022

Partner(s): Oxfam