Somali lore recounts that Bandar Qasim – a 14th Century Arab trader – and a camel named Boosaas settled on coast of northern Somalia in what is today called Bossasso.
Bossasso is the capital city of the Bari region and, with its strategically important port, the commercial hub of Puntland. Though the city boasts a thriving private sector, there remains a lack of economic opportunity for women and youth.
The Stability Fund, in collaboration with a local NGO called Help Leads to Hope, is piloting an innovative loans and grants scheme to support women who demonstrate business savvy and leadership potential.
In the coming months, the Fund will also extend a helping hand to Bossasso’s youth through establishment of a commercially-run youth center providing services and a space for the town’s youth to come together in pursuit of common objectives.