Innovest’s Microfinance Client Recognised by UN Refugee Agency

December 13, 2017

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Insight

No Poverty

Reduced inequalities

Sub-Saharan Africa

Innovest’s microfinance client Kaah International Microfinance Institution [KIMS] was recognised by UNHCR in their article and video about the UN Refugee Agency’s support to refugee returnee livilihoods in Somalia. Their publication followed KIMS win of the $100,000 first prize at the EFICA Awards last month.

KIMS is Somalia’s only dedicated, privately owned microfinance institution, providing responsible and Shariah compliant financing and micro-savings to Somali micro and small businesses. Since its launch in 2014, they have provided more than $7 million in life-changing financing to over 8,000 Somalis [including refugee returnees, internally displaced people and groups at risk of leaving the country].

As the implementing partner for the microfinance component of the UNHCR funded project, KIMS was praised for the impact of its programme in giving Somali returnees a chance to rebuild their lives.