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WorldRemit launches $500m Somaliland fund

Hargeisa (SD) – The Vice President of the Republic of Somaliland, Abdirahman Abdullahi Ismail (Saylici) today attended the launching of the new Exploration Umbrella, by the Founder of WorldRemit, Ismail Ahmed, with the aim of finding solutions to the obstacles to Somaliland’s development and promoting entrepreneurship in the country.

According to the Vice President WorldRemit announced today that it has donated $ 500,000,000 to health and education services in Somaliland.

“In choosing to move away from traditional solutions offered by the aid sector, Somaliland has received very little development assistance,” the Sahamiye Foundation explains.

Businessman Ismail Ahmed has pledged to donate five hundred million dollars of his assets and will invest in the country over the next ten years.

The businessman has previously donated one million dollars to Covid-19 prevention efforts in Somaliland.

“As we have seen from recent inward investment to Somaliland, the potential multiplier effect is even more compelling,” Ahmed told fintech futures.

Somaliland government recently appealed to the country’s business community to help with the resurgence of the Covid-19 virus in the country.

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