Kaaba Microfinance Institution

About

Location: Somaliland
Key(s): Economic Empowerment

Kaaba Microfinance Institution (K-MFI) is a financial service provider that strengthens the economic base of the low-income women farmers and women livestock owners, youth, micro-businesses. K-MFI has been operating under its parent foundation known as Doses of Hope Foundation (DHF) since 1999. Despite many challenges and constraints, the institution managed to build itself from a microcredit project that started with 150 clients, to a microfinance institution that has served up to 14000 clients from 1999-2015- out of which 80% are low-income women. K-MFI has currently over 6400 active clients and is operationally sustainable since 2012 with a repayment rate of 98%.

In partnership with Rockflower, K-MFI will in this project access financial service to 200 women farmers living in the rural areas of Somaliland. The overall goal of this project is to increase and expand the productivity of these women farmers and to create for them sustainable and resilient livelihoods through the provision of financial services. The project will further indirectly benefit another 1400 of their dependents. K-MFI will offer loans of up to USD $250 to the 200 women-farmers who require capital to increase their agricultural production and compete in the local markets. The project also provides financial literacy training as well as a mandatory savings account for each group.

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