By Abdullahi Salad - Reporter
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MOGADISHU, November 4, 2026 — Amal Bank has pledged to finance small cooperatives working in local production, particularly in the livestock, fisheries and agriculture sectors.
The pledge was made at the launch ceremony of the Kobciye Cooperative, held in Mogadishu.
Amal Bank's Southern and Central Somalia Manager, Ali Mohamud Shegow, said the bank is ready to finance small cooperatives that wish to supply their products to Kobciye.
Kobciye has announced that it wants to see many cooperatives established, from which it will buy products in the livestock, fisheries and agricultural sectors.
"As Amal Bank, we are ready to finance small cooperatives that hope to supply their services to Kobciye in the future, considering the particular importance they have for the country's production and economic development," Shegow said.
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He added that Amal Bank is not just a financial institution, but a bank that wants to play an important role in growing the economy, developing business and supporting Somali society.
Shegow said he himself is a member of the Kobciye Cooperative, a Somali cooperative open to every Somali, wherever they are in the world.
He said Kobciye's service is part of Amal Bank, and that members can pay bills and membership fees through Amal Bank's MyCash app.
Kobciye is a Somali investment cooperative established in June 2016 and owned equally by its members. It focuses on investment in agriculture, industry and community development, with each member contributing $0.50 a day, equivalent to $182.50 a year.