By Zakarie Hassan - Reporter
Somalia, 23 May 2026 – Somalia has launched sharia-compliant livestock financing programme to give livestock producers, traders and small businesses easier access to credit.
The programme, known as Kobciye, was launched at an event in Mogadishu on Saturday attended by government officials, development partners, financial institutions and representatives of the private sector.
According to organizers, the initiative is designed to provide Sharia-compliant financing to pastoralists, livestock transporters, traders and small and medium-sized enterprises (SMEs) involved in livestock production and related services. The programme places particular emphasis on improving access to finance for women, youth and underserved communities.
Officials said the scheme would help beneficiaries access financing, strengthen business growth, improve market access and increase financial inclusion in one of Somalia’s most important economic sectors.
The programme is expected to benefit more than 1,000 livestock producers and entrepreneurs, with the aim of expanding access to finance and supporting the growth of livestock-related businesses. Officials said 57 beneficiaries had already received financing before the programme’s official launch, while additional recipients are expected to be supported in the coming phases.
“Today we launched a service called Kobciye, which is intended to support the entire livestock business ecosystem,” said Abdirizak Ali Warsame, Deputy Chairman of IBS Bank.
Related articles
He said the programme would provide tailored Islamic finance services to businesses of different sizes operating in the livestock sector and related industries.
Somalia’s State Minister for Livestock, Suleiman Ali Hussein, welcomed the initiative and called for greater investment in livestock production and related industries, including modern slaughterhouses, poultry production and other value-added agricultural activities.
According to the World Bank and the U.N. Food and Agriculture Organization (FAO), livestock remains Somalia’s largest export sector, accounting for about 70% of export earnings and supporting the livelihoods of more than 60% of the population.
Officials said improving access to finance is critical to increasing productivity, expanding market opportunities and strengthening resilience across the livestock industry, which remains a key driver of economic activity and rural livelihoods in Somalia.
Ad
Ad