Our Strategic Objectives
#1
To showcase the Somalia microfinance industry within and outside the country; introduce quality financial products and services offered by member MFIs.
#1
To showcase the Somalia microfinance industry within and outside the country; introduce quality financial products and services offered by member MFIs.
#5
To champion governance and management principles, and disseminate and require adherence to best practices across the industry.
#5
To champion governance and management principles, and disseminate and require adherence to best practices across the industry.
#2
To form strategic alliances with banks, non-banking financial institutions, banking and microfinance associations, donors, funders and government stakeholders.
#2
To form strategic alliances with banks, non-banking financial institutions, banking and microfinance associations, donors, funders and government stakeholders.
#6
To strengthen the capacity of MFIs through needs-based training, technical assistance and peer exchanges
#6
To strengthen the capacity of MFIs through needs-based training, technical assistance and peer exchanges
#3
To be at the forefront of helping the industry in managing risk and introducing internal controls resulting in responsible growth.
#3
To be at the forefront of helping the industry in managing risk and introducing internal controls resulting in responsible growth.
#7
To advocate for an enabling and conducive microfinance environment and for the inclusion of microfinance in the financial sector
#7
To advocate for an enabling and conducive microfinance environment and for the inclusion of microfinance in the financial sector
#4
To continue to look for integrated information and communications technologies with management information systems (MIS) for better portfolio and financial management and improved transparency
#4
To continue to look for integrated information and communications technologies with management information systems (MIS) for better portfolio and financial management and improved transparency
#8
To foster innovation in the microfinance sector by researching and highlighting leading trends in technological developments, product diversification and new financial services
#8
To foster innovation in the microfinance sector by researching and highlighting leading trends in technological developments, product diversification and new financial services
Who we are
The Somalia Microfinance Association, a member-driven association, a grass-roots one that plays an active role in shaping and advancing an inclusive, sustainable microfinance industry in Somalia, and contributes to the development of the industry in the region.
Build strong Microfinance Industry
Support infrastructure for microfinance
Our Membership
Members range from microfinance institutions (MFIs), banks, non-governmental organizations, donors, social and commercial investors to development institutions, financial sector regulators and multilateral agencies working in Somalia with an interest and are directly involved in supporting an inclusive financial sector.
Our Pioneer Member Institutions
SOMMA currently has six pioneer microfinance institutions under one the umbrella of Somalia Microfinance Association. These MFIs are namely Amaana MFI, Bushra MFI, Kimis MFI, Maal MFI, Midnimo MFI and in Somalia.
What we do
The Association plays a catalytic role in increasing institutional capacity, promoting transparency and creating an enabling environment for the member institutions, particularly MFIs to effectively serve the microfinance industry.
Our Approach to building the Somalia Microfinance Association
Sector development
Create an enabling Macroeconomic environment favorable for microfinance to thrive in Somalia
Sector development
Create an enabling Macroeconomic environment favorable for microfinance to thrive in Somalia
Meso-Level
Build strong Microfinance Industry Support infrastructure for microfinance
Meso-Level
Build strong Microfinance Industry Support infrastructure for microfinance
Macro-Level
Creating a favorable legal and regulatory environment favorable for microfinance to thrive through Active engagement of Key stakeholders.
Macro-Level Approach
Creating a favorable legal and regulatory environment favorable for microfinance to thrive through Active engagement of Key stakeholders.
Micro Level
Implementing Direct Technical Assistance Programs/Interventions at the Individual MFI/FI levels through such initiatives..
Micro Level
Implementing Direct Technical Assistance Programs/Interventions at the Individual MFI/FI levels through such initiatives like MIS systems support, Product development, Capacity building, Business planning support etc
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Welcome to SOMMA
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