KIMS Microfinance extended its investment opportunity to fishery sectors in Bajuni islands, situated on the southern coast of Somalia and home of the Bajuni people. This community grew crops, built ships, traded in the mainland and fished in the Indian Ocean.
KIMS team traveled to Bajuni Island where they visited Baba Jeylani, who is one of the inhabitants of Chula, which is the only island with a significant population. Jeylani started his fishing business a few years ago but struggled with a lack of capital for equipment.
Baba Jeylani was introduced to KIMS by fishermen who had already received loans from KIMS while on a visit to Kismayu. Jeylani applied for a loan without hesitation; “KIMS gave my fishing cooperative 8,000$. We have already paid back half of the money and we are hoping to finish the rest very soon so that we can qualify for bigger loans.”
The growth of fishing has the potential to support local livelihoods and the island economy. Jeylani explains how he managed to hire 106 men who now support their families - “In the near future when I qualify for the second loan, I will increase the number of people I provided with Job opportunity from 106 to 200.”
With KIMS generous investment,Jeylani’s fishery cooperative is growing fast, now three times bigger than before investment. He has bought 34 boats, together with all the necessary fishing tools. Today,Jeylani is well known in his community, people come to him for assistance. He trained many of the youth living in these islands on how to fish and make business out of it.
He added “Lack of training opportunities, lack of consumer education for fishing communities and the absence of a regulatory framework for the industry are serious limitations today. But with the right knowledge, equipment and KIMS support, the poor communities are turning fishing into a profitable business.” Mr. Jeylani is very proud and happy that he is now able to send his children to better schools and university while also building a larger house for his family.