Delegation of the European Union for the Pacific
Responsible for Cook Islands, Federated States of Micronesia, Fiji, Kiribati, Nauru, Niue, Palau, Republic of Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu as well as the four Overseas Countries and Territories in the Pacific

Khatro's story: How financial literacy and access to finance changed her life

14/06/2019 - 11:10
News stories

"My name is Khatro. I am the mother of 11 children. I live in Kismayo, Jubaland State of Somalia.

3 years ago I was in a very dire situation and I could hardly feed my family. We were dependant of the support our community could provide.

Fortunately an initiative started to support the most vulnerable people of our community. A community relief committee had been set-up and they agreed on the criteria to select the beneficiaries. I was so happy when I was informed that my family was chosen to receive regular cash transfers!! This money helped me a lot to cover for the basic needs of our households, especially during difficult time.

Later on, I was encouraged to join a group of 15 people willing to engage in an economic activity.  We received not only some training on entrepreneurship and information on market's opportunities but also US$ 500 to start a business. We decided to open a shop. Every week we were meeting to review how our business was doing. And it was doing well!

I realized it was a good investment and wanted to start my own shop to make an extra income for my family. I convinced my husband it was a good idea. So we did our best to make some small savings and I could open my little shop in Kismayo town.

Later on, I joined some information sessions organized by the project and AMAL bank to understand better how to run well a small business. The bank said they could offer some loan if we were meeting some conditions and partnering with a trader. I was interested as I needed more cash to buy more products for my shop. As my business group had opened a bank account, this helped me to meet the conditions and to open an account as well. I partnered with a wholesaler I knew and asked for a loan of US$500 from Amal bank. The bank paid directly the goods to my partner and I was able to get the stock. Thanks to this investment I had more customers, made bigger incomes and I was able to pay back the loan on time, in 6 months. Since my experience was positive, I took a second loan of USD 1,000 in order to increase my business and I paid it back in six months as well. My business is booming and I need more stock, so now I have made a new loan of USD 2,000 that I am currently repaying. I have been able to save money. I have US$ 1200 in my bank account.  So I am very confident in the future now!

I had never imagined I could have access to this type of financial and business opportunities. I am so grateful!!! This project has changed my life! I am also very proud to have inspired two other members of my community to follow my example and ask for a loan to finance their business ideas!"


This is one example of one of the success stories enabled by the EU investment implemented by the STREAM consortium in partnership with Jubaland's authorities



Project name: Building Resilience through Social Safety Nets in Lower Juba, Somalia

Implementing partner(s): STREAM consortium : ACTED, SADO and ADESO

EU contribution to the project:  EUR 10,000,000 (90% of total budget).

Duration: 3 years 1/2 (2015-2019).

Regions covered by the project: Lower Juba (Kismayo, Afmadow, Dhobley)

Beneficiaries of the project:

  • 5,000 households with regular cash transfers and livelihood support
  • 30 communities better prepared to face disasters

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