Hargeisa Gift Shop was established by Hayat, a 24 year old woman, who recently graduated from the University of Hargeisa and became one of the winners of a business plan organised by Shaqodoon (SPARK’s local partner) and Micro Dahab in November last year. Prior to winning the competition, Hayat had completed a 4-week training on entrepreneurship and business plan development by Shaqodoon under the LEAD programme. With Shaqodoon’s strong relationship to the Somalia/land financial institutions, Dahabshiil Bank agreed to finance graduates of the entrepreneurship training. As such, Hayat was offered an opportunity to present her business plan to an investment committee from Dahabshiil Bank, who conducted due diligence on the viability of her business plan, and awarded her a loan of $11,221.
Hayat was provided with a two year plan in order to repay her micro-loan. Yet it is unlikely that she will need these whole two years. In fact, within the first three months since establishing her business, Hayat had already repaid 50% of her loan! We have no doubt that she will continue to make great progress.
“My dream has come true, thanks to Shaqodoon and Micro-Dahab. Now I’m a manager of my own business instead of being employee”. She added: “My business is experiencing huge growth according to the percentage of sales I have made per day since my businesses was established”.
Gift shops are one of the missing businesses in Somaliland, and social media has certainly played a vital role in ensuring Hayat’s success. She has tapped into the local demand for celebratory bouquets, gift-wrapped toiletry sets, as well as a recent range of gifts just for graduates, by posting regularly on Facebook about her latest offers.