TRANSFER TO MODERN FINANCIAL MANAGEMENT

TRANSFER TO MODERN FINANCIAL MANAGEMENT

Success Stories

Ali Khayre Omar Osman is the co-founder and manager of the Mogadishu based Kasmo Contracting and Construction Company for 12 years. He is extremely passionate to further develop and successfully grow his business. However as many other SMEs his business has some challenges to overcome in order to sustainably grow.

Managing the business financials is among these challenges. They specifically found it very difficult to properly record business transactions and have instant overviews of their customers (such as quickly finding the customers that buy on credit). From a business peer he was informed about the upcoming service of SMEF to implement financial management software for FGS based SMEs and approached SMEF to participate.

Subsequently, Mister Ali Khayre and his colleague Mister Ahmed (finance office) received six training days (in group and individually) to work QuickBooks financial management software. The business owner expressed his satisfaction about the received services as follows: “Now I have a clear and complete picture of the financial movement of my business. I am aware of the business expenses and specific items that make the highest sales. I can easily access accounts payable and account receivables to manage our cash-flow. The financial software made our business live easier and better.”

Building Quality Advisory Services in the Market

Building Quality Advisory Services in the Market

Success Stories

SMEF has developed a growing pool of business development services providers in Somaliland, Puntland and South Central Somalia, listed by skill set and expertise. One of them is, Invista Inc, a consultancy firm registered in Somalia with fully operating office in Garowe, Puntland. SMEF has selected Invista Inc as one of the business development consultant firms. The firm has also engaged freelancer consultants in Somaliland and the Southern Somalia as a part of the current expansion strategy. It was one of the first BDS providers that received business development from SMEF. Invista Inc has developed 12 business plans for the competition of the Somali Business Catalytic fund, of which 7 of them become successful.  5 of the serviced customers for the business plan become regular clients to Invista Inc and received several different BD services.  The served client has also recommended Invista Inc to other SMEs client who requested and received the services from them as well.

Faysal Jama Abdilaahi, a principal consultant of Invista Inc, told that they have learned a lot on the process of working with SMEF. They have increased their knowledge and processes on how to customize trainings for each business according to its unique characteristics. He continued to say “Now, we are able to provide full range of easy-to-use, scalable and customizable business solutions”.  Faysal also mentioned that they care about to deliver a top-quality service to their clients.

Invista Inc has increased the pool of SME services and market expansion as result of SMEF partnership and cooperation. SMEF is committed build the quality advisory services in the market.