When launched, “Narwi” will be the first online Micro-Endowment (or Waqf) platform. It will allow users to create a personal Endowment that they can contribute toward financing the young Arab micro-entrepreneur of their choice. Our mission is to connect these young micro-entrepreneurs with capital and knowledge, mobilized through the crowd, which enables them to grow sustainable businesses and create jobs for others. These endowments are reimbursed into the users’ account as the micro-entrepreneur makes their repayments, so that contributions move on to support others as well. Narwi will be implemented with a network of international and regional partners; it follows Silatech's successful partnership with Kiva in implementing "Kiva Arab Youth."
Kiva Arab Youth
Started in March 2012, Kiva Arab Youth is a partnership between Silatech and Kiva, the world's largest microlending platform which allows visitors to make direct, online loans of as little as $25 to young Arabs of their choice who are either starting a new business or seeking to expand an existing one. As of March 2014, Kiva Arab Youth had mobilized over 150,000 individuals who collectively have lent more than $6.7 million to fund 5,000 young Arab entrepreneurs through MFI field partners in six countries (Lebanon, Palestine, Iraq, Jordan, Yemen and Somalia, the latter two having been brokered by Silatech).
Microfinance Technical Assistance Project – Puntland
Silatech is supporting a Puntland-based NGO, Help Leads to Hope, to design and launch a youth-focused microfinance institution—Kaamil MFI—which will facilitate access to loan capital and micro savings facilities for young entrepreneurs in Puntland and beyond.
Kaah Islamic Microfinance Services
Silatech, Kaah Express and the American Refugee Committee have partnered to launch Kaah Islamic Microfinance Services, a a youth-focused microfinance institution which will leverage the existing Kaah Express networks and agents in urban and rural areas. Silatech provides technical assistance.
Somaliland Youth Enterprise Fund (SYEF)
Silatech and the microfinance arm of Doses of Hope (DOH), Kaaba Microfinance Institution (K-MFI), and AFF/Shuraako (non-profit operating foundation) and Kiva have established a revolving fund in order to create sustainable and resilient self-employment opportunities directly targeting youth-run small businesses in Somaliland.
Microfinance Technical Assistance Project—all of Somalia
Silatech has entered into a partnership with Dahabshiil (a leading African money services business) to support the company’s spin-off microfinance institution, with the objective of promoting Somali youth enterprise development and providing employment solutions throughout Somalia.
Somali Youth Employment and Entrepreneurship Program (SYEEP)
Silatech, Shaqodoon and the American Refugee Committee have partnered to create SYEEP, the primary component of which is the establishment of specially-designed “One Stop Shop” (OSS) centers for youth employment and business support services.