On this date Bushra Business Bank had the opportunity to get an invitation from GAALOOGE farming and livestock cooperative to participate their opening branch in Mogadishu.
Once the function began MR. GULEED the C.E.O. of the company had given a little bit of history on how it the Gaalooge industry
GAALOOGE AGRO BUSINESS ENTERPRISE MOGADISHU BRANCH
started and the impact that it had made to farmers since they came into operation.
farmers in Somalia are set to access reliable new machinery, as well as service and parts support from the high-quality machines from CASE Company.
This follows a trailblazing import and distribution agreement inked between CNH Industrial with Gaalooge Farming & Livestock Cooperative.
The Gaalooge-Case IH partnership was initiated at the Italy-Somalia Business Forum in Mogadishu in December 2019 where negotiations were supported by teams of experts from the Enterprise Development Units in Somalia and the United Nations Industrial Development Organization (UNIDO) Somalia Programme.
Gaalooge is based in Baidoa, Somalia and is registered as a cooperative under the local Ministries of Commerce and Agriculture. Owned by a group of Somali farmers, it is a dedicated Agro-business enterprise actively involved in the production and distribution of a variety of agricultural inputs and farm machinery throughout the country.
On the economic growth
Somalia has considerable productive resources, which offer huge potential for delivering rapid economic growth, with important impacts on people’s livelihoods. These resources include million of hectares of arable land, and millions of livestock not forgetting the millions of tons of fish annually for export. However, only some few percentages of hectares are
under rain fed agriculture. Somalia is rich of resources but luck of exploring our lands made it impossible to reach its target.
With the agricultural sector renowned for being one of the best drivers to improve livelihoods and to take national economies forward quickly and effectively, this new idea of introducing new machines to the farmers represents a key step in rebuilding the country of Somalia agricultural milestone.
The Bb Bank team delivered their speech assuring that we will work with GAALOOGE cooperative closely and give investment to the farmers who need to have the machines in order to improve their infertile land
BUSHRA BUSINESS BANK is ready to provide specific financing facility targeted for young entrepreneur in agriculture sector in order to produce progressive, competitive, creative, and innovative and highly income Young Agropreneur.
BB Bank has again promised to open an agro technology finance for economic growth in the country to specifically partner with GAALOOGE TRACKTORES and other AGRO BUSINESS companies .
The expected outcome between GAALOOGE AND BB BANK will be as follows;
a. Improvement in farming practices b. Increased agricultural productivity c. Increased incomes d. better living standards e. Increased value addition activities including processing or manufacturing businesses f. Increased employment particularly of the youth and women and other disadvantaged groups