About RAAS MFI | Microfinance Institution in Somalia

Who We Are

A Legacy of Inclusion.

RAAS Microfinance Institution (RAAS MFI) is a limited liability company established in Somalia in 2019. RAAS MFI is listed by the Central Bank of Somalia as a licensed microfinance institution. It works to expand financial inclusion through Sharia-compliant financing for economically active individuals and businesses.

RAAS MFI leverages digital solutions to serve MSMEs and partners with various organizations to provide targeted financial services. RAAS MFI works with communities and partner organizations to deliver relevant financial services in Somalia.

14,000+ Clients

Served through our Somalia network

$12.70M Disbursed

Empowering local entrepreneurs

76% Women Clients

Ensuring deep social inclusion

Our History

Fostering Real Dreams.

RAAS Microfinance Institution (RAAS MFI) is a limited liability company incorporated in Somalia under the Companies Act. RAAS MFI is listed by the Central Bank of Somalia as a licensed microfinance institution.

RAAS MFI combines local market knowledge with digital service delivery to support Somali micro, small, and medium enterprises. We listen to clients and partners so financing remains relevant to real business needs.

Est. 2019
Incorporated under Somalia Companies Act

Licensed Microfinance Institution
Listed by the Central Bank of Somalia

Digital Service Delivery
Using technology to improve access and service

Our Mission

To grow, build and maximize the potential of the businesses of the low income and unbanked of Somalia through the provision of affordable, flexible, and customer-oriented financial services.

Our Vision

To be the most efficient microfinance institution in Somalia by being cashless, paperless, and data driven to offer the best value, most flexible, and most customer oriented financial services in the market.

Innovation

Develop new ideas to enable us to be the most efficient microfinance institution in Somalia, delivering innovative and competitive financial services by using the latest technology & data analytics.

Integrity

Do what is right, treat clients, partners, and each other with the utmost respect, and honesty and uphold the highest ethical standards.

Customer Focus

Delivering process-oriented and quality-driven services aligned with our customer needs.

Excellence

Strive to deliver first-class service through the best talent and continuous personal and professional development aiming to create value for our staff, clients, & shareholders.

Trust & Accountability

We trust those who are accountable to honor their commitments and keep their promises, as we keep our own to each other, our customers, and our shareholders.

Diversity & Inclusion

We believe that only through actively using our diversity do we maximize the potential of our ideas, talents, and culture.

RAAS MFI is building accessible, Sharia-compliant financial services for economically active people and businesses that remain underserved by traditional finance.

We plan to provide uncollateralized small loans to the poor whose needs are not being served by traditional commercial banks in the country to increase financial inclusion for the various pressing needs including consumption, income smoothing, or other emergencies. RAAS believes that access to capital is one of the core inputs required for economic development and poverty alleviation. From a broader perspective, RAAS recognizes that the poor like anyone require and use a variety of financial services for a variety of purposes. Hence, RAAS focuses on the “big picture”:

Broader Focus on Clients

Demand-Driven Models

Agent & Tech Expansion

The objectives of RAAS MFI are therefore not simply about providing financial services; it is also about helping to improve the quality of life of target communities. It has two bottom lines: one is financial, and the other is social. Thus, the objectives of our microfinance are:

01

Cheaper Credit Access

To ensure cheaper credit access to poor communities through an appropriate and innovative alternative financing system.

02

Financial Support for Production

To provide financial support to poor communities for them to produce goods and services.

03

Inclusion and Participation

To support the right of the financially excluded and marginalized to participate in income-earning activities and to facilitate their involvement in participatory decision making processes.

04

Equality & Income Generation

To increase households (savings and income generation) and to create opportunities for self-employment, thereby reducing poverty and establishing equality between men and women in society.

05

Competitive Market Rates

To create pressure on the microfinance market to reduce profit rates to make loans more affordable to poor clients.

06

Sustainable Microfinance Ecosystem

To reduce dependence on charity and grants at all levels and create a sustainable market-based microfinance ecosystem.

07

Socio-Economic Development

To contribute to the socio-economic development of urban and rural poor communities through providing financial support and services to the clients'-initiated income-generating projects, resulting in the improvement of their quality of life and enabling them to achieve social equity.

BOARD OF DIRECTORS

GENERAL MANAGER

SHARIAH ADVISORY

CHIEF OPERATING OFFICER

CHIEF OF RISK, COMPLIANCE
POLICY AND PROCEDURES

CREDIT

FINANCE

INFORMATION TECHNOLOGY

PRODUCT DEVELOPMENT
AND MARKETING

HUMAN RESOURCE

Regional Branches

Baidoa Branch

Mogadishu Branch (Madiina)

Mogadishu Branch (Xamarwayne)

Mogadishu Head Office

Mogadishu Branch (Suuq Bacaad)

Bossaso Branch

Kismayo Branch

Galkayo Branch

Beled Hawa Branch

Abduwak Branch

Beledweyne Branch

Las’anod Branch

Agencies

Doolow Agency

Afgooye Agency

Bardhere Agency

Barawe Agency

Goldogob Agency

Adaado Agency

Burtinle Agency

Fostering Financial Inclusion.