Amal Bank, a pioneering financial services company, introduced this week an investment fund for businesses in productive sectors. Launched at a ceremony held in Garowe, the administrative capital of Puntland State of Somalia, Tacab Kaal (meaning Productivity Assistance ) will invest in agriculture, livestock and related businesses.
The investment vehicle of Amal Bank will enable promising businesses in productive sectors to access capital to modernise their businesses through the adoption of technologies such as greenhouse technology, solar panel, modern irrigation systems, energy-efficient deep freezers for milk, meat and fish. Tacab Kaal will help businesses utilise renewable energy.
Amal Bank will introduce the first phase of Tacab Kaal in Mogadishu, Hargeysa, Kismayo, Bura’o, Qardho, Borama, Las Anod, Buuhoodle, Baydhabo, Beledweyn and Galka’yo.
© PUNTLAND POST