Somalia a country with a potential to become a fast-growing economy has been a victim of the long-standing civil war halting operations for progress in various sectors. One of the underlying problems which is water scarcity has exposed citizens to countless preventable diseases with Mogadishu at the centre of this ordeal. Resident requires affordable means to obtain safe drinking water that doesn’t cause water-borne diseases. Team Chawa's solution Q-Portal is built on the foundation of financial inclusion.
Q-Portal is a new fintech that will enable crowdfunding platform made for impact investing projects that have a positive social and environmental impact for Somalia. Remittance from Somalia diaspora accounts for 23% of their Gross National Product and will be leveraged on to create investment schemes in the form of Foreign Direct Investment. This will serve as a catalyst for private limited water utility companies to initiate sustainable solution with existing water technologies to provide access to clean drinking water.
Somalia’s unstable political climate has jeopardized the government’s ability to govern which shift its focus on peace and stability whilst the private water utility companies in Mogadishu are currently managing the water supply. One of the leading cause of water contamination and scarcity is due to the decay of water infrastructure has compromised the quality of tap water to end-users. Currently, as a result of the political instability investors are not willing and ready to invest in infrastructure and other business opportunities in the country in order to foster economic growth and development.
Somalia’s modern history is a tale of independence, prosperity and democracy in the 1960s, military dictatorship in the 1970s and 1980s – followed by a desperate decline into civil war and chaos in the 1990s led to the unwanted foreign intervention. This has led to the destruction of the infrastructure, loss of lives and economy. Although 95% of residents of Mogadishu have access to the tap water, the three existing water utility companies have not been able to provide safe drinking water to the citizens. Due to the consumption of unsafe water, there is an increase in the number of deaths of the children (<5years) from water-borne diseases. About 75% of cases of highly infectious acute watery diarrhoea among children under the age of five. There have been frequent outbreaks of waterborne diseases like cholera in Somalia. As a result of the rapid influx of the displaced people in Mogadishu with many livings in overcrowded settlements, there is now an acute shortage of safe water and adequate sanitation.
Somalian diaspora investors and other non-Somalian investors will invest and these funds will be channelled to match the investment requirement of private water utility companies to ultimately meet the direct needs of the end-user. This would be used to upgrade water treatment plants, facilities to extract groundwater, set up of decentralised water banks, improved filtration methods and construction of District Meter Areas to increase water flow and supply. Once established, the ecosystem will help provide clean drinking water directly the tap to thousands of household.
Q-Portal is a new fintech that will enable crowdfunding platform made for impact investing projects that have a positive social and environmental impact for Somalia. It allows Somalians that live abroad to invest in projects that they actually care about in the form of moral obligation at no cost and earn a return on their investment. At launch, Q-Portal is only backing one project, so private water utility companies will dedicate to renovating and rebuilding water infrastructure in order to ensure clean drinking water accessibility.
The main impact is to provide safe drinking water to one-quarter of the country’s total population living in Mogadishu (2.5 million people). Q-Portal creates an enabling environment to attract investment in the water sector of Somalia by patriotic Somalian citizens living abroad and other potential foreign direct investors. Our aim is to achieve multiple Sustainable Development Goals and create a sense of ownership of the infrastructural development by the citizens. It will go a long way to formalize the private sector, foster economic regeneration, regulatory and legal environment and increase stability. It will enhance the emergence of Somalian diaspora groups towards promoting micro, small and medium enterprise growth and private sector development.
Draft detailed business proposal. Stakeholder engagement with the Private Water Utility Companies in Mogashidu to understand the scope of their operations to enable us to undertake an in-depth feasibility study and refine our pilot concept in Mogadishu. Funding is required to undertake this engagement.
Seed funding opportunities, Pro-bono Financial Experts who are willing and ready to help roll out this project and mentors to assist in finding other potential investment opportunities.