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Service Agreement Between Probakaal Consultancy Services and Himilo Microfinance Institute
Probakaal Consultancy Services is conducting a comprehensive impact assessment of the microfinance initiatives provided by Himilo Microfinance Institute, focusing on financial inclusion and economic empowerment.
Probakaal Consultancy Services has formalized a service agreement with Himilo Microfinance Institute, marking another milestone in our ongoing commitment to strengthening financial inclusion across the Horn of Africa.
Context and Background
Himilo Microfinance Institute serves thousands of micro-entrepreneurs and small businesses, providing financial services that enable economic participation for communities underserved by traditional banking. Strengthening institutional capacity is essential for expanding their reach and impact.
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Financial Inclusion
Less than 15% of adults in Somalia have access to formal financial services. Microfinance institutions like Himilo play a critical role in filling this gap and enabling economic empowerment.
Scope of Consulting Services
Under this agreement, Probakaal will deliver targeted consulting support including:
• Institutional capacity assessment and organizational development
• Financial systems strengthening and internal controls
• Product innovation and client-centered design
• Regulatory compliance and governance enhancement
• Digital transformation and mobile banking strategy
Digital Innovation
A key focus of this engagement is supporting Himilo's digital transformation journey. By adopting mobile-first approaches and digital lending platforms, the institute can dramatically expand its reach while reducing operational costs.
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Mobile-First Strategy
In markets where mobile phone penetration far exceeds bank account ownership, mobile financial services represent the fastest path to financial inclusion.
This partnership demonstrates Probakaal's strategic focus on financial sector development as a driver of inclusive economic growth across the region.
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