Feasibility of Setting Up a Personal Credit Institution in Somalia

DOI

10.2991/assehr.k.211209.029How to use a DOI?

Keywords

Social Context; Marketing Strategy; Advertising; Corporation; Target Client Group

Abstract

The common perceive about Somalia is usually that the poorest country around the world, and no economic activity can take place here. However, its situation provides a nice prerequisite for personal credit institution. This paper analyzes the potentials and underlying challenges of this idea, like high unemployment rate and unequal social positions for different groups which are advantageous for creating these institutions; while there are other development obstacles as well, for example, the restrictions of Islamism that institutions cannot charge interest, and undeveloped credit system which lead a big issue that credit company cannot measure their repaying ability. In order to seek for solution of these problems above, in this work, the SWOT and PEST models are used to analyze the advantages and disadvantages, finally yield the strategies and draw conclusion that setting up a personal credit institution in Somalia is feasible. This sort of data, analyses and research results can not only help worldwide investors find new direction with new opportunities, but also encourage the local entrepreneurs to explore and develop a whole new market which is more likely to be successful.

Copyright

© 2021 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Xiyao Kang
PY  - 2021
DA  - 2021/12/15
TI  - Feasibility of Setting Up a Personal Credit Institution in Somalia
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 182
EP  - 185
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.029
DO  - 10.2991/assehr.k.211209.029
ID  - Kang2021
ER  -