The Africa Jobs Fund (AJF) and the Somali Development and Reconstruction Bank (SDRB) have launched the 2026 Somalia Business Plan Competition, offering a $20,000 prize to an entrepreneur proposing an export-oriented business connected to Somalia.

The initiative seeks to support businesses that process local resources, reach international markets and generate employment across Somalia and its regions.

Applications are open to entrepreneurs with established companies, early-stage ventures or well-researched business ideas. Applicants do not need to demonstrate previous business traction to qualify.

Beyond the main prize, the competition offers potential funding opportunities for businesses that demonstrate strong commercial prospects. Promising projects may be considered for pilot investments of up to $100,000 to test their business models. Ventures that successfully validate their models could subsequently access a pathway to as much as $1 million in further investment.

However, the pilot and scale-up investments are not guaranteed grants. Access to these opportunities will depend on further assessment and the performance of the businesses concerned.

The organisers are prioritising productive ventures with credible export potential. Eligible sectors include agriculture and agro-processing, particularly sesame, honey and bananas; livestock and meat processing, including cold-chain services and packaging; and fisheries, covering fish processing, cold storage and refrigerated logistics.

Other areas of interest include natural products such as frankincense, myrrh, gum arabic and camel milk, alongside light manufacturing, consumer goods and export support services. The latter category covers testing, certification, packaging, logistics and quality assurance.

Businesses outside these categories may also be considered if they can demonstrate a credible pathway to exports, job creation and higher incomes.

To qualify, applicants must have a connection to Somalia, be willing to work full-time on building and operating the proposed venture, and identify a productive business opportunity with export potential. They must also demonstrate their ability to execute the business plan, understand its key risks and explain how the venture could create jobs and economic value.

Somalis living abroad and members of the Somali diaspora are encouraged to participate. Applicants are not required to reside in Somalia, provided their proposed businesses are connected to the country and its regions.

Entrepreneurs applying for the competition must submit their personal and team details, explain their connection to Somalia and provide a concept note of no more than two pages. Curriculum vitae for the core founders or operating team and a one-minute introduction video are also required.

A pitch deck or detailed financial model is not compulsory. Applicants who already have a pitch deck may submit it in place of the concept note.

The application process involves reviewing the eligibility criteria and priority business sectors, preparing the required documents and completing the online form with accurate information about the proposed venture and its connection to Somalia.

Applications must be submitted by November 6, 2026.

Interested entrepreneurs can apply through the official Africa Jobs Fund and SDRB Somalia Business Plan Competition page.

Submissions will be evaluated based on the strength of the business opportunity, the founders’ capacity to execute their plans, the potential to create jobs and increase incomes, and the credibility of the proposed approach. Shortlisted applicants may be invited to interviews or asked to provide additional information.

The competition is organised jointly by the Africa Jobs Fund and the Somali Development and Reconstruction Bank to identify and support entrepreneurs building productive, export-oriented businesses connected to Somalia.

SOURCE: MSME Africa Online.