Somali and other East African refugees and immigrants, having left nations with agrarian subsistence economies and high illiteracy, experience higher rates of poverty based on the lack of financial literacy. The East African refugee population in San Diego is mainly comprised of large families, often with 6-13 children, some with female head of households. Often the households include extended family members: nieces, nephews, cousins, etc. Most of these families reside in the City Heights area and are on public assistance.
To tackle the language and cultural barriers as well as the challenge of getting to know a completely new financial system upon moving to the U.S., SFS created an educational program specific to its population. We help the San Diego East African community achieve self-sufficiency through a number of successful projects addressing economic development, including microenterprise and employment services.
Currently, our economic development program focuses on financial literacy and targeting underserved populations by educating people about banking, money management, savings, financial planning, and credit. We work with other institutions and community partners to reach out to residents, with a special focus on youth. SFS also improves access to affordable housing among Somalis in the central region of San Diego County.
Future plans include outreach and expanding the program to assist more people and small businesses with development, bookkeeping, marketing, how to access capital, and more.
