Somali President Hassan Sheikh Mohamud stated that Somalia aims to attract investment from across Africa and the globe, noting that geopolitical shifts, economic uncertainty, and the impact of climate change are compelling Africa to strengthen cooperation and the coordination of its resources.
Speaking in the Egyptian city of El Alamein, the President emphasized the need for African nations to bolster their financial markets, domestic revenue systems, and private sector investment to overcome the economic challenges facing the continent.
The President highlighted the steps Somalia has taken regarding security, political reform, and the strengthening of government institutions, noting that the country’s economy has grown by between 3 and 4 percent annually over the past four years, despite security and climate-related challenges. He also highlighted the opportunities arising from Somalia’s accession to the East African Community, noting that membership has opened up a vast regional market for Somali businesspeople and established Somalia as a vital gateway connecting East Africa, the Gulf of Aden, the Arabian Peninsula, and the Indian Ocean.
Hassan Sheikh stated that Somalia possesses a coastline of approximately 3,400 kilometers, creating investment opportunities in ports, logistics, fisheries, agriculture, livestock, and energy. He also noted the growth of digital services and mobile money usage.
The President stated that relations between Somalia and Egypt have reached the level of a strategic partnership, following the elevation of bilateral ties between the two nations in January 2025. According to him, this partnership encompasses trade and investment, agriculture and livestock, fisheries, construction, transport, financial services, oil and gas, and renewable energy. “We want African investors to view Somalia not merely as a country recovering from hardships, but as an emerging market, a vital strategic location, and an economy still offering numerous investment opportunities,” said Hassan Sheikh.
Finally, the President called upon African businesspeople, Egyptian companies and financial institutions, and international investors to collaborate with Somalia on the next phase of economic development, stating that Africa’s economic future will depend on cooperation and projects jointly developed by the continent’s nations.
