The Foreign and Commonwealth Office and Department for International Development host Somali business event to highlight business potential of Somalia.
With growing investor confidence, improvements in security and promising signs of political progress, new opportunities for business are emerging across South Central Somalia, Puntland and Somaliland.
There are also opportunities for non-Somali investors who have not traditionally operated in the Somali market. The private sector will also have an increasingly important role in supporting recovery, reconstruction and development for the Somali people.
The Somali people have a long standing history of trade, and a tradition of enterprise and innovation. One of the achievements of this entrepreneurialism is that Somali businesses have thrived despite a challenging political and security environment.
To celebrate both the business success stories of recent years, and to highlight the business potential in Somalia, the day-long event aimed to:
- highlight the Somali business opportunities that are opening up
- connect Somali and non-Somali investors together
- showcase the best of Somali entrepreneurship and innovation
- explore barriers to business and how to overcome them
- celebrate the role of business in state development and social enterprise
The event was chaired by Minister for Africa Mark Simmonds, with keynote speeches by Secretary of State for International Development Justine Greening and HE Hassan Sheikh Mohamud, the President of Somalia. The event was also attended by the Somali Deputy Prime Minister and the Finance Minister.