Mogadishu hosts Somalia Development Finance Forum

Somalia's President Hassan Sheikh Mohamud on Saturday joined senior government officials, financial-sector leaders, private-sector representatives and development partners in Mogadishu for the Somalia Development Financing Forum, which sought to discuss how the Horn of Africa nation can mobilize and channel long-term finance toward sustainable economic development.

The Forum was convened by Somalia Development and Reconstruction Bank (SDRB) under the theme "Financing Somalia's Next Chapter: From Recovery to Sustainable Development." Discussions explored viable pathways that can propel Somalia beyond short-term reconstruction financing toward investment-led development, with greater use of domestic and international capital to support productive sectors, businesses and infrastructure.

"Today marks a historic moment.

A public development bank in Somalia making its first investment is a clear sign of the progress our country is making in rebuilding its institutions and advancing its economic development," President Mohamud said.

He further noted that Somalia's National Vision 2060 provides a long-term framework for economic expansion and sustainable development, highlighting the need for strategic investment in agriculture, livestock, fisheries, energy, infrastructure and businesses.

On his part, Salah Jama, the country's Deputy Prime Minister reflected on the need to build a stronger and more sustainable financing system.

"Somalia's transition is not about replacing aid with one new source of financing," he said.

"It is about building the institutions and financing system that will allow us to increasingly finance our own development." Minister of Finance Bihi Iman Egeh expanded the discussion to the importance of using public finance to unlock greater private investment for Somalia’s long-term development.

"We must use public finance strategically to unlock and leverage private investment.

Ultimately, the success of our National Transformation Plan, and our broader national strategies, will depend on how effectively every dollar of public finance mobilizes additional capital for the long-term growth of Somalia’s most critical sectors," he told the gathering.

Speaking at the Forum, SDRB President Hodan Osman spoke about the financing gap holding back the growth of Somali businesses and the Bank's role in addressing it.

"Somalia does not lack entrepreneurs or opportunity; what is missing is the patient, structured capital that can help successful businesses grow into larger companies and industries.

SDRB's role is to bridge that gap—working with government, development partners and commercial banks to prepare investments, share risk and expand long-term finance to Somalia's productive sectors," she said.