Somalia is slowly but surely undergoing a unique and positive transformation. Investing in Somalia could help reduce the country’s insecurity in the long term that is exploring the country’s potential will provide employment opportunities and consequently keep youths busy in the country
This is an opportunity for the world to join because Somalia will definitely become an economic powerhouse in less than 10 years
To enable investors to invest in infrastructure this will make a significant and lasting difference to the lives of people in the Horn of Africa region.
Somali Economic Forum Investment Team (SEFIT) will help to construct projects towards that investment. The SEFIT will also put in touch with the ministries, local authorities, government agencies and other public agencies responsible for assisting investors.
Factors for investing in Somalia
Improved Political stability
Through, the takeover by the Supreme Islamic Council of Somalia from warlords. The country has become a more secure and peaceful place to conduct business. Foreign investors move around in Somalia without armed gunmen.
After two decades of civil war, security and stability in Somalia is improving. One place in particular Mogadishu, the capital city of Somalia where the sound of daily gunfire has been replaced by the noise of construction
Re opening of ports and airports
The opening the port and the airport in Somalia is an important step in the direction of international trade and business hence investment
Simatech Shipping one of the largest feeder service companies in the Gulf, the Indian Sub-Continent, Far East and East Africa started providing shipping services at Mogadishu Port in Somalia.
Investment challenges in Somalia
- Poor infrastructures
- Lack of awareness about the investment opportunities in the country
- No investment authority in the country
- Lack of investment policy