African Firm Eyes Somalia’s Fisheries and Agriculture Sectors

GOOBJOOG NEWS | MOGADISHU: Somalia is looking to turn its largely untapped natural resources into new sources of investment, employment and economic growth, with fisheries, agriculture and livestock emerging as key sectors attracting interest from foreign investors.

Zain-al-Abdin Group Africa Limited is the latest company to explore opportunities in the country, as the government seeks to connect international capital with industries that could strengthen domestic production and expand exports.

A delegation led by the company’s chief executive, Dr. Ashraf Omran, is visiting Somalia to assess potential projects in the fisheries and blue economy, agriculture and livestock sectors.

The Somali Investment Authority is facilitating the visit, helping the company engage with government institutions and local businesses while identifying commercially viable projects.

Somalia is seeking to diversify an economy heavily dependent on livestock, agriculture, trade and remittances, while developing industries capable of generating more jobs and increasing export earnings.

With Africa’s longest mainland coastline, Somalia has significant potential to expand commercial fishing, seafood processing and related maritime businesses. However, much of the sector remains underdeveloped because of limited infrastructure, investment and modern processing facilities.

Agriculture and livestock also offer opportunities to strengthen food production, improve processing and create value-added industries, particularly in rural communities where farming and pastoralism support millions of livelihoods.

Unlocking these opportunities could help Somalia move beyond exporting mainly raw products towards developing local industries that generate greater economic value.

But attracting investment remains a challenge. Security concerns, inadequate transport and energy infrastructure, limited access to financing and gaps in regulatory capacity continue to affect the business environment.

Against this backdrop, the Somali Investment Authority is working to bridge the gap between potential investors and local opportunities by providing information, facilitating partnerships and helping assess proposed projects.

Its director general, Faysal Adan Hassan, met the visiting delegation in Mogadishu as part of efforts to encourage investment in sectors identified as important to the country’s long-term development.T

the significance of such engagement will depend on whether investor interest translates into viable projects, new businesses and employment opportunities. No investment agreements, financial commitments or implementation timelines have been announced following the discussions.

The visit nevertheless reflects the government’s wider push to attract international investment and position fisheries, agriculture and livestock as drivers of economic growth.