New Joint Initiative Aims to Create Jobs and Strengthen Somalia’s Business Sector

GOOBJOOG NEWS | MOGADISHU: The Federal Government of Somalia has launched a new economic initiative aimed at boosting youth employment, strengthening small businesses and improving the digital economy, in a partnership involving the government, the United Nations Development Programme (UNDP) and private sector companies.

Second Deputy Prime Minister Jibril Abdirashid Haji Abdi attended the signing ceremony of the Somalia Economic and Social Acceleration Project in Mogadishu, saying the programme reflects growing cooperation between state institutions and local businesses.

“This is a practical example of government, private sector and international partners working behind a shared development vision,” he said, adding that the DanQaran administration is pushing reforms to make Somalia a more attractive place to invest and build enterprises.

The programme will provide digital and vocational training to more than 1,000 young Somalis and offer direct support to 500 small and medium-sized enterprises, including women- and youth-led businesses. It also aims to improve the regulatory environment for trade, investment and entrepreneurship.

Somalia has been trying to expand economic opportunities and formalise business activity as it works to stabilise the country and attract foreign investment after decades of conflict.