Somalia Opens Business Innovation Summit to Drive Economic Growth and Empower SMEs

GOOBJOOG NEWS | MOGADISHU: Somalia’s Finance Minister Biixi Imaan Cige Tuesday launched the Fifth Somali Business Innovation Summit in Mogadishu, reaffirming the government’s commitment to economic reform, private sector development, and inclusive growth.

The summit brought together senior officials, business leaders, and entrepreneurs to explore strategies for advancing key sectors of the economy, including infrastructure, digital innovation, revenue generation, and small enterprise development.

The forum also placed strong emphasis on empowering Somali women in business, recognizing their role in rebuilding the nation’s economic fabric and supporting local markets.

Also in attendance were the Minister of Planning and Investment, Abdirahman Beene Beene; Minister of Education, Farah Sheikh Abdulkadir; Minister of Petroleum, Daahir Shire; and Chairman of the National Economic Council, Hassan Adan Hoosow, alongside several members of parliament.

The summit underscores the importance of aligning innovation and investment with Somalia’s National Transformation Plan and Vision 2060, while building a regulatory environment that supports small and medium-sized enterprises (SMEs), job creation, and sustainable development.

The event comes at a time of growing optimism over Somalia’s economic trajectory, following debt relief and improved fiscal credibility on the international stage.