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Somalia seeks to invest in the COMESA region

Storyline:National News

Charge d’Affaires at the Embassy of Somalia in Lusaka, Mr Ahmed Abdirahman Sheikh Nur has revealed that his country is looking for areas to invest in within the COMESA region.

Mr Ahmed said this in Lusaka when he paid a courtesy call on Secretary General Ms Chileshe Kapwepwe at the COMESA Secretariat. The two-discussed regional integration and possible areas of investments that Somalia can venture into within the region.

Some of the areas of interest mentioned by Mr Ahmed are Livestock, Fisheries and Infrastructure development. He indicated that Somalia has over 50 million heads of cattle and therefore stands to contribute greatly to the leather sector in the region and beyond.

“As we get readmitted to the Common Market, we wish to invest in various sectors such as fisheries, Infrastructure and Livestock. With over 50 million animals in our country, we are sure we can help boost the livestock sector and help the leather sector,” He said.

In welcoming the diplomat, Secretary General Kapwepwe said she looks forward to Somalia fully completing the re-admission process to the Common Market. She said COMESA is read to provide a platform for Somalia to look for potential investment areas in the various sectors.

The Secretary-General indicated that supporting Somalia’s investment portfolios in the region will help spur job creation among the youths and women in the region especially that COMESA is supporting investments which are aligned to value addition to the raw materials.

“We look forward to the finalisation process of your readmission to the Common market which shall make you a full member and enjoy the benefits of belonging to the grouping,” Ms Kapwepwe said.

The Somalia Government will soon appoint a new ambassador to Zambia who will also be the Permanent Representative to COMESA.

Sources: ABC