Turkish Ziraat bank to open branch in Mogadishu

GOOBJOOG NEWS | MOGADISHU: Turkish financial institution Ziraat has announced plans to open a branch in Mogadishu, a move seen as an avenue to facilitate trade and cooperation between the two countries.

On Thursday, Federal Government of Somalia president Hassan Sheikh Mohamud received a delegation of businessmen and officials from the Turkish Bank who expressed interest in investing in Somalia.

President Mohamud briefed the investors in the numerous investment opportunities available in Somalia and promised the government’s commitment to enable a favorable environment for the investors so as to spur economic growth and development in the country.

The president emphasized the importance of the long standing friendship between the two countries and thanked Turkey for its continued support for the various development projects in Somalia.

The opening of Ziraat bank’s branch in Mogadishu is seen as a gateway for more transactions between Turkish and Somali businesses which will foster bilateral trade between the two nations and promote economic stability and empower local entrepreneurs.

Turkish investments in Somalia have been increasing steadily in recent years, encompassing various sectors such as infrastructure, education, healthcare, and energy.