Overview of daily sessions and streams
The first international investment conference in Somalia is a two-day event (to be held on 28-29 November, 2022) providing a critical assessment of Somalia’s economic progress and investment opportunities. During the two-day conference, the Somali government and Somali business representatives will promote and present major projects, investment and trade opportunities in Somalia with information on incentives and legal framework.
SIICO - AGENDA
8:00 – 9:00 , GMT+3
Registration and Badge Collection
9:20 – 11:15 , GMT+3
- John Bellish Executive Director, One Earth Foundation
- Yofi Grant, Chief Executive Officer of the Ghana Investment Promotion Centre
- Deepak Bagla MD & CEO, Invest India President, WAIPA
- Mrs. Nnenna Nwabufo, Director General, AfDB East Africa Regional Office
- Nail OLPAK, President, The Foreign Economic Relations Board of Türkiye (DEİK)
- Amena Arif, IFC Country Manager
- Tiina Intelmann, EU Ambassador to Somalia
- Amb Mehmet YILMAZ, Turkiye Ambassador to Somalia
- Larry André, U.S Ambassador to Somalia
- Adam ABDELMOULA, Deputy Special Representative of the Secretary-General, UN Resident Coordinator and Humanitarian Coordinator for Somalia
- Abdisalan Hadliye Omer, Former Minister of Foreign Affairs and Investment Promotion and Current Presidential Envoy for the East African Community
- Asad Yusuf Qanyare, Director General, Ministry of Planning, Investment and Economic Development, Somalia
- H.E Mohamud A. Sheikh Farah (Beenebeene), Minister of Planning, Investment and Economic Development, Somalia.
11:15 – 11:30 , GMT+3
Networking Coffee Break
11:30 – 12:00 , GMT+3
Special reports Launch
- Somalia Information Communication Technology (ICT) Sector Study Report
- Somalia Agribusiness and the Food Sector Study Report
- Somalia Smart Farmers Association
12:00 – 12:30 , GMT+3
Guest of Honour
12:30- 13:15 , GMT+3
Despite structural challenges and the COVID19 pandemic, Somalia’s economy has shown a measure of resilience, attributable to increased private sector activities, particularly in the transport, telecommunications, money transfer and business services sectors. The latest World Bank Somalia Economic Update, projects gross domestic product (GDP) growth to reach pre-COVID-19 levels of 3.2% in 2023, thanks largely to improved remittances and aid inflows. Considerable improvements in the country’s business environment, security and assets have increased investor and development partner confidence with more consistent economic and social management of the country.
This high-level session tackles Somalia’s new investment landscape and will provide delegates with an understanding of the country’s overall key opportunities and favorable business environment.
- The Multilateral Investment Guarantee Agency (MIGA) services to potential foreign investors in Somalia
- Somalia FDI climate reforms and milestones
13:15- 14:00 , GMT+3
14:00- 15:30 , GMT+3
Somalia’s growing economy is contingent on the continued development of its diversified energy resources. Still at an infant stage, the overall national energy deficit is a significant investment opportunity with a progressive enabling environment. With a continued climate action agenda, Somalia has one of the highest potentials for onshore wind power in Africa and one of the world’s highest rates of daily total solar radiation. This opportunity alongside a cost competitive infrastructure provides investors in the energy space with a rapid commercial gateway to succeeding in Somalia.
This high-level panel session in cooperation with private and public sector officials will provide delegates with an understanding of Somalia’s Energy framework, key opportunities in energy value chains, investment project opportunities, as well as some key governmental regulatory advancements in the priority sector.
- Keynote Opening: State of Energy Sector in Somalia by Jama Taqal Abbas, Minister of Energy and Water Resources of Somalia
- Energy Sector Presentation
- Panel Discussion: Energy transition, Major investment opportunities in the energy sector, renewable energy potential, current opportunities and challenges
- Keynote Closing: Somalia’s energy sector and achievements of SDGs By Khadija Mohamed Al-Makhzoumi, Minister of Environment & Climate Change
15:30- 17:00 , GMT+3
Somalia’s strategic position in the horn of Africa coupled with an ample coastline to facilitate international trade and investment remains highly untapped. The waters off Somalia are some of the richest fishing grounds with up to 2.4 million tons of fish have been caught by foreign fleets off Somali waters in the past three decades. While a significant contributor to GDP growth, Somalia’s infant fishery and maritime sector offers significant growth opportunities. The potential for private sector value chain development in Fisheries remains considerable, with potential spinoff and catalytic impacts on growth, jobs and revenues.
This high-level panel session in cooperation with private and public sector officials will provide delegates with an understanding of Somalia’s Fishery and Aquaculture opportunities, the different value chain integration potential, as well as the key enabling business environment and security regulations put in place by the Ministry of Fisheries.
- Keynote Opening: Somalia fishery sector—the hidden treasure by the Minister of Fisheries and Marine Resources, Ahmed Hassan Aden.
- Fisheries Sector Presentation
- Panel Discussion: Major investment opportunities in the blue economy, sea transport, tourism and hospitality, and potential for offshore wind turbine power generation.
9:00 – 9:30 , GMT+3
Registration and Badge Collection
10:15 – 11:45 , GMT+3
Somalia’s ICT & Technology sector is one of the fastest growing sectors in the economy, owing to rapid digitization across the public and private sector spheres. Somalia boasts cutting-edge technologies, expanding wireless solutions and some of the most cost-competitive rates in telecommunications in Africa. The sector now accounts for up to 11% of GDP (or around USD1M). The sector plays a significant role in rebuilding the Somali economy. Somalia’s large international diaspora has contributed to the growth of the ICT sector to further support international telecommunication services.
This panel session provides an overview of Somalia’s flourishing ICT opportunities, the key ICT & Technology infrastructure required to support the sector and the key enabling business environment advancements afforded by respective Ministries and government bodies.
- Keynote Opening: Information Communications Technology (ICT) sector investments, opportunities by the Minster of Communications and Technology Jama Hassan Khalif
- Remarks: ICT Sector developments, reforms and investment/financing gaps by Mr. Abdullahi Abdiaziz Mohamed, Director of National Communications Authority (NCA).
- ICT Sector Presentation
- Panel Discussion: ICT Sector investment opportunities, FDI trends, sector attractiveness, and key issues.
11:45 – 12:00 , GMT+3
Networking Coffee Break & B2B / G2B Meetings
12:00 – 13:30 , GMT+3
Somalia’s Banking & Financial sector is one of the emerging sectors of key priority to the country’s economic growth. According to the IMF, the commercial banks’ total assets and credit to the private sector were about 4.5 percent and 1.5 percent of GDP, respectively (2019 est.) To ramp up development, Somalia has set up a national payments system as part of plans to develop the financial industry which is currently reliant on money transfer businesses (a 2 billion annual transaction business). Some examples of the mixture services of hawala and banking are Dahabshiil Bank International (DBI), Salaam Bank and Amal Bank. On the other hand, Premier Bank and the International Bank of Somalia (IBS) are new financial institutions that only offer banking services.
This high-level panel session in cooperation with private and public sector officials will provide delegates with an understanding of Somalia’s emerging priority sector in finance and banking, the required infrastructure value chain opportunities and the key enabling business environment advancements afforded by respective Ministries and government bodies.
- Keynote Opening: Banking and Financial Sector Investment Opportunities by the Governor of the Central Bank of Somalia Mr. Abdirahman M. Abdullahi.
- Banking & Financial sector Presentation
- Panel Discussion: Financing gaps, innovative finance and ICT Sector developments, reforms and investment/financing gaps.
- Closing: Banking sector challenges, key sectors for growth and current investment portfolio outlook by Somalia Bankers Association.
13:30 – 14:30 , GMT+3
14:30 – 16:00 , GMT+3
At present, Somalia remains heavily dependent on food imports, however this dependence is beginning to weaken. The ‘first movers’ investing in Agribusiness opportunities in Somalia are finding the advantages of local food production, enabling the company to establish strong brand recognition as well as product/service loyalty before other entrants to the market.
This session looks at Somalia’s Agribusiness and Food Story, then dives into opportunities broadly as well as specific sub sectors such as; Agri inputs, R&D, Commercial Cereal Production, Horticulture, Oil crops, Agro-processing and more.
Case studies related to many of the sub-sectors highlight real life examples of agribusiness companies thriving in the Somali market.
This panel discusses such opportunities with local Agribusiness stakeholders, some of whom are businesses highlighted in case studies in the report. The discussion provides a dive into the practical Agribusiness opportunities in the market.
- Keynote Opening: Investing in Somalia’s Agribusiness for sustainable food security and opportunities for potential investors by the Minister of Agriculture and Irrigation HE Ahmed Madobe Nunow.
- Agribusiness Sector Presentation
- Panel discussion: Somalia’s Agriculture and Food Business as a priority sector for investment.
16:00 – 16:15 , GMT+3