On the 19th Dec. 2023, a meeting between the Somali Chamber (Deputy President Mr Abdirahman Galaanbi, and Deputy Director General Prof Ciise M Xalane), the Ministry of Finance (State Minister and Director General) and a delegation from the World Bank (Dr Floribert Nagaruko Executive Director for a group of 22 African countries) was held at Decale Hotel.
During the meeting, Prof Ciise emphasised that the investment outlook of the SCCI on Somalia and the World Banks’ view as per the World Banks’ Somalia System Country Diagnostic (SCD) document concur and align closely, and so he suggested a second meeting. Prof. XALANE also pointed out the reinvigoration of the Public Private Dialogue and the Public Private Partnership initiatives will lead to an increase in investments.
Furthermore, he shared with the Executive Director the Chambers’ efforts to encourage the establishment of a new class of businesses out of the informal sector of the economy capable of engaging in modern business practises such as the taking and repayment of loans through the training received by entrepreneurs through the EDU programme.