Today, a special ceremony was held in Mogadishu to officially launch the Somali Stock Exchange. The event was attended by distinguished guests from within Somalia and neighboring countries, including Members of Parliament, Deputy Ministers, Directors-General, the Chairman of the African Securities Exchanges Association (ASEA) and CEO of the Rwanda Stock Exchange, Mr. Celestin Rwabukumba, the CEO of the Nairobi Securities Exchange, Mr. Frank Mwiti, and a delegation of businesspeople led by the Chairman of the Somali Chamber of Commerce and Industry, Mr. Mahmoud Abdi Ali “Gabayre.”
All of the dignitaries who spoke at the event warmly welcomed the establishment of the Somali Stock Exchange, emphasizing its importance and the opportunities it brings for Somalia’s economy at this time. The Chairman of the Somali Stock Exchange (NSES), Mr. Yasin M. Ibar, who officially launched the event, spoke first about the purpose behind establishing the exchange and the benefits it offers to Somali businesses and the national economy as a whole.
The CEO of Hormuud Telecom, Mr. Ahmed Mohamed Yusuf “Ahmed Saadi,” also welcomed the launch, stating:
“The Somali Stock Exchange marks the beginning of a new era. It’s a step towards future accountability, proper utilization of resources, and a symbol that will benefit Somali businesses as well as the wider region.”
Finally, the Chairman of the Somali Chamber of Commerce and Industry, Mr. Mahmoud Abdi Ali “Gabayre,” expressed his congratulations and said:
“The Somali Stock Exchange will attract significant investment into the country, particularly from the Somali diaspora and foreign investors.”
DHAMMAAD
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