Saturday   18 Oct 2025 {HMC} As the Annual Meetings of the International Monetary Fund (IMF) and the World Bank draw to a close, Somalia’s Minister of Finance, Hon. Bihi Iman Egeh, participated in a key plenary session chaired by IMF Managing Director Kristalina Georgieva. The session brought together Finance Ministers from across the African continent.

During the joint meeting, Minister Egeh delivered a brief address that focused specifically on the profound impact of climate change on the African continent’s economy and discussed potential solutions to mitigate its devastating effects.

In addition to the plenary, the Minister and his delegation held bilateral meetings with key international partners:

• United Kingdom Delegation: Minister Egeh held a productive meeting with the UK delegation, where discussions centered on investment opportunities and strategies for recovering from the economic damage caused by climate change in Somalia.
• Arab Monetary Fund (AMF): The Minister also held a constructive sideline meeting with the Director-General of the Arab Monetary Fund, Fahad Al-Turki. This discussion focused on ongoing economic reform, future investment plans, and development strategies. The AMF has been acknowledged for its important role in supporting Somalia’s financial reform process.

The Minister’s participation in these final high-level meetings confirms Somalia’s commitment to prioritizing both domestic financial reform and securing international support to address the critical economic threat posed by climate change.

Source sonna

Saturday   18 Oct 2025 {HMC}  The Minister of Labour and Social Affairs of the Federal Republic of Somalia, Yusuf Mohamed, held a sideline meeting today with the Minister of Labour and Social Security of the Republic of Turkey, Prof. Dr. Vedat Işıkhan, in Doha, Qatar.

The central focus of their discussion was the finalization and implementation of a bilateral cooperation agreement previously reached between the two ministries. The agreement, which the Somali Council of Ministers approved in July 2025, is a major initiative aimed at boosting job creation, employment opportunities, and workforce capacity development in Somalia. The official signing of the agreement is scheduled to take place soon in Turkey.

The two ministers also agreed to organize specialized training programs for Somali personnel, particularly staff from the Ministry of Labour and Social Affairs. These programs are designed to leverage Turkish expertise and knowledge in enhancing Somalia’s workforce capacity and improving social welfare administration.

Minister Yusuf Mohamed expressed his sincere gratitude to Minister Işıkhan for the warm reception and emphasized Turkey’s commitment to strengthening the cooperation and brotherly ties between Somalia and Turkey.

Source sonna

Saturday   18 Oct 2025 {HMC}  Somalia’s Minister of Trade and Industries, Mahmoud Ahmed Adan (Geesood), met with Turkey’s Minister of Trade, Prof. Ömer Bolat, during the Turkey-Africa Trade and Economic Forum held in Istanbul yesterday.

The bilateral meeting focused on enhancing historic economic and trade cooperation between Somalia and Turkey and expanding investment opportunities in both countries.

The ministers specifically discussed ways to access Turkish markets for Somali products, including fish, minerals, and natural goods, aiming to boost Somalia’s economy and promote private sector trade.

Source sonna

Saturday   18 Oct 2025 {HMC} Somalia’s Minister of Defense, Ahmed Macallin Fiqi, is on an official visit to Italy, where he met with his Italian counterpart, Guido Crosetto, in Rome.

The meeting focused on enhancing bilateral cooperation in defense, maritime security, capacity building, financing the AUSSOM operation, and counter-terrorism. Both ministers agreed to accelerate joint projects under Italy’s Mattei Plan.

They also underscored the historic ties and close collaboration between Somalia and Italy, emphasizing the importance of continued efforts to ensure peace and stability in the region.

Source sonna

Saturday 18 Oct 2025 {HMC} Somalia is rapidly benefiting from the changing global livestock markets, with the country’s livestock exports reaching a historic high, expected to exceed $1 billion by 2025, according to new data from the Ministry of Livestock.

According to the Director of the Ministry’s Animal Health Department, Qasim Abdi Moallim, the growth in Somalia’s livestock exports is largely due to two strategic factors: the ongoing crisis in Sudan and the decline in livestock exports to Australia.

“Sudan, which was once a major livestock exporter, is now facing civil war. On the other hand, Australia, which was a major supplier of livestock to the Gulf countries, has gradually reduced its exports. Both of these factors have opened up new markets and economic opportunities for us,” said Qasim Abdi Moallim.

He added that Somalia has good access to key markets such as Saudi Arabia and the United Arab Emirates, which has made it easier to quickly deliver livestock and meet market demand.

Government data shows that Somalia exported livestock worth $974 million in 2024, compared to $523 million in 2021. 2025 is expected to be the highest year in terms of livestock export earnings.

Between 2021 and 2024, Somalia exported livestock worth $2.9 billion, demonstrating how important livestock is to the country’s economy and can continue to be the backbone of economic development and job creation in the country.