Frankfurt, SONNA – President Hassan Sheikh Mohamud of Somalia played a pivotal role in the German-African Investment Conference, held in Frankfurt, as he showcased the myriad of investment opportunities available in Somalia. The President emphasized the Federal Government’s efforts to foster development and stability, emphasizing the nation’s commitment to economic transformation and the creation of a conducive environment for investors.
In his address, President Mohamud stressed the critical importance of international cooperation as a cornerstone for economic growth, job creation, climate change mitigation, and combating insecurity. He praised the forum for its focus on establishing systems that attract and secure investments, which are vital for Somalia’s ongoing development.
Highlighting Somalia’s recent achievements, President Mohamud noted the successful implementation of economic transformation plans and the establishment of robust legal frameworks designed to protect investors. He emphasized the crucial role of the private sector in driving economic growth and invited international investors to explore opportunities in Somalia, lauding the entrepreneurial spirit and creativity of the Somali people.
Accompanied by Mr. Mohamud Abdirahman, the Minister of Planning and Investment, President Mohamud emphasized that Somalia is open for business and eager to engage with global partners.
The forum, sponsored by the German-African Business Association (Afrika-Verein), brought together German private sector representatives and delegations from various African nations. President Hassan Sheikh Mohamud was the guest of honor, highlighting Somalia’s prominence at the event.
In his opening remarks, Afrika-Verein’s CEO Christoph Kannengiesser emphasized the importance of strengthening Germany-Africa relations to achieve shared prosperity. He expressed hope that German companies would seize opportunities to become key partners in African economies, recognizing the continent’s significant growth potential and the necessity for collaborative solutions in sectors such as infrastructure, agri-food, renewable energy, and industry.
Kannengiesser also pointed out the impressive economic performance of several African nations, which have outpaced the growth of developed countries. He stressed the need for closer cooperation to address common challenges and leverage Africa’s vast potential.
President Mohamud underscored the importance of Germany-Africa partnerships for economic growth, focusing on knowledge transfer and climate change mitigation. He called for enhanced investor confidence and a new approach to investment in Africa, urging for “bold investments” to capitalize on the continent’s competitive advantages, including its abundant natural resources and youthful population.
The forum, themed “Creating the Ideal Framework to Unlock Trade and Investment Opportunities in Africa,” aimed to identify regulatory frameworks to boost German business presence in Africa, explore financing and risk mitigation options, and promote startups. It also addressed measures to accelerate regional integration and clarified the roles of businesses and public partners in this process.
Afrika-Verein, an organization dedicated to promoting economic ties between Germany and African countries, boasts over 550 members, predominantly German companies and institutions. These members represent about 85% of German business activity in Africa, ranging from startups to major DAX-listed corporations.
The Africa Trade & Invest Forum highlighted the shared commitment to fostering economic growth and development through strategic partnerships and innovative investments, marking a significant step forward in the collaboration between Germany and Africa. President Mohamud’s participation pointed to Somalia’s readiness to engage with global investors and seize opportunities for sustainable development.
