Mogadishu, May 11, 2024 – The Minister of Foreign Affairs and International Cooperation, H.E Ahmed Moallim Fiqi, highlighted during his speech at the Somali Diaspora Investment Forum in Mogadishu on Saturday, in the presence of government officials and diaspora investors, that the remittance sent by the diaspora is a lifeline for many families and a backbone for reviving the Somali economy.
Expressing gratitude to the International Bank of Somalia (IBS) for sponsoring the event and collaborating with the Ministry’s Diaspora Affairs Department, Minister Fiqi emphasized the imperative of harnessing diaspora expertise and investments to propel Somalia towards development and prosperity. He assured that the Federal Government of Somalia is committed to providing ample investment opportunities and ensuring security for diaspora investors.
Highlighting the economic impact of remittance flows from the diaspora, Minister Fiqi noted their substantial contribution to the nation’s economic vitality and applauded their positive portrayal of Somalia through their exemplary conduct.
During his speech at the Somali Diaspora Investment Forum, Mr. Abdirizak Ali Warsame, Vice Chairman of the Board at IBS Bank, stressed that IBS Bank is ready to encourage the diaspora to return to the country and invest in it, revealing that the Somali diaspora has a distinguished role in many investments carried out in Dubai, the United Arab Emirates, Turkish cities, and also the Kenyan capital, Nairobi, noting the importance of their focus in investing in their country, and that his bank is ready to realize their successful investment dream.
