U.S.A, 18 October 2025 — Somalia’s Minister of Finance, Bixi Iman Egeh, has urged global financial institutions and development partners to prioritize long-term investment and job creation over traditional aid models.
Speaking during the 2025 Annual Meetings of the World Bank and the International Monetary Fund (IMF), Minister Biixi said the global economic landscape is rapidly changing, with donor countries increasingly shifting from direct aid to investment-based partnerships. He emphasized that for African countries — particularly Somalia — the shift presents both a challenge and an opportunity to strengthen local economies through sustainable investment.
“The world is changing; donor nations are focusing less on aid and more on investment. Africa must prepare the legal and economic environment that attracts investors and creates jobs,” said Minister Biixi.
He noted that Somalia’s participation in the meetings focused on fostering a conducive environment for private sector growth, enhancing job creation, and improving financial reforms to build confidence in the country’s economy.
The minister also chaired a high-level session of the Horn of Africa Initiative, a platform that brings together countries in the region to discuss infrastructure, trade, and investment cooperation. The discussions centered on improving trade connectivity, encouraging youth employment, and expanding regional access to finance.
Minister Biixi added that Somalia is advancing its financial reforms through closer engagement with the World Bank, IMF, and regional partners to strengthen the country’s banking systems, regulate mobile money, and facilitate remittance flows through formal channels.
“We are working to ensure Somalia is fully integrated into the global financial system, just like any other country,” he said. “Our reforms are designed to build a strong foundation for sustainable growth.”
The World Bank and IMF meetings this year placed a strong emphasis on youth employment, private investment, and the creation of new economic opportunities for developing nations. Somalia’s active participation highlighted its ongoing commitment to reform, modernization, and economic inclusion.
