By Asha Elmi - -
Mogadishu, 25 August 2026 Somalia on Monday urged East African investors to invest in the country as officials and business leaders discussed using its East African Community membership.
"We want to take advantage of that broad market, bring Somali products to it and attract investment into the resources that God has blessed our country with," Somali Chamber of Commerce and Industry chairman Yasin Mohamud Ibar said at a trade roundtable in Mogadishu organized with the East African Business Council.
The EAC has more than 331 million people and a $357 billion economy, according to the bloc.
Ibar said opportunities included fisheries and the blue economy, livestock, agriculture, logistics, telecommunications and renewable energy, and called for investment in domestic manufacturing so raw materials could be processed locally before export.
Somalia joined the EAC in 2024 as its eighth member, gaining market access but also facing requirements for trade integration and movement of goods and people.
Related articles
Commerce Minister Gamal Mohamed Hassan said membership should go beyond formal participation and generate practical trade and investment, adding Somalia's location on the Gulf of Aden and Indian Ocean could connect East African markets with the Gulf and Asia.
Officials also called for easier movement of people and goods, simpler cross-border procedures and more efficient payment systems within the EAC.
Ibar said greater investment could create jobs and reduce poverty. Somalia's nominal GDP was about $13 billion in 2025, with per capita income about $661, according to the World Bank, which said growth slowed to about 3% in 2025 from 4.1% in 2024 and projected 2.8% for 2026.
"Economic transformation is the only way Somalia can achieve progress," Ibar said.