By Zamzam Daqare. - Reporter
Mogadishu, 19 September 2026 - President Hassan Sheikh Mohamud said Saturday that Somalia has identified important mineral resources, including uranium, lithium and cobalt, which he described as part of the country's natural wealth.
Mohamud made the remarks while opening the Somalia Development Finance Forum, which focused on economic growth, attracting investment and strengthening the country's sources of revenue.
He said Somalia has a wide range of resources, including underground minerals as well as fisheries, livestock and agriculture, but requires expertise, investment and international cooperation to fully benefit from them.
"Today, the world is highly interested in minerals, the so-called rare earth minerals. Whether it is uranium, lithium, cobalt and many others that the world is currently seeking, it has been confirmed that they exist in Somalia," the president said.
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He said the government is focused on creating an environment that encourages Somali and international investors to return, noting that investor confidence requires stability, clear laws and strong institutions.
Mohamud added that Somalia needs to move from an economy dependent on imports toward one based on production and exports, through developing industries, infrastructure and systems that facilitate trade.
The Somalia Development Finance Forum presented government plans aimed at expanding economic growth, increasing investment and building the foundations for long-term economic development.