Somalia Launches Its First Stock Exchange in Mogadishu

MOGADISHU, Somalia – Somalia has officially launched its first-ever stock exchange in the capital, Mogadishu, marking a significant milestone in the country's economic development and efforts to attract both local and international investment.

The launch event brought together top government officials, business leaders, and representatives from the financial sector. Among the attendees were Mahmoud Abdikarin Gabeyre, chairman of the Somali Chamber of Commerce; Mohamed Abdullahi Farah, deputy minister of Energy and Water Resources; federal lawmakers; SOMINVEST Director Mohamed Dubo; executives from telecommunications companies; and members of the Somali Bankers Association.

The ceremony also welcomed international guests, including Pierre Celestin Rwabukumba, CEO of the Rwanda Stock Exchange and chairman of the African Securities Exchanges Association (ASEA), and Frank Mwiti, CEO of the Nairobi Securities Exchange.

Yasin Mahmoud Cibaar, chairman of the Somali Stock Exchange, emphasized the significance of the launch, stating that the new platform will provide Somali businesses with access to much-needed capital to expand operations. He added that it will also offer ordinary Somalis an opportunity to invest in both local and international companies, no matter where they are in the world.

“This stock exchange creates a formal and regulated environment for investment,” Cibaar said. “It’s a turning point for Somalia’s private sector and a critical step toward economic stability and inclusive growth.”

The exchange is also expected to attract foreign companies seeking to register and raise capital from Somali investors, further integrating the country's economy with global markets.

The launch signals a new era for Somalia, as the nation positions itself to participate more fully in the economic transformation underway across the Horn of Africa and the broader continent.

GAROWE ONLINE