Mogadishu (AX) – Change is afoot in Somalia’s livestock sector, and it’s not just the grass that’s greener. On a bright Thursday morning, the Somali government teamed up with the World Bank under the HoA DRIVE Project to unveil the $10 million Livestock Value Chain Fund (LVCF). This initiative is set to steer the livestock industry onto a lucrative path of transformation.
Against the backdrop of the elegant Jazeera Palace in Mogadishu, Gargaara Company Limited hosted this momentous signing ceremony. It was more than just pomp and circumstance; it was a beacon of hope for pastoralists, livestock producers, and every link in the chain from processors to traders.
The true goal of the Livestock Value Chain Fund is to shift the paradigm. Instead of leaving private investment to tread cautiously in this sensitive sector, it aims to alleviate financial insecurities, ramp up local output, and coax the private sector out of the shadows and into the spotlight. This isn’t just about money; it’s about building a livestock narrative that resonates with resilience, sustainability, and profitability.
The Ministry of Finance’s Director General, Suleiman Sheikh Umar, couldn’t have put it better. “This is not merely an investment; it’s a promise to our nation’s economy,” he declared with a resolve as firm as a shepherd’s grip on their crook. Umar highlighted the fund’s potential to uplift pastoral communities, mitigate climate repercussions, and ignite the engines of economic growth.
In his words, “Our collaboration with Gargaara and the PFIs guarantees that funds don’t just trickle but cascade into the hands of those most in need.”
Gargaara’s CEO, Suleiman Dualeh, chimed in with a note of optimism: “Think of it not merely as a financial contraption, but as an ignition key for growth. By slashing financial hurdles and adopting risk-sharing blueprints, the fund empowers everyone from nomads to burgeoning businesses to not just stand, but soar.”
Meanwhile, Director General of the Ministry of Livestock, Forestry, and Range, Mohamed Omar Nur, sees the heart behind the numbers. “The livestock sector, rich and deeply engrained in our nation’s heritage, is more than a cash cow; it’s a testament to a lifestyle, the pulse of the community. The LVCF is their ally, offering the financial and technical acumen needed to tackle contemporary conundrums while opening doors to wider markets.”
Sonia Plaza, overseeing the HoA DRIVE Somalia Project for the World Bank, was quick to spotlight the initiative’s groundbreaking de-risking strategy. “Traditionally overlooked sectors like livestock need a champion, and this fund answers that call. It’s about stitching together a regional livestock tapestry that’s as resilient as it is inclusive.”
Let’s not mince words: Somalia’s livestock sector has its work cut out. It accounts for a whopping 80% of the country’s export revenues, offering sustenance and jobs to millions. Yet, it’s hampered by a lack of financial access, daunting investment risks, seesawing markets, shaky infrastructure, and the ever-looming shadow of climate threats.
The LVCF is not just about addressing these hurdles; it’s about vaulting over them with style and grit. It’s an armor against adversities and a bridge to newfound opportunities.
Read the full announcement to learn more about the LVCF:
This isn’t just the dawn of revitalization; it’s a call to action for stakeholders to join the chorus of growth. The livestock sector waits for no one, and with the LVCF, it’s set to sprint ahead and embrace its full potential.
Report By Axadle
