Somalia’s Leader Calls on German Companies to Fuel a Revolutionary Economic Resurgence
In the bustling city of Frankfurt, an intriguing meeting took place between Somali President Hassan Sheikh Mohamud and Christoph Kannengiesser, CEO of Afrika-Verein. The venue? The renowned German-African Investment Conference. Their purpose was clear: forging stronger economic ties and boosting investment between Somalia and Germany. The event was covered extensively by SONNA, Somalia’s National News Agency.
FRANKFURT, Germany (AX) — In a spirited rallying cry, President Hassan Sheikh Mohamud spoke with great enthusiasm to the German entrepreneurs gathered at the conference. He proposed Somalia as a promising land of opportunities, enthusiastically emphasizing that it is “open for business.” His call was not merely a ceremonial gesture; it was a genuine invitation to form ambitious partnerships.
The conference, hosted by the German-African Business Association, or Afrika-Verein, was a melting pot of cross-continental ambitions. It attracted leaders from the German private sphere and various African governments. The forum aimed to uncover paths for expanding trade relations and nurturing investment initiatives.
With a ceremonial nod, Somalia enjoyed the status of being the guest of honor. Seizing the moment, Mohamud urged German companies to fearlessly plant roots in Somalia. He described the country’s progress as a “transformative journey” brimming with promise. Highlighted were sectors ripe for development—like infrastructure, agriculture, renewable energy, and industry. Somalia’s wealth of untapped natural resources and its vibrant workforce were spotlighted as powerful assets.
Alongside President Mohamud was Somalia’s Planning and Investment Minister, Abdirahman. They championed Somalia’s private sector, portraying it as flexible and powered by an entrepreneurial zest. This adaptable spirit, they argued, sets the stage for fruitful engagement with global investors.
Adding his voice to this compelling narrative, Afrika-Verein CEO Christoph Kannengiesser urged German businesses to explore African markets. He pointed out that these markets have witnessed growth rates that often surpass those of more developed economies. The fact that Afrika-Verein boasts over 550 member companies active across Africa illustrates Germany’s significant business stake in the continent. Highlighting industries like infrastructure, renewable energy, and agriculture, Kannengiesser painted Africa as a lively and dynamic market awaiting German enterprise.
The forum’s theme, “Creating the Ideal Framework to Unlock Trade and Investment Opportunities in Africa,” served as a beacon guiding the discussions. Attendees were engrossed in conversations about minimizing regulatory hurdles and identifying viable financing solutions for potential investors. A major focus was on devising risk mitigation strategies conducive to attracting more investment into Africa, with particular attention on startups and smaller businesses.
President Mohamud underscored the importance of international cooperation in tackling global challenges, from climate change to job creation and security issues. His message was one of shared opportunities: “Somalia is on a transformative trajectory, one that welcomes global partners to partake in its rebirth,” he proclaimed. He extended an open invitation to German businesses to establish operations in Somalia, hinting at the untapped potential awaiting explorers with foresight.
Edited by: Ali Musa
alimusa@axadletimes.com
Axadle international–Monitoring
