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AD Ports Group, a major player in global trade and logistics, signed a Memorandum of Understanding (MoU) with Somalia’s Ministry of Fisheries and Blue Economy on Wednesday. The agreement aims to explore investments in Somalia’s fisheries, ports, and broader maritime sectors, advancing Somalia’s economic stability and infrastructure.
AD Ports and Somalia’s Key Areas of Development
Under the new MoU, the collaboration will focus on:
Fish Ports and Processing Facilities: Plans to integrate fish ports and establish processing plants, promoting sustainable development in Somalia’s fishing industry.
Maritime Monitoring Centers: AD Ports Group will help develop maritime monitoring stations to boost security and surveillance along Somalia’s coastline.
Port Infrastructure: Upgrades to Somalia’s existing port infrastructure are part of the strategy to strengthen the nation’s trading capacity.
Vocational Training School: Establishing a technical school to train Somali professionals in fisheries and maritime industries, fostering long-term growth and local expertise.
Building on Regional Experience
AD Ports Group’s existing presence in Africa, including concessions in Egypt, Congo, Angola, and Tanzania, reflects its strong experience in maritime and port development across the continent. Somalia, with a fast-growing economy predicted to expand by 3.7% this year and 4.5% by 2025, aligns with AD Ports Group’s mission to contribute to stable and resilient economies.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, noted, “We see tremendous potential in Somalia’s maritime and fisheries sectors, and we are excited to explore ways to contribute to its economic growth through our expertise and resources.”
AD Ports Supporting Sustainable Growth in Somalia
Somalia’s Minister of Fisheries and Blue Economy, Ahmed Hassan Aden, expressed optimism about the collaboration, saying, “By joining forces with AD Ports Group, we are laying the groundwork for sustainable development in our port infrastructure and fishing industries. This partnership will drive economic opportunities for communities that rely on the maritime economy.”
The partnership will also include exploring the enforcement of maritime regulations and leveraging technology to enhance trade and economic connectivity within the region.