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Monday, July 22, 2024


    EU Funds London Consultancy with €5.3m for Somali Financial Reforms

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    Somali Magazine 29 Aug 2023- In a significant development reflecting the increasing international interest in Somali governance, Adam Smith International, the London-based consultancy with a strong track record in Somalia, has recently secured a consultancy contract in the East African nation.

    This initiative is being funded by the European Union, as part of its ongoing commitment to supporting good governance in developing countries, with a budget of over €5.3 million.

    Spanning a period of 36 months, this collaboration aims to assist the Office of the Auditor General of Somalia (OAGS) in overhauling its operations. Under the leadership of Ahmed Isse Gutale, the OAGS is embarking on a transformative journey to align its functions with the visionary commitments outlined in its 2023-2027 strategy.

    The consultancy contract goes beyond support for the OAGS. It also includes a crucial element of bolstering the efforts of the Financial Governance Committee (FGC). Established in 2014, the FGC serves as a pivotal platform for facilitating dialogue between global financiers and the Somali federal government, centralizing discussions on Somalia’s financial governance.

    However, it is essential to view these developments in the broader context of Somalia’s international reputation.

    As of last year, the nation still grappled with a challenging image, as Transparency International’s rankings placed Somalia at the bottom, designating it as the most corrupt country in the world.

    The implications of such consultancy contracts are vast and will play a crucial role in reshaping Somalia’s governance narrative, particularly in the eyes of global stakeholders. Only time will tell the effectiveness of these reforms and whether Somalia can climb up from the bottom of international rankings associated with corruption.

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