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Wednesday, April 24, 2024


    High expectations as Somalia president marks 100 days in office

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    This week marks the 100th day in office for Somalia’s President Hassan Sheikh Mohamoud, amid expectations of securing the country and improving the economy.
    The President, who defeated Mohammed Abdullahi in May, has promised political stability as well as economic recovery.

    President Mohamoud’s most difficult task to date has been to secure the country.

    The country is known for being the headquarters of the Al Shabaab militant group, which has claimed responsibility for numerous terror attacks and hundreds of deaths in the Horn of Africa.

    Mohamoud has vowed to arm the military with the necessary skills to combat these security threats from within, impose financial sanctions, and educate the public about the beliefs that allow them to sympathise with the terror group.

    The Somali national army, with the help of the Somali people, has launched terrorist operations in the regional states of South West, Hirshabelle, and Galmudug, resulting in the arrest or killing of hundreds of terrorists.

    In terms of the economy, the President is negotiating with the International Monetary Fund (IMF) to forgive the country’s debt and invest in the economy.

    The World Bank approved a $100 million (Sh120 billion) loan in June to be used for infrastructure investment and security of government projects.

    The European Union has also made a budgetary assistance programme available to Somalia.

    These efforts appear to have paid off, as the Central Bank of Somalia recently granted licences to Misr Banque and Ziraat BANK in Egypt and Turkey, respectively, to encourage increased levels of direct foreign investment.

    The President and top government officials recently presided over the Trade and Investment Conference between Somalia and Uganda in Kampala, where important agreements were made to connect Somalia’s business with African countries.

    There are numerous other business opportunities with neighbouring countries such as the United Arab Emirates, Turkey, Eritrea, Kenya, Djibouti, and Tanzania.

    Kenya’s agreement considers security, economic, and political cooperation, as well as trade agreements.

    President Hassan is also leading efforts for Somalia to be admitted to the East African Community, having attended a recent meeting in Arusha where Kenya’s outgoing President Uhuru Kenyatta handed over the chairmanship to Burundi’s Evariste Ndayishimiye.

    President Hassan’s administration has also developed a four-year plan to achieve the goals of a peaceful, just, and prosperous nation. And the foundation of a contract

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