Mogadishu, Somalia — Somalia’s Finance Minister, Bihi Egeh, officially opened the Fifth Somali Business Innovation Summit in Mogadishu today, reaffirming the government’s commitment to fostering entrepreneurship and unlocking investment for the nation’s growing startup ecosystem.
The summit, now in its fifth edition, brings together aspiring entrepreneurs, established business leaders, innovators, investors, and development partners under one roof to explore pathways for economic transformation.
This year’s theme emphasizes “Innovation for Resilience and Growth” and focuses on empowering Somali-owned enterprises, especially youth-led startups, to scale up through innovation and strategic financing.
In his keynote speech, Egeh highlighted the critical role of innovation in Somalia’s economic recovery and long-term development.
“Somali entrepreneurs are showing the world what’s possible with courage, creativity, and ambition. This summit is not just a meeting of minds, but a launchpad for ideas that can drive job creation and build a resilient national economy,” he said.
Organized in collaboration with private sector partners, academic institutions, and international stakeholders, the summit includes a startup pitch competition, panel discussions on digital transformation, financing innovation, and the role of diaspora investment in Somalia’s business landscape.
Several local startups showcased groundbreaking solutions in sectors ranging from fintech and agritech to renewable energy and logistics. Participants also had the opportunity to connect with angel investors, venture capitalists, and donors interested in supporting Somalia’s entrepreneurship ecosystem.
The summit comes at a time when Somalia is making strides in regulatory reforms, public-private partnerships, and financial inclusion to create a more conducive environment for business growth.
Organizers noted that the event will conclude with the presentation of innovation awards and the release of a new policy brief on scaling youth entrepreneurship in fragile economies.
The Somali Business Innovation Summit continues through July 31 and is expected to catalyze new collaborations that support homegrown innovation and sustainable development.