Somalia has signed a Memorandum of Understanding (MoU) on investment with Rwanda.
The MoU is the product of a meeting between a delegation from Somalia and its hosts in Rwanda.
The Somali delegation that visited Rwanda was under the leadership of Mohamed Dubo, the Director of the Somalia Investment Promotion Office (SOMINVEST).
SOMINVEST is a department under the Ministry of Planning, Investment, and Economic Development.
On Thursday, July 8, Dubo signed the MoU on behalf of Somalia.
Zephanie Niyonkuru, the Deputy Chief Executive Officer (CEO) of the Rwanda Development Board (RDB), signed the memorandum on behalf of Rwanda.
Dubo confirmed that Somalia’s Ministry of Foreign Affairs and the Office of the Attorney General have approved the agreement.
The SOMINVEST Director believes that the agreement would enhance investment cooperation between the two nations.