London — Somalia’s Minister of Finance, Bihi Iman Egeh, has been awarded the prestigious title of Africa’s Finance Minister of the Year 2025 at the 15th ALM Africa Leadership Summit held in London. The accolade honors Egeh’s transformative leadership in guiding Somalia through a historic period of economic reform and fiscal recovery.
According to the African Leadership Magazine (ALM), which hosts the annual summit and awards, Egeh was recognized for his instrumental role in leading Somalia to the Heavily Indebted Poor Countries (HIPC) Initiative Completion Point, a milestone that unlocked $4.5 billion in debt relief for the East African nation.
“This landmark achievement has effectively reset Somalia’s fiscal trajectory. Egeh’s commitment to transparency, domestic revenue mobilization, and governance reform has laid a strong foundation for sustainable economic growth,” announced ALM.
The debt relief—granted by international financial institutions and bilateral creditors—has dramatically reduced Somalia’s external debt burden, freeing up resources for development and infrastructure while bolstering investor confidence.
Under Egeh’s tenure, Somalia has also made progress in strengthening public financial management, expanding digital tax systems, and enhancing institutional accountability. He has overseen initiatives aimed at reducing reliance on donor support, with recent data showing that domestic revenue now covers a significant portion of the federal budget.
In his acceptance speech, Egeh dedicated the award to “the resilience and aspirations of the Somali people,” and reiterated the government’s commitment to achieving fiscal self-sufficiency and inclusive development.
The ALM Africa Leadership Summit gathers policymakers, business leaders, and civil society actors from across the continent to spotlight innovative leadership and best practices in governance, finance, and development.