AGP Executive Report
Last update: 5 hours agoTelecoms: Hormuud founder Ahmed Mohamed Yusuf says the company now serves about four million customers, backed by 18,000 Somali shareholders, and has expanded fibre, submarine-cable links and 5G—showing the scale of homegrown investment in Somalia’s digital economy. Investment: Somalia promoted opportunities at the World Investment Forum in Qatar, while urging local investors to develop marine and agricultural resources. Türkiye is also preparing a research vessel mission off Somalia to support the blue economy. Public Finance: The World Bank has flagged deep gaps in Somalia’s revenue collection and public spending, while saying fiscal reforms could help raise revenue, support jobs and fund essential services. Trade: Somalia’s entry into the African Continental Free Trade Area opens a path to wider regional markets. A new bill establishing a legal framework for digital transactions could also support online commerce and payments. Business Costs: Three Somali electricity companies raised tariffs by five cents amid higher fuel costs, adding pressure on households and businesses.
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