Egyptian Investment Group Explores Somalia’s Fisheries and Livestock Sectors

Somalia is exploring potential investment opportunities with Egyptian-backed Zain-al-Abdin Group Africa Limited in fisheries, agriculture and livestock production.

Source: ftlsomalia

The company’s Chief Executive Officer, Dr Ashraf Omran, led a delegation that met with Faisal Adam Hassan, Director General of the Somali Investment Promotion Agency, on Sunday to discuss possible investments in the three sectors.

The agency said it would help connect the company with government institutions and private businesses, provide information on the country’s investment environment and identify potential projects.

Somalia has more than 3,300 kilometres of coastline, but its fisheries industry remains underdeveloped. The country also faces challenges from illegal fishing and limited infrastructure needed to support large-scale commercial operations.

Livestock remains a major source of foreign exchange for Somalia, particularly through exports of camels and goats to Gulf markets. However, the sector faces risks from livestock import restrictions linked to animal disease concerns. Agriculture is also vulnerable to drought and flooding.

The investment discussions form part of the agency’s efforts to attract foreign investors and support economic growth and job creation.

However, no investment agreement or financial commitment was announced following the meeting.