Italian Business Leaders Arrive in Mogadishu as Somalia-Italy Economic Ties Strengthen

MOGADISHU – The Minister of Commerce and Industry of the Federal Government of Somalia, Jamaal Mohamed Hassan, today welcomed a high-level delegation of business leaders from Italy upon their arrival at Aden Adde International Airport in Mogadishu. The reception was attended by members of Somalia’s business community and other officials.

The visit forms part of preparations for Somalia–Italy Business Week 2026, a platform aimed at strengthening trade relations, investment opportunities, and economic cooperation between the two nations. The event is being organized through a partnership between the Ministry of Commerce and Industry, IBS Bank, PollLink Group, and the Somali Embassy in Italy.

Deepening Economic Ties

The warm reception at Mogadishu’s main airport highlighted the growing confidence between the Somali government and the Italian private sector. This strategic partnership intends to facilitate trade and investment, promoting economic growth and job creation in key sectors such as industry, trade, and infrastructure development.

Minister Hassan previously held a high-level meeting with Italian Ambassador Pier Mario Daccò, where the two sides committed to recalibrating the longstanding bilateral relationship toward economic integration, foreign direct investment, and industrial expansion. The officials established a framework to attract foreign investment targeting increased local manufacturing capabilities, with the aim of using industrial growth to create sustainable job opportunities for Somali youth.

Somalia’s Deputy Prime Minister Salah Ahmed Jama recently celebrated the historic ties between the two nations, reinforcing the mutual political will for closer cooperation. Italy has intensified its development cooperation with Somalia in recent months, including a historic mission to Garowe that launched a strategic initiative for sustainable fishing and the development of the blue economy.

The two nations have deepened their strategic partnership with a focus on health, infrastructure, and blue economy. In April, Italy launched the “Quality and Equal Primary Health Services for All in Somalia” (QEPHS) initiative to strengthen key national health institutions, including De Martino National Referral Hospital, the National Blood Bank, and the National Health Professionals Council.

Turning Partnership into Industrial Action

The arrival of the Italian business delegation follows a period of sustained diplomatic engagement at the highest levels. President Hassan Sheikh Mohamud addressed the Italy-Africa Summit in Addis Ababa, where he called for a shift from conventional aid to strategic partnership while issuing a stern rebuke against threats to Somalia’s territorial integrity. Discussions focused on the Mattei Plan, an Italian initiative designed to invest in fundamental sectors that promote sustained stability and development.

Somalia’s Minister of Foreign Affairs, Abdisalam Ali, officially welcomed Italy’s Ambassador to Somalia, Pier Mario Daccò Coppi, during a meeting at the ministry’s headquarters in Mogadishu, further solidifying the diplomatic foundation for economic cooperation.

Italy’s backing of the African Union Support and Stabilization Mission in Somalia (AUSSOM) and the G7’s Apulia Food Systems Initiative further underscores its commitment to Somali-led stabilisation efforts.

Institutional Role of IBS Bank and PollLink Group

The inclusion of IBS Bank as an organising partner is particularly significant. IBS Bank is Somalia’s premier global commercial and investment bank, headquartered in Mogadishu. Incorporated in July 2013 and licensed by the Central Bank of Somalia, IBS Bank has been the first Somali bank to introduce full banking products for both local and international operations. In 2025, it was ranked Somalia’s top company by revenue, with $49.3 million. The bank also offers Sharia-compliant financial solutions, aligning with local market needs. Its involvement is expected to facilitate trade finance and provide banking services that support the delegation’s investment plans.

PollLink Group, a strategic partner in the initiative, further reinforces the private sector bridge between the two countries. Together, these institutions aim to turn business dialogue into concrete economic deals during the upcoming Business Week.

Way Forward: Somalia–Italy Business Week 2026

As the Italian business delegation begins its work in Mogadishu, the Somalia–Italy Business Week 2026 is expected to feature a full schedule of business-to-business meetings, site visits, and sector-specific seminars. The forum will focus on high-potential industries such as agriculture, fisheries, infrastructure, logistics, energy, and manufacturing.

Italy has also been strengthening security cooperation with Somalia, with the Somali Army Commander holding talks with the Italian Defense Attaché to boost military ties. This reinforces Italy’s position as a cornerstone partner in Somalia’s broader security sector reform and its ongoing transition toward assuming full national security responsibilities.

This evolving economic partnership signals a shift from traditional cooperation toward a more balanced, investment-driven model that aligns with Somalia’s long-term development goals. It also underscores the federal government’s determination to leverage international partnerships as a driver of domestic economic recovery, job creation, and integration into global markets.