Somali key economy is based on exporting of domestic animals to the Gulf States and other countries especially the neighboring countries; the country also has potential in the agriculture sector and currently exports Sesame, Bananas and Lemon. Moreover there is huge potentiality in the Fishery sector even though the sector is under developed due to poor fishing gears, security, poor hygiene and lack of proper storage facilities as well as lack of knowledge in modern and efficient fishing coupled with environmental safety issues The economy has been steadily growing from 2016 as per world bank record, of the past two decades money remittance and emergence of Hawala has grown as well as the ICT sector where Somalia impressed the fiber optic based internet that made communication efficient and improved business process.
However, there have been recurrent drought and the worst remembered is the 2011 drought that took away many lives, created IDPS and many livestock were lost. Poor infrastructure and security are other major setbacks in the country, farmers cannot ferry their harvest from one location to the other as the roads are impassable or completely destroyed by the civil war and there have not been major maintenance and repairs taken. Somali is ranked 190 out in the ease of doing business report by World Bank 2019, the report indicated most practical procedures are not in place in registering business and companies. Somalia lacks investment law necessary for opening up the country compete in the region for attracting direct foreign investment with no credit bureau facility for the financial sector.
The huge unemployment coupled by youth engaging in illicit trade such as piracy and terrorism can be very much addressed in the TVET sector. Providing the youth life skills necessary filling in the market gaps particularly the private sector. Such facilities exist in some major cities in Somalia but may not be complete with right tutors as well as lacks agreed certification mechanism at the end of the short courses. These could be address with directly addressing with relevant ministries to revive previously owned government TVET center at national and subnational level and as well as organizing the Technical vocational trainings by regulating and certifying the courses for quality assurance. Somali one will continue in engaging in these sectors and be part of the sector working groups in the country and continue its engagement with both the private sector and the government.
Photo: Chilani Fishery Cooperative at landing bay-Barawe-Somalia
The Market in Barawe previously was in a very bad shape, it was unhygienic and the roof leaking and sun light penetrated thus making the catch of the community more rapidly perishable, Somali one renovated the market and also constructed a concrete septic tank that the fisher persons could now direct all their waste to unlike previously to the ocean to safe guard the environment and ocean life and improve the standard and the hygiene of the market.