Wednesday October 30, 2024
Somali Minister of Fisheries and Blue Economy Ahmed Hassan Adam and Abu Dhabi Ports Group CEO Captain Mohamed Juma Al Shamisi sign a Memorandum of Understanding in Abu Dhabi, formalizing a partnership to develop Somalia's maritime sector and bolster the country's fisheries industry. CREDIT/ SONNA
Mogadishu (HOL) — Somalia’s Ministry of Fisheries and Blue Economy has signed a sweeping agreement with Abu Dhabi PORTS Group to transform the country’s fisheries and port infrastructure—a step that could bring new stability and much-needed economic growth to Somalia’s coastline after decades of conflict.
The memorandum of understanding (MoU), recently ratified by Somalia’s Council of Ministers, lays out an ambitious blueprint for overhauling fishing facilities, upgrading port infrastructure, and launching vocational programs to equip Somali fishermen with modern skills. According to the ministry, the partnership will involve building new fishing ports, establishing marine monitoring systems, and developing training centers to strengthen Somalia’s coastal economy, where fishing remains one of the few viable livelihoods in regions like Puntland and Galmudug.
“Our objective is simple yet profound,” said Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi PORTS Group. “By working with Somalia to develop essential infrastructure, we’re helping to foster sustainable growth, empower local communities, and secure new economic opportunities in the fishing sector.” The UAE-based company, a major player in African and Asian port management, operates projects across Egypt, Angola, Tanzania, and Pakistan, where it has pioneered integrated logistics and trade solutions.
In a July cabinet meeting, Prime Minister Hamza Abdi Barre ratified an MoU with Abu Dhabi Ports Group to strengthen Somalia’s maritime sector, though specific details were withheld.
For Somalia, the partnership could be transformative. Minister of Fisheries and Blue Economy Ahmed Hassan Adam described it as an “investment in our people and our resources,” pointing to the deal’s potential to boost economic stability and resilience along Somalia’s coast. “This isn’t just about financial support; it’s about creating a foundation for sustainable growth and opportunities for our communities,” Adam added.
The MoU signals Somalia’s growing interest in attracting foreign investment as it rebuilds. In recent years, the UAE has strengthened its presence in Africa, with Abu Dhabi PORTS Group positioned as a leader in regional trade and logistics. Somalia’s strategic location along the Red Sea and Gulf of Aden places it at the heart of a critical maritime route, making this deal as much about security and influence as it is about economic development.
Although the agreement’s financial specifics remain confidential, both sides have stressed its transparency and mutual benefits.