A high-level meeting was held today at the Somaliland Bank headquarters, bringing together the bank’s leadership and representatives from DP World, a global leader in logistics and port management, to discuss strategies for advancing Somaliland’s economic development.
The Somaliland Bank delegation included Chairman Mr. Abdinasir Ahmed Hirsi, Deputy Chairman Mr. Hamse Abdirahman Khayre, and Director General Mr. Yasin Jama Ahmed. Representing DP World were Mr. Supachai Wattanaveerachai, CEO for the Horn of Africa, Middle East, and Africa Region, Mr. Ali Diriye, General Manager of the Somaliland Ports Authority, and other senior officials.
The discussions built on prior engagements between DP World and Somaliland’s economic institutions, focusing on strengthening critical infrastructure, particularly in financial and insurance markets. The partnership aims to enhance the nation’s economy and position Somaliland as a regional trade hub.
DP World’s $400 million investment in Berbera Port has already boosted trade connectivity with landlocked Ethiopia and other African nations. This collaboration with Somaliland Bank seeks to integrate financial systems, expand access to banking services, and promote economic resilience.
“This partnership is a milestone for Somaliland’s economic future,” said Mr. Abdinasir Ahmed Hirsi. “Working with DP World, we aim to bolster our financial markets and unlock new opportunities for growth.”
Mr. Supachai Wattanaveerachai reaffirmed DP World’s commitment, adding their goal is to transform Berbera into a world-class trade hub, and collaborations with institutions like Somaliland Bank are vital for sustainable progress in the Horn of Africa region.
The meeting highlights Somaliland’s growing prominence in regional trade and its efforts to integrate into global financial systems.