Mohamoud Walaaleye
Professor Eid Ali Ahmed’s quiet contribution to institution-building, strategic planning and the transformation of Somaliland’s financial sector
Every institution has a turning point—a moment when it moves from simply performing its daily functions to defining where it wants to go.
For the Somaliland Central Bank, one of those defining moments came in 2017, when it began laying the groundwork for its first formal Strategic Plan, covering 2018–2022. The article was originally prepared by Ahmed Suleiman, Editor of Dawan, and I translated it into English. It begins:
At the centre of that effort was Professor Eid Ali Ahmed, an academic, banking expert and strategic planner who brought his knowledge and international professional experience back to Somaliland and offered it in service of national institution-building.
His contribution was not simply to write a document. It was to help an institution articulate its direction, define its priorities, strengthen its leadership, and prepare its people for the work of turning strategy into reality.
The Strategic Plan became an important milestone in the institutional development of the Somaliland Central Bank, establishing a five-year framework centred on monetary and financial stability, financial-sector development, institutional strengthening and sustainable economic growth.
From Vision to Strategy
Professor Eid’s approach reflected the understanding that a central bank cannot operate effectively without a clear institutional vision.
The plan sought to strengthen the Bank’s governance, human resources, technology, payment systems, accountability and transparency while laying the groundwork for a more modern and efficient central banking institution.
But Professor Eid also emphasized that monetary and financial stability alone could not deliver sustainable prosperity.
At the launch of the strategy, he stressed the need to connect financial stability with broader economic reforms, diversification, job creation, poverty reduction and sustainable economic growth.
In other words, the Central Bank’s development could not be separated from the development of the wider economy.
Building the People Behind the Plan
Perhaps one of the most important aspects of Professor Eid’s contribution was that he did not stop at preparing the strategy.
A strategic plan is only as strong as the people responsible for implementing it.
To address that challenge, Professor Eid provided training to 17 directors of the Central Bank, equipping senior officials with knowledge and skills intended to support the implementation of the new strategy.
His work therefore combined strategic planning with training, advisory support and institutional capacity-building.
That made his contribution broader than the preparation of a strategic document. He was helping build both the roadmap and the institutional capacity required to follow it.
A Historic Certificate of Appreciation
The Central Bank formally recognized Professor Eid’s contribution.
On 1 November 2017, he was presented with a certificate of appreciation for his role in preparing the Bank’s first Strategic Plan, covering 2018–2022.
The certificate was signed by the then Governor of the Central Bank, Mohamed Abdi Ibrahim.
For Professor Eid, the recognition represented more than an individual achievement. It became a historical record of a moment when Somaliland’s central monetary institution was taking an important step toward structured, long-term institutional planning.
Remembering the Officials Who Supported the Process
Professor Eid has also acknowledged the Somaliland officials who helped facilitate the development of the strategy.
Among those he specifically thanked were Mohamed Abdi Ibrahim, then Governor of the Central Bank; Omar Mohamed Yusuf Booh (RIP), then Deputy Governor; and Abdillahi Hassan Adan, who was Director General of the Central Bank at the time and now serves as Somaliland’s Minister of Finance and Economic Development.
Their support, he noted, was important in facilitating the preparation and implementation of the strategic programme.
The Banking Industry Welcomes the Strategy
The private banking sector also recognized the significance of the plan.
Abdihakim Mohamed Ismail, representing Dahabshiil International Bank, praised the strategy and Professor Eid’s contribution, describing the plan as important for strengthening the Central Bank, developing private banking and supporting the broader financial system.
He emphasized that the Central Bank is fundamental to guiding the economy and maintaining financial stability.
Mohamed Ibrahim, representing Dara-Salaam Bank, similarly praised the plan, highlighting its focus on strengthening the Central Bank, improving regulation of private banks and developing staff capacity.
For private financial institutions, the strategy offered something particularly important: a clearer institutional framework for the regulator responsible for overseeing the banking sector.
Liban Ismail, representing Premier Bank, described the strategy as modern and aligned with international financial standards.
He said it could strengthen the Central Bank and contribute to economic growth, while demonstrating that the institution was preparing itself to fulfil its responsibilities toward the country’s banking sector.
Liban referred to the Central Bank as the “mother of banks”, arguing that it should lead the development, guidance and protection of Somaliland’s banking system.
“An Institution Without a Plan Cannot Know Where It Is Going”
Among those who strongly praised Professor Eid’s contribution was Said Mohamed Elmi, who served as Chairman of the Economic Committee of the Somaliland House of Representatives and previously served as Director of the Central Bank.
He emphasized a simple but fundamental principle: an institution without a clear plan cannot know where it is going.
For him, the strategic plan gave the Central Bank a clearer sense of direction, vision and ambition.
Speaking at the time, Said Mohamed Elmi described 1 November 2017 as a day worthy of special recognition.
“Today, 1 November 2017, is a significant day for Somaliland and deserves to be specially remembered, honoured, and recognized. This day marks an important milestone for the Central Bank, because it was the day the Bank acquired a clear institutional identity and a Strategic Plan. For this, I would like to thank Professor Eid Ali Ahmed, who developed that plan.”
His words captured the broader significance attached to the strategy: it was not merely another administrative document, but a marker in the evolution of an important national institution.
“If We Had Not Had This Plan…”
The then Governor of the Central Bank, Mohamed Abdi Ibrahim, was equally emphatic in his appreciation of Professor Eid’s work.
He said:
“Today, I am extremely pleased with these new programmes. I would like to extend my special thanks to Professor Eid Ali Ahmed, the expert who developed this strategy with great professionalism. I say to him: May Allah reward you, because if we had not had this plan, we would not have been able to achieve our vision and fulfil our goals.”
The Governor went further, praising Professor Eid for his dedication to the work.
“I would particularly like to thank the expert who devoted himself to this work and accomplished something significant for us. As the saying goes: ‘When you find people, you find wealth.’”
He also announced that Professor Eid would support further training aimed at strengthening the knowledge and skills of Central Bank employees.
The goal, he explained, was to move through the strategy step by step, translating its ambitions into practical action.
A Scholar Who Turned Knowledge into Service
Professor Eid Ali Ahmed’s story is ultimately about more than one strategic plan.
It is about the role that experienced professionals and scholars can play in building institutions in a country where institutional development requires both vision and expertise.
His background in banking, management, strategic planning, institutional development and research gave him a broad perspective on the challenges facing financial institutions.
But perhaps more significant was his decision to apply that knowledge directly to Somaliland’s institutional development.
Rather than keeping his expertise within academic circles, Professor Eid brought his international experience home and offered it in service of national institutions.
His work demonstrated how academic knowledge can be transformed into practical institutional reform.
A Legacy Written into Institutional History
The 2018–2022 Strategic Plan may have been a five-year document, but the institutional principle behind it was longer-lasting: successful institutions need a clear vision, measurable objectives, capable people and a willingness to plan beyond the immediate moment.
Professor Eid’s contribution combined all four.
He helped the Central Bank establish a strategic direction, trained senior officials who would participate in implementation, and promoted a broader understanding of what a modern central bank should become.
That is why his contribution deserves to be remembered not simply as the preparation of a document, but as part of the continuing story of Somaliland’s institution-building.
Institutions are built over time. Strategies provide them with direction. But behind every successful strategy are people willing to contribute their knowledge, experience and vision.
For Somaliland’s Central Bank, Professor Eid Ali Ahmed was one of those people.