https://www.premierbank.so/

Somalia Advances Efforts to Join East African Community (EAC)

 

The Minister of Planning, Investment, and Economic Development in Somalia, Mohamud A. Sheikh Faarah, announced significant progress in Somalia’s endeavor to join the East African Community (EAC) under the leadership of President Hassan Sheikh and Prime Minister Hamza.

Minister Faarah emphasized that Somalia’s inclusion in the EAC would provide the bloc with the longest coastline in Africa, facilitating the connection of Red Sea and Indian Ocean trade routes.

Rebecca Miano, Kenya’s Cabinet Secretary for East African Community, expressed the intention to foster wealth and prosperity through the creation of a robust and expanded market resulting from Somalia’s admission to the EAC. This, she believes, will notably benefit the private sector.

The Federal Government of Somalia has diligently formulated plans to join the regional bloc, with Minister Farah viewing this as a prime opportunity to elevate the integration process in East Africa. He conveyed Somalia’s eagerness to align with fellow African nations in the continent’s fastest-integrating bloc.

Minister Farah underscored that Somalia’s participation in the EAC would contribute to addressing security challenges in the Horn of Africa. he highlighted the manifold advantages accompanying Somalia’s entry, including an expanded market for regional goods, enhanced infrastructure, and increased investment opportunities.

https://www.premierbank.so/