SDIS Preliminary Findings & Recommendations Event
Presentation and Panel Discussion of Preliminary Findings & Recommendations from the Somali Diaspora Investment Survey Report
On April 21st, Shuraako co-hosted a presentation and panel on the Somali Diaspora Investment Survey (SDIS) Discussion Brief, and publically released the Brief for the first time. The event was co-hosted with the George Washington University Center for International Business Education and Research (GW-CIBER). The event presented the key findings on diaspora typologies, investment drivers and obstacles, as well as recommendations for improving access to diaspora investment opportunities.
H.E. Minister Abdusalam Omer, Somali Minister of Foreign Affairs and International Cooperation, delivered the keynote address stressing the importance of external investment capital for Somalia’s growth and development. Two of the report authors – Dr. Lindsay Heger and Lee Sorensen – presented the SDIS’ goals, key findings, and recommendations. The event highlight was six subject matter experts who presented their take on the report and discussed the findings and recommendations, which was followed by a lengthy and robust question and answer session with the audience members.
- Somalia is open to business; and diaspora and diaspora investors are eager and excited at the potential of Somali investments
- Somali diaspora are interested in seeking investment opportunities, and are patriotic investors who are committed to the country’s success
- Diaspora investors need access to reliable, local market data to inform investment decisions
- Diaspora investor groups and networks could be supported to enhance their internal governance and operations, as well as improve their investment toolkit (i.e., financial products designed for diaspora investor, reducing risk by international organization to encourage capital flows, broadening investors awareness of investment opportunities, etc.)
The launch of the full SDIS Report is likely to take place in June 2016. More information on this will be made available soon. The SDIS was co-funded by Shuraako and the International Fund for Agricultural Development (IFAD); and was conducted by Shuraako. The SDIS report authors are Jay Benson, Dr. Lindsay Heger, Lee Sorensen, and Alexandria Wise.
H.E. Minister Abdusalam Omer is the current Minister of Foreign Affairs and Investment Promotion of the Federal Republic of Somalia. Dr. Omer is a former Senior Associate at the Horn Economic and Social Policy Institute (HESPI), Governor of the Central Bank of Somalia, and has held senior consultancy positions with World Bank, United Nations and the Somali Government. Dr. Omer has served as the Program Manager for governance and financial services (GFS) at UNDP in Somalia, and is former Chief of Staff to Mayor Anthony A. Williams of the District of Columbia.