Message from the President

The City of Mogadishu is the beating heart of Somalia’s economy and critical to realising Somalia’s economic potential. However, the city’s success has for decades being held back by the complete lack of physical capital. That is why we are supporting the establishment of New Mogadishu Development Corporation (NMDC) - a public-private partnership with a clear mission to lead investment in the city’s physical capital.  

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​NMDC is an essential component of the Somali government’s broader infrastructure strategy to deliver Nationally Important Infrastructure Projects (NIIPs). The new Corporation (i) brings industry expertise, private and public sector stakeholders together and (ii) will provide leadership to the market through partnership with the private sector to create and deliver the city’s infrastructure investment in pursuit of the following three strategic goals:

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​1- Developing the city’s infrastructure, economic zones and technology, prioritising in particular the completion of the new Mogadishu Economic Zone, International Airport and Seaport. Ports play an important role in the county’s growth and is a key priority area for the Somali government, creating skilled jobs and facilitating the economic activities that will transform the lives of millions of Somalis.

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​2- Promoting the city’s economic growth through private investment by taking on risks that other investors are not yet willing to take in a way that encourages the development of the city’s infrastructure, housing and financial markets.  By acting as a cornerstone investor, the NMDC will seek to remove barriers to investment, generate a positive financial return and crowd-in private capital.

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​3- Supporting the development and integration of infrastructure provision, including necessary community infrastructure such as the provision of schools, hospitals and recreational facilities, making sure local residents are able to access the employment opportunities arising from these development initiatives.

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​Mogadishu is a city of nearly four million people and continues to grow fast. By focusing on the key areas with greatest potential for economic growth, I believe the transformation of the city will help improve trade, business positioning and create millions of new jobs. Ultimately, a successful Mogadishu is critical to Somalia’s journey to development and prosperity.

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​Given the scale of investment and the nature of the projects required, NMDC’s partnership with the private sector will be instrumental in crowding in private capital. The corporation’s risk appetite will be focused on achieving its strategic policy objectives as well as delivering a positive financial return for private investors.

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​I see the exciting potential to bring about a new Mogadishu, creating prosperity for all. Let us make it happen. Let us build for the future, together.