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Mohamed Ibrahim is the CFO at Gargaara Finance Limited. He is a former Economic and Financial Policy Advisor to the Office of the Prime Minister of Somalia.

Somalia’s banking sector has seen rapid expansion over the past 10 years but structural weaknesses mean the sector remains fragile. Mohamed Ibrahim analyses how the industry can build on its current growth to ensure long-term stability and growth.

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Despite its image as a dysfunctional state, Somalia seems to have overcome the worst aspects of civil war-induced destabilisation and is slowly finding an even keel. It has embarked on rebuilding, modernising and transforming its financial sector. The success of this sector is crucial in the overall economic stability of this East African nation.

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Mohamed Ibrahim

Why Somalia’s banks must consolidate

Reforming Somalia’s banking sector amid crisis and opportunity