This report summarises the outcomes of the Bandhigga Guulaystayaasha Soomaaliyeed (BGS) 2025. The forum, which was the fourth annual event, was organized by Hormuud Telecom and Magann Forum and served as a crucial platform for high-level dialogue among government officials, private sector leaders, academics and other stakeholders.
This study examines the non-technical and structural barriers that constrain access to affordable and reliable electricity in Somalia, focusing on Mogadishu’s private energy market, which is dominated by the Banadir Electricity Company (BECO), Blue Sky Energy, and Mogadishu Power Supply (MPS).
This report summarises the outcomes of the Bandhigga Guulaystayaasha Soomaaliyeed (BGS) Forum, held in Mogadishu on October 17, 2024. The forum, organised annually by Hormuud Telecom, examined the role of financial technology (fintech) as a catalyst for economic transformation in Somalia.
The Somali Shilling is close to disappearing, and it is expected that Somalia will become completely cashless in the coming years. However, financial technology (Fintech) is stepping in to fill this gap, playing an increasingly significant role in daily transactions.
The financial technology (FinTech) sector in Somalia has emerged as a critical player in transforming the country’s financial landscape. With limited traditional banking infrastructure, particularly in rural areas, FinTech has stepped in to provide accessible financial services.
The rapid growth of Financial Technology (FinTech) globally has transformed financial services, driven innovation, and enhanced financial inclusion. However, this development also brings unique regulatory challenges, particularly in emerging markets like Somalia.
