Somalia Business Directory & List of Companies

Capital City and 5 Largest Cities in Somalia

1. Mogadishu
2. Hargeisa
3. Kismayo
4. Bosaso
5. Galkayo

Somalia on Map - see more from Google map

Somalia Economy in Figures

Overview

Somalia's economy is characterized by a mix of formal and informal sectors, with challenges stemming from political instability and conflict.

Key Economic Indicators

• Gross Domestic Product (GDP): Data not readily available
• GDP per Capita: Data not readily available
• Main Economic Activities: Agriculture, livestock, remittances, trade, and informal sectors
• Currency: Somali Shilling (SOS)

Economic Challenges

Somalia faces numerous economic challenges, including political instability, limited infrastructure, access to financial services, and poverty.

Informal Economy

A significant portion of Somalia's economy operates in the informal sector, which includes small-scale trade, agriculture, and remittances from the Somali diaspora.

Financial Services

Access to formal financial services is limited, with many Somalis relying on informal financial systems.

International Support

Somalia receives international assistance and aid to support economic development and humanitarian needs.

Ten Top Banks in Somalia

1. Central Bank of Somalia

   The central bank of Somalia responsible for monetary policy and financial stability.

2. Commercial Bank of Somalia

   A commercial bank offering a range of banking services to individuals and businesses.

3. International Bank of Somalia

   An international bank providing financial services and facilitating international transactions.

4. MyBank Somalia

   A regional bank serving the local population with various banking solutions.

5. Hormuud Bank

   A bank offering financial services, including savings and loans, to customers in Somalia.

6. Dahabshiil Bank International

   A bank associated with the Dahabshiil money transfer company, providing financial services and remittance options.

7. Barakaat Bank of Somalia

   A bank affiliated with the Barakaat money transfer network, offering banking services.

8. Amal Bank Somalia

   A bank serving customers with financial products and services in Somalia.

9. IQK Bank Somalia

   A regional bank providing banking solutions to individuals and businesses.

10. Global Bank of Somalia

    A financial institution offering banking and financial services to the Somali population.