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Amid violence, Somali President pitches country as irresistible investment

August 6th, 2014
09:47 AM ET

By Mick Krever and Claire Calzonetti, CNN

Hassan Sheikh Mohamud has a pitch.

“There is no investment without risk,” the president of Somalia – a country nearly synonymous with “failed state” – told CNN’s Fred Pleitgen, in for Christiane Amanpour, on Tuesday.

“In Somalia, the level of risk right now we have – some people may claim that it's high, but it's not. It's a security situation that is improving. It is a state-building program that is improving. And there is a very bright future for Somalia and for the partners in Somalia.”

Optimism may as well be a job requirement for the leader of Somalia – especially for one who is pitching his country to investors at the first-ever U.S.-Africa summit in Washington.

When Mohamud was elected president in 2012, it was the first election the country had held on home soil in several decades.

Large swaths of the country are still ruled by Islamist militants, al-Shabaab, who have recently stepped up their attacks in the capital, Mogadishu. The country’s long coastline on the Indian Ocean remains a launching point for the modern-day pirates that wreak havoc on popular shipping lanes.

Just last Friday, Shabaab militants shot a Somali parliamentarian dead in a brazen attack in Mogadishu. And in July, militants breached Mohamud’s own presidential compound; Mohamud was not present at the time.

“We do not deny that there are challenges in Somalia. Somalia has been … without a functioning state for over two decades now.”

“We are not anymore the Somalia of the piracy, the Somalia of terrorists, the Somalia of famine. Somalia has a great future. This is a very rich country.”

As with a penny stock, Mohamud pitch to investors seems to be: Get in now or regret it later.

“In two years' time, we reversed the whole thing, the whole situation in Somalia. We have financial institutions that we are now building in collaboration with the African Development Bank, the World Bank, the IMF.”

Nonetheless, the country was still rated 175th out of 177 on Transparency International’s Corruption Perceptions Index last year.

“We want Somalia to go high up in the index of the transparency international. There was no institutions in the past. Now we have the institutions back in place and functioning.”

Only a decade ago, a U.S.-Africa summit would probably have centered mostly around aid deliveries to impoverished nations. But Africa has since developed into one of the fastest growing regions on earth, so the summit now going on in Washington is focused mostly on deepening trade ties between Africa and America.

“What we are looking [for] right now is investment,” Mohamud said. “It's not in a show of grants and donations only.”

The increasingly daring attacks by Shabaab, an al-Qaeda-affiliated group, are no doubt a worry for potential investors.

“This is a sign of defeat,” Mohamud said. “It's not sign of strength.”

“They cannot confront … the joint operation of Somalia national army and the African Union mission. So they changed the tactic and make it asymmetrical urban warfare.”

“Today as I'm speaking right now in the CNN they killed ten elders in one of the villages in the Bay region and they destroyed the water well. This is a desperation.”

“Shabaab is [an] ideology-based organization and ideology has no citizenship or has no boundaries at all.”

The only reason they use Somalia as their base, Mohamud said, was the longstanding political and security vacuum.

“This is not the challenge for the Somali nation only. It's challenge for the region, for the continent and the world at large.”

Overshadowing much of the Washington conference is the outbreak of Ebola on the opposite end of the African continent – the most-deadly ever spate of the deadly virus.

“Our hearts and minds are with” those countries – Sierra Leone, Liberia, Guinea, and now Nigeria – affected by Ebola, Mohamud said.

“And in the meantime, we've been agreed that we take the necessary precautions … to make sure that the virus doesn't jump from the west to the east part, the eastern part of the continent.”

Filed under:  Latest Episode • Somalia
soundoff (9 Responses)
  1. Erm...

    Ukrainian journalists reported to be kidnapped by the anti-Ukrainian resistance by CNN were according to their interview kidnapped and tortured by pro-Ukrainian battalion "Krivbass".

    #CNN Lies.

    August 6, 2014 at 11:00 am | Reply
  2. Yussuf Issa

    Just some corrections. Mr. Hassan was not elected by the Somali people. He was appointed by the Somali Parliament which was also appointed and not elected by the people either. Mr. Hassan comes across someone who has never experienced even a day the burden of being a leader of a nation let alone a leader of a failed state, a state ridden with decades of violence and civil wars, corruption, famine, terrorism and misery. He speaks and looks like a 16 year old lad who just received his first payday check and can not wait to show his dear mom his new financial gains. He is in a LaLa land. He lacks seriousness and definitely vision. Just a mazing....."we are not a land of terrorism".

    August 7, 2014 at 12:25 am | Reply
    • SanRose

      If your comment everything about Mr Hassan imperfection and not suitable . I would suggest you " Mr Yussuf Issa " to volunteer to lead the Somalia FG. You only sit and type and know how to critics, please volunteer yourself to lead .

      August 7, 2014 at 7:04 am | Reply
  3. Abass abdullahi

    to my point of view, Al shabaab is just like an Ebola, so what we need is to co-ordinate together and to deploy all our resources against war on shabaab, This issue must be the first priority of the federal government, also we need to launch parallel strategy public press warfare and military. At the same time all divided local states must implement all UN resolutions over Somalia without discussion in anyway, because without stability nothing is possible, I urge the president not waste time with waring clans, all clans must work with the government and take part war on shabaab, otherwise they should be disarmed. and the government should listen its military personnel not by armed clans who have hidden agenda. those who are fighting with shabaab should have the priority not tribes who are calling the government to withdrawn its troops and do their hidden agenda. i urge the president first listen your troops on the front not clan elders who are busy with territory disputes.

    August 13, 2014 at 3:18 pm | Reply
  4. Damion Wolfenden

    Jim, the people closed their eyes to what he was really saying and voted because of his being able to be the First Black President. Its also possible to be the first worst president.

    January 12, 2021 at 12:11 am | Reply
  5. Curtis Balvanz

    But wanna say that this is very helpful , Thanks for taking your time to write this.

    March 4, 2021 at 9:39 am | Reply
  6. alivarb – Arocilake Alaxuh

    April 10, 2021 at 6:14 pm | Reply
  7. efexedu – Abuyufa Fokeqomaq

    April 10, 2021 at 6:23 pm | Reply
  8. oxunipuut – Otonib Oguxazek

    April 10, 2021 at 6:33 pm | Reply

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