Hargeisa, Somaliland – Somaliland’s economy is showing measurable signs of acceleration, with Finance Minister Abdillahi Hassan Adan reporting a significant boost in national revenue and commercial activity to the Council of Ministers this week.
The minister attributed the positive trend to growing public confidence in the government’s economic stewardship.
“We are witnessing daily improvements in revenue collection, driven by the trust citizens have in our economic strategies,” Hassan stated during his fiscal presentation.
He highlighted increased market transactions and business operations as tangible evidence of the territory’s economic momentum, crediting targeted policies designed to foster a business-friendly environment.
To sustain this growth trajectory, the Finance Ministry is undertaking a comprehensive review of key tax structures. The initiative aims to optimize revenue generation while supporting broader economic recovery efforts.
“Our focus is on optimizing tax systems to ensure sustainable revenue growth that benefits all Somalilanders,” Hassan emphasized, signaling a commitment to balanced fiscal reform.
The minister’s report positions Somaliland as an emerging economic hub in the Horn of Africa, citing steady progress toward macroeconomic stability. The government’s proactive approach to fiscal management appears to be resonating with both citizens and international investors seeking opportunities in the region.
Key Developments Highlighted:
– Rising Revenue: Consistent upward trend in national income collection
– Commercial Vitality: Increased market transactions and business operations
– Policy Shift: Tax system reassessment to enhance sustainable revenue streams
– Investor Confidence: Growing optimism about Somaliland’s economic trajectory
The announcement comes amid Somaliland’s ongoing push for international recognition, with economic resilience increasingly central to its diplomatic narrative. Analysts suggest that demonstrable fiscal stability could strengthen Hargeisa’s position in regional trade partnerships and foreign investment negotiations.
About the Ministry
The Ministry of Finance Development of the Republic of Somaliland is the Somaliland government ministry which is concerned with the economy of Somaliland. In particular, it concerns itself with taxation, financial legislation, financial institutions, and capital markets. It’s also responsible for planning and carrying out the government policy on public finance and budget, and it applies and manages the regional and local financing systems and the provision of information on the economic-financial activity of the different public administrations. The current minister is Abdillahi Hassan Adan. The ministry was formed in 1991.
Ministers of Finance
| No. | Minister | Period |
| 1 | Ismail Mahmud Hurre | (1991-1993) |
| 2 | Abdillahi Mohamed Duale | (1993-1994) |
| 3 | Ibrahim Abdi Muse | (1994) |
| 4 | Mohamed Ahmed Samatar | (1994) |
| 5 | Mohamed Dhimbil Galbedi | (1994-1995) |
| 6 | Awil Haji Omar | (1995-1996) |
| 7 | Suleiman Mohamoud Adan | (1996-1997) |
| 8 | Yusuf Ainab Muse | (1997) |
| 9 | Ahmed Mohamed Mohamoud | (1997-1999) |
| 10 | Mohamed Said Mohamed | (1999-2001) |
| 11 | Hussein Farah Dodi | (2001-2003) |
| 12 | Hussein Ali Duale | (2003-2010) |
| 13 | Mohamed Hashi Elmi | (2010-2012) |
| 14 | Abdiaziz Mohamed Samale | (2012-2015) |
| 15 | Zamzam Abdi Adan | (2015-2017) |
| 16 | Yusuf Mohamed Abdi | (2017-2018) |
| 17 | Dr. Saad Ali Shire | (2018–2024) |
| 18 | Abdillahi Hassan Adan | (2024–Present) |
