The Somali Stock Exchange (SSE), also known as the Somalia Stock Exchange, is the national
bourse of
Somalia
Somalia, , Osmanya script: 𐒈𐒝𐒑𐒛𐒐𐒘𐒕𐒖; ar, الصومال, aṣ-Ṣūmāl officially the Federal Republic of SomaliaThe ''Federal Republic of Somalia'' is the country's name per Article 1 of thProvisional Constituti ...
founded by SEF.
Overview
![Hassan Dudde and Nandini Sukumar](https://upload.wikimedia.org/wikipedia/commons/7/79/Hassan_Dudde_and_Nandini_Sukumar.png)
The Somali Stock Exchange (SSE) was founded by the management of the Somali Economic Forum (SEF), whose principal aim is to encourage
Foreign Direct Investment
A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct co ...
(FDI) into Somalia’s growing economy. The company has already made history by becoming the first ever stock exchange to operate inside of Somalia, with the first shares sold on 1st September 2015 at the exchange’s offices in
Garowe
Garowe ( so, Garoowe, ar, غَاْرَّوْؤَيَ, ,
Mogadishu
Mogadishu (, also ; so, Muqdisho or ; ar, مقديشو ; it, Mogadiscio ), locally known as Xamar or Hamar, is the capital and List of cities in Somalia by population, most populous city of Somalia. The city has served as an important port ...
and
Hargeisa
Hargeisa (; so, Hargeysa, ar, هرجيسا) is the capital and largest city of the Republic of Somaliland. It is located in the Maroodi Jeex region of the Horn of Africa. It succeeded Burco as the capital of the British Somaliland Protector ...
.
Historically, shares in Somali businesses have been bought and sold informally through close networks. However, economists have noted that in recent years, the emergence of various stock exchanges in African states has played a pivotal role in fostering economic and private sector growth.
The substantial demand for capital is increasing by the day for Somali businesses, consisting of both large firms and SME’s.
According to the latest figures, the capital inflow to Somalia is increasing and it is being driven by both the Somali diaspora and foreigners.
The SSE has created an new capital market, where buyers of financial securities can do business with sellers in a more organised, formal, secure and profitable way.
The aim was to create a sustainable capital market in Somalia, where holders of financial securities such as stocks, bonds and buyers or investors can meet and share in long-term growth.
Products and services
Stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
,
Bonds (
Sukuk
Sukuk ( ar, صكوك, ṣukūk; plural of ar, صك, ṣakk, legal instrument, deed, cheque, links=no) is the Arabic name for financial certificates, also commonly referred to as "sharia compliant" bonds.
Sukuk are defined by the AAOIFI ( Acco ...
),
Commodities
In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.
The price of a comm ...
See also
*
Central Bank of Somalia
The Central Bank of Somalia (CBS) ( so, Bankiga Dhexe ee Soomaaliya, ar, البنك المركزي الصومالي) is the monetary authority of Somalia. Somalia has struggled to reestablish a functioning state since the collapse of an autho ...
*
Ministry of Natural Resources (Somalia)
*
Ministry of Industry and Trade (Somalia)
Ministry of Industry and Trade is the ministry that is responsible for industry and trade in Somalia.
References
*
Government of Somalia
{{Somalia-gov-stub ...
*
Ministry of Finance (Somalia)
The Ministry of Finance ( so, Wasaaradda Maaliyadda), abbreviated MOF, is a ministry of the Government of Somalia that is charged with the responsibility for government expenditure and revenue raising. The ministry's role is to develop econom ...
*
Federal Government of Somalia
The Government of Somalia (GS) ( so, Dowladda Soomaaliya, ar, حكومة الصومال الاتحادية) is the internationally recognised government of Somalia, and the first attempt to create a central government in Somalia since the Somal ...
References
{{reflist
External links
Official Website
Organizations established in 2012
Stock exchanges in Africa
Economy of Somalia
Companies of Somalia
Economy of Mogadishu
2012 establishments in Somalia