Somalia’s tourism ministry said visitor numbers are increasing despite ongoing security concerns, with around 10,000 tourists recorded last year and projections suggesting the figure may double in 2025. Officials said improved surveillance, roadblocks, and policing have reduced attacks in Mogadishu, encouraging more guided visits to key sites such as Lido Beach. Tourists from countries including China, the United States, and Turkey formed the bulk of arrivals as the sector works to rebuild confidence and expand services.

Somalia’s Finance Ministry has warned of rising fiscal risks as new data shows only 3% of the national economy is currently taxed. Finance Minister Biixi Cige said domestic revenue remains far below sustainable levels, noting that the federal government does not directly receive taxes collected by federal member states. Despite an 80% rise in domestic income over three years, the minister said a unified tax-sharing framework is urgently needed to stabilize public finances and reduce aid reliance.

Hormuud Telecom was named Telecommunications Company of the Year at the AfriSAFE Africa Safety Congress 2025 in Mombasa. Organizers cited the firm’s workplace safety systems, employee training programs and community initiatives, noting it is the first private Somali company to secure international ISO certification. Founded in 2002, Hormuud is Somalia’s largest telecom operator and also runs the Hormuud Salaam Foundation. Company officials said the award reflects its continued investment in operational standards and service delivery.

Somalia’s petroleum minister, Dahir Mohamed, said international energy firms, including companies from the United States, have shown increased interest in the country’s offshore oil prospects as Mogadishu prepares to release new exploration results. He noted that U.S. independents such as Coastline Exploration and Liberty Petroleum are operating under existing agreements, alongside Turkish-led surveys. The minister also warned against unlicensed mineral extraction, saying the government will enforce regulations as it seeks to attract more regulated investment.

Mogadishu is experiencing a sharp increase in construction activity, with local officials reporting more than 6,000 new buildings completed in five years. Developers cite rising investor confidence, supported by improved urban security measures and expanding access to finance. Banks and diaspora capital continue to play a major role in funding real-estate projects, while demand for commercial and residential space grows. Analysts note increasing investment in real estate, fintech, trade and infrastructure across the capital’s expanding market.

Norwegian company TGS renewed its data marketing and licensing agreement with the Somali Petroleum Authority, extending rights to market over 46,000 km of 2D seismic data and more than 50,000 km of aeromagnetic surveys. The company said the renewal supports Somalia’s offshore licensing efforts by providing essential geophysical datasets for exploration screening. The move comes amid rising international interest in Somalia’s offshore basins, with several global firms conducting surveys and early-stage assessments.