Somalia will relaunch Somali Airlines after more than 30 years, with Transport Minister Mohamed Farah Noor saying the national carrier will enter its final operational planning stages soon. The government will establish a management board, secure international partners and acquire Airbus A320 aircraft expected to begin service once preparations are complete. The revival will build on major aviation reforms, including restored airspace control, upgraded airport standards and progress toward reintegrating Somalia into global aviation systems.

Somalia’s Ministry of Fisheries launched a project to modernize fisheries infrastructure and strengthen the maritime economy in partnership with Japan and the UN Food and Agriculture Organization. Officials said the initiative will expand services for marine resource management and improve monitoring systems to reduce illegal fishing. The project also aims to increase productivity and market value for coastal communities by enhancing processing capacity and supporting sustainable economic activities within the blue-economy sector.

China provided $1 million to strengthen Somalia’s disaster-management operations, with the funds directed to the Somalia Disaster Management Agency. Officials said the contribution will support early-warning systems, logistics planning, and the deployment of response resources. The visit also highlighted ongoing technical cooperation, including training programs for SoDMA staff and China’s involvement in constructing state-level centers and warehouses. Authorities said the support enhances institutional capacity and improves operational readiness for climate-related disruptions.

The Central Bank of Somalia has inaugurated its first financial stability committee to strengthen macroprudential oversight and safeguard the resilience of the country’s financial system. Governor Abdirahman Mohammed Abdullahi said the committee will identify risks and coordinate policy responses. Its priorities include advancing currency reforms and integrating money transfer businesses into the national payment system. The committee reviewed the 2024 Financial Stability Report, noting banking assets of $2 billion and profits of $9 million.

The IMF has approved an additional $40 million financing package for Somalia after completing the fourth review of its Extended Credit Facility program, releasing $30 million immediately for budget support. The Fund said Somalia continues to perform strongly despite declining aid, climate shocks and fiscal pressures. Authorities plan to expand social spending in 2026 using domestic revenue, while ongoing reforms in revenue administration, financial oversight and governance continue to strengthen economic stability.

Turkey intends to start offshore oil drilling in Somalia in 2026, based on seismic surveys conducted by the Oruc Reis research vessel. Energy Minister Alparslan Bayraktar said the findings will shape drilling plans in deep-water areas and onshore blocks covered under bilateral agreements. Officials acknowledged infrastructure and security constraints, including the need for new access roads. Turkey continues to broaden its economic footprint in Somalia through energy partnerships and long-term investments.