This is a list of commercial banks in Somalia, as updated in late 2024 by the Central Bank of Somalia. [1]
Dar es Salaam is the largest city and financial hub of Tanzania. It is also the capital of the Dar es Salaam Region. With a population of over nine million people, Dar es Salaam is the largest city in East Africa by population and the sixth-largest in Africa. Located on the Swahili coast, Dar es Salaam is an important economic center and one of the fastest-growing cities in the world.
Somalia, officially the Federal Republic of Somalia, is the easternmost country in continental Africa. The country is located in the Horn of Africa and is bordered by Ethiopia to the west, Djibouti to the northwest, Kenya to the southwest, the Gulf of Aden to the north, and the Indian Ocean to the east. Somalia has the longest coastline on Africa's mainland. Somalia has an estimated population of 18.1 million, of which 2.7 million live in the capital and largest city, Mogadishu. Around 85% of its residents are ethnic Somalis and the official languages of the country are Somali and Arabic, though the former is the primary language. Somalia has historic and religious ties to the Arab world. As such the people in Somalia are Muslims, the majority of them Sunni.
Somalia is classified by the United Nations as a least developed country, with the majority of its population being dependent on agriculture and livestock for their livelihood. The economy of Somalia is $25.6 billion by gross domestic product as of 2024. For 1994, the CIA estimated it at purchasing power parity to be approximately $3.3 billion. In 2001, it was estimated to be $4.1 billion. By 2009, the CIA estimated that it had grown to $5.731 billion, with a projected real growth rate of 2.6%. In 2014, the International Monetary Fund estimated economic activity to have expanded by 3.7% primarily. This expansion was driven by growth in the primary sector and the secondary sector. According to a 2007 British Chambers of Commerce report, the private sector has experienced growth, particularly in the service sector. Unlike the pre-civil war period, when most services and the industrial sector were government-run, there has been substantial, albeit unmeasured, private investment in commercial activities. The investment has been largely financed by the Somali diaspora, and includes trade and marketing, money transfer services, transportation, communications, fishery equipment, airlines, telecommunications, education, health, construction and hotels.
Bosaso, historically known as Bender Cassim is a city in the northeastern Bari province (gobol) of Somalia. It is the seat of the Bosaso District. Located on the southern coast of the Gulf of Aden, the municipality serves as the region's commercial capital and is a major seaport within the autonomous Puntland state.
Golis Telecom Somalia, shortened to Golis, is the largest telecommunications operator in the Puntland state of northeastern Somalia. It was founded in 2002 with the objective of supplying the country with GSM mobile services, fixed line and internet services. The firm has an extensive network that covers all the major cities and more than 50 districts in Puntland.
CRDB Bank Plc is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator. As of September 2022, CRDB Bank was the largest commercial bank in Tanzania.
Hormuud Telecom Somalia Inc. is a privately held telecommunications company based in Mogadishu, Somalia. It is the largest telecommunication company and largest private-sector employer in the country, and also Somalia's first private enterprise to be internationally ISO certified.
The 2011 CECAFA Cup was an international football competition consisting of East and Central African national teams. It was the 35th edition of the annual CECAFA Cup. The tournament was hosted by Tanzania for the second consecutive year and seventh time overall.
Corruption in Somalia pertains to purported levels of corruption within Somalia's public and private sectors according to official metrics, anti-graft measures aimed at addressing those issues, as well as political dispensations and structural changes in government affecting transparency. Owing to a reported lack of accountability in the receipt and expenditure of public funds by the Transitional Federal Government, a federal Anti-Corruption Commission was put into place in 2011 so as to deter and eliminate graft. On Transparency International's 2023 Corruption Perceptions Index, Somalia scored 11 on a scale from 0 to 100. When ranked by score, Somalia ranked last among the 180 countries in the Index, where the country ranked first is perceived to have the most honest public sector. For comparison with worldwide scores, the best score was 90, the average score was 43, and the worst score was Somalia's, 11. For comparison with regional scores, the average score among sub-Saharan African countries was 33. The highest score in sub-Saharan Africa was 71 and the lowest score was Somalia's, 11.
The Ministry of Finance, 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 economic policy and prepare the federal budget. The Ministry of Finance also oversees financial legislation and regulation. Each year in October, the Minister of Finance presents the Somali federal budget to the Parliament.
Salaam Somali Bank, often abbreviated to SSB, is a Somali commercial bank. It is headquartered in Mogadishu, Somalia. SSB is one of the largest privately owned banks in the country.
The (IBS) is an IBS Bank headquartered in Mogadishu, Somalia.
The Islamic Insurance Company, also known as the FISO-TAKAFUL, is a private insurance firm based in Mogadishu, Somalia.
Tanzania Commercial Bank, formerly known as TPB Bank Plc, is a commercial bank in Tanzania. It is licensed and supervised by the Bank of Tanzania, the central bank and national banking regulator.
