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The Somalia NGO Consortium promotes information sharing, cooperation and joint advocacy initiatives amongst local and international NGOs working in Somalia and Somaliland through the following activities:

Provides a forum for and actively supports members to promote dialogue, collaboration, learning experiences and information exchange

Regularly shares information collectively and advise NGOs bilaterally

Represents Consortium members to governments, UN agencies, donor groups, and multilateral organisations at local, national, and international level.

Facilitates and supports advocacy initiatives, including raising public awareness of programming in Somalia, on behalf of the membership

Ensures synergy of Consortium objectives and activities with the NGO Safety Programme (NSP), providing specialised, coordinated and focused security management support to reduce risks posed to personnel and assets

Recent News

Two Prominent Banks from Kenya take first steps to enter Somalia
The Somalia’s Central Bank governor Bashir Ali was reported as saying that two local banks are among 12 international lenders that have applied for licences to operate in Somalia.Ali said that Kenya Commercial Bank (KCB) and Commercial Bank of Africa (CBA) are seeking to set shops in Somalia, although the country has aced a two-year moratorium on licensing new banks to enable the financial and banking systems stabilize.Others are from the gulf region.

 According to Ali, Only six banks currently operate in Somalia, whose security situation has improved in recent years. He assured those eyeing the market that the stay on licensing new banks will be lifted once the situation improves further.New entrants will however not be allowed to operate solo but will instead open subsidiaries in partnership with local investors or the existing banks.

He was speaking on Friday when the bank received $2.5 million (Sh250 million) from a group of donors including the World Bank to set up a robust IT platform. The platform known as the Financial Accounting Controls and Transaction System is being implemented by consultant Sofgen, which has also set up IT systems for various lenders in Kenya.It is geared at helping the Somali Central Bank play its roles effectively to ensure the country's economic stability and growth.Other major projects being undertaken by the Somali Central Bank comprise of creating a sound financial system including formalizing currency exchange and introduction of an anti-money laundering bill, which is expected to improve investor confidence.

Somalia does not yet have a monetary policy; a matter Ali said will be addressed once the government starts printing its own currency.The World Bank said the new IT system will enable the Central bank of Somalia take on its role of being a provider of payments and banking services to the government, local banks and issuing local currency.

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Who, What, Where

Africa

Get up to date information about programmes running in Somalia by viewing our Who, What, Where map.

The interactive WWW map tracks operational presence in Somalia, and is meant to increase cooperation and coordination between the Consortium members and other organisations.

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