In a major milestone reflecting Somalia’s economic progress, the Somali Finance Minister Behi Iman Egeh was honored with 2025 African Finance Minister of the Year award.
The recognition was presented by African Leadership Magazine during its annual Africa Summit held yesterday in London.
Who Is Somali Finance Minister?
Behi Iman Egeh (Somali: Biixi Iimaan Cige) is a seasoned Somali politician and economist who has served as the Minister of Finance since July 2023.
He represents Hargeisa constituency in the Federal Parliament and previously held the post of Minister of Labour and Social Affairs.
He holds a master’s degree from St Antony’s College, Oxford, and is known for his technocratic approach to governance.
Impact of Minister Behi Iman Egeh Leadership
Under Egeh’s stewardship:
- Somalia’s debt-to-GDP ratio dropped from 64% in 2018 to below 6% in 2023.
- Domestic revenue grew by 87.77%, now covering over 80% of government operations.
- Over 20 economic laws and 10 regulatory frameworks were passed, including reforms in banking, taxation, insurance, and anti-money laundering.
- Somalia launched the National Payment System and Instant Payment System, improving financial oversight and international banking relations.
Why Did Somali Finance Minister Win 2025 African Finance Minister of the Year Award?
This accolade acknowledges the minister’s pivotal role over the past two years in modernizing Somalia’s financial system.
Behi’s key achievements include:
- Securing international debt relief in 2023
- Digitized the national budgeting system
- Modernized tax regulations to expand revenue
- Strengthened anti-corruption strategies
- Fostered partnerships with IMF and World Bank
These reforms have enabled Somalia to receive donor funding without relying on new loans, cementing Behi’s reputation as one of Africa’s most prominent financial leaders.
Somali Finance Minister Remarks: A Tribute to the People
In his acceptance speech, Minister Behi expressed gratitude to the Somali people and the business community, describing them as the backbone of the country’s economic recovery:
“This success and recognition belong, above all, to the Somali people—the cornerstone of our development—and to entrepreneurs who kept building despite the odds.”
Minister Egeh’s work is widely seen as a blueprint for post-conflict financial recovery in Africa.
His emphasis on fiscal discipline, institutional integrity, and inclusive growth has positioned Somalia as a rising model of reform.
