Somali government launches $10 million livestock value chain fund to transform sector

Somali government, in partnership with the World Bank through the HoA DRIVE Project, launched a $10 million Livestock Value Chain Fund (LVCF) on Thursday to transform the country's livestock sector.

Gargaara Company Limited hosted the signing ceremony at Jazeera Palace in Mogadishu. The initiative addresses the challenges pastoralists, livestock producers, processors, exporters, and traders face.

The Livestock Value Chain Fund is designed to de-risk private investment, support local productive capacities, and encourage private sector involvement in building a more resilient, sustainable, and profitable livestock value chain.

Director General of the Ministry of Finance, Suleiman Sheikh Umar, emphasized that the initiative underscores the federal government's commitment to creating an inclusive economy. He noted the fund's potential to empower the country's pastoralist communities, reduce climate vulnerabilities, and stimulate economic growth.

"The partnership with Gargaara and the PFIs will ensure that these investments reach those who need them most," the Director General added.

The CEO of Gargaara Suleiman Dualeh highlighted the fund's potential to transform the sector: "The Livestock Value Chain Fund is more than just a financial tool—it is a catalyst for transformative growth. By reducing financial barriers and providing risk-sharing mechanisms, the fund will ensure that pastoralists and businesses at all levels of the value chain can thrive and innovate."