Sabti – Khamiis 08:00 – 17:00 waqtiga maxalliga
Sabti – Khamiis 08:00 – 17:00 waqtiga maxalliga
The MoCI’s mandate, reinforced by the Somalia Companies Act 2019, transitions the private sector from informal networks to a structured, transparent economy.
Formalization: Mandating that all SMEs register through the Somali Company Registry to obtain a unique Business Identification Number (BIN).
Verification (KYC): Enforcing “Know Your Customer” protocols to verify shareholders and directors, ensuring businesses are not involved in illicit activities.
Operational Oversight: Monitoring whether businesses are active in the sectors specified in their licenses (e.g., ensuring a “Trade” license isn’t being used for “Manufacturing”).
Governance Standards: Setting requirements for financial reporting and board structures, which is a prerequisite for Gargaara’s MSME financing.
