The President of the Federal Republic of Somalia, Hassan Sheikh Mohamud, has officially inaugurated the Banadir Steel Factory, a major new industrial facility specializing in the production of reinforced steel bars used in construction.
The factory utilizes recycled scrap metal, marking a significant step toward sustainable industrial development and local manufacturing in Somalia.
During a tour of the factory’s production units, President Hassan Sheikh underscored the government’s commitment to supporting Somali investors who are contributing to national reconstruction and economic revival.
He emphasized that industrialization is key to job creation, import substitution, and economic self-sufficiency.
“I want to commend the young Somali entrepreneurs who have invested in their homeland and created over 400 direct jobs. Factories like Banadir Steel and other major projects emerging across the country represent a new chapter for Somalia’s economic independence. We want to see more members of our diaspora returning home to invest, so that we can reclaim what we lost over the past 30 years,” said President Hassan Sheikh.
He further urged investors to focus on innovative ventures that address local needs and promote long-term national growth.
The President stressed the importance of maintaining workplace safety standards, ensuring high-quality production, and fostering sustainable industrial practices.
The Banadir Steel Factory is expected to play a pivotal role in meeting the growing demand for construction materials within Somalia. By utilizing locally sourced scrap metal, the factory not only reduces reliance on imports but also contributes to environmental conservation through recycling.
President Hassan Sheikh reaffirmed his administration’s vision of building a self-reliant economy based on domestic production, youth employment, and private sector empowerment.
He highlighted the government’s readiness to facilitate investment opportunities, remove bureaucratic barriers, and create a conducive business environment that supports Somali entrepreneurs both at home and abroad.
The inauguration of Banadir Steel marks a milestone in Somalia’s industrial recovery drive — signaling progress toward economic diversification, sustainable manufacturing, and national self-sufficiency.