Somalia Minister Bihi Iman Igeh named African Finance Minister of the Year 2025 at ALM Africa Summit
The award recognises his leadership in advancing Somalia’s financial reforms and managing the country’s debt relief process.
Somalia’s Minister of Finance, Bihi Iman Igeh, has been named the African Finance Minister of the Year 2025 during a ceremony at the ALM Africa Summit in London.
The award recognises his leadership in advancing Somalia’s financial reforms and managing the country’s debt relief process.
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Minister Bihi received the honour for leading major reforms that increased domestic revenue, strengthened financial governance, and improved the credibility of Somalia’s financial systems in the eyes of international financial institutions.
The organisers of the ALM Africa Summit stated that his reforms “contributed significantly to domestic revenue growth and positioned Somalia to avoid accumulating new debt while attracting grant-based development financing.”
His role in helping Somalia transition from a high-debt country to one that relies on non-debt-creating finance was highlighted as a model for other African states undergoing financial restructuring.
During his two-year leadership at the Ministry of Finance, Minister Bihi directed efforts to modernise domestic revenue systems and oversaw significant changes in public financial management.
These reforms were central to Somalia’s successful completion of the debt relief process in 2023. Since then, the country has avoided new unsustainable debts and secured more favourable financial support from partners.
The award also recognises his role in post-debt relief planning. Through new financial policies, Somalia has attracted international grant-based development financing and reduced its reliance on loans. This shift has been noted as a significant change in the country’s financial trajectory.
In his acceptance speech, Minister Bihi dedicated the award to the Somali public.
“This award is not just for me. It belongs to the Somali people, the backbone of our nation’s economic recovery. Their resilience and contribution made this recognition possible,” he said.
He also acknowledged the role of Somali entrepreneurs who have continued to invest in the country despite difficult economic conditions.
“Their determination and commitment to rebuilding our economy are the foundation of our progress,” he noted.
The ALM Africa Summit, held annually in London, brings together leaders from government, business, and civil society across the continent to recognise achievements in leadership, governance, and economic development.
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