Kamaludin Kani Torun, Turkey’s ambassador to Somalia, said that, despite the terror threat, “we will not abandon our commitments in Somalia.”

Serious Risks Remain

Even so, research and strategic forecasting firm Maplecroft says contractors and international organizations operating in the country face an “exceptional risk environment.”

In its risk report on Somalia, the firm says, "The multiplicity of rival administrations and growing demands for regional autonomy across Somalia generate major political uncertainty for investors."

Maplecroft says there has been an improvement in security over the past two years, especially after the intervention of security forces from neighboring countries, but warns that Somalia “presents one of the world’s most dangerous operating environments.”

Despite the high risk investors face in Somalia, participants at the London conference supported the government’s pledge to tackle corruption and stabilize the country’s security. They also supported plans to set up a four-year plan to establish transparent and effective public financial management systems and fresh attempts to re-engage international financiers in reconstruction efforts.

“We welcome the re-engagement of the international financial institutions such as the World Bank, the African Development Bank, and the International Monetary Fund, including IMF recognition of the federal government,” said a communiqué at the end of the conference.