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Yusuf Sodal - (IBS Bank)

Yusuf Sodal is an SME banking and entrepreneurship development professional based in Mogadishu, Somalia. He currently serves as Head of SME Banking at IBS Bank, where he works closely with small and medium-sized enterprises on access to finance, business growth and financial inclusion. Yusuf has over a decade of experience across banking, administration, finance, teaching and entrepreneurship support. He is also active in youth entrepreneurship training and business development, helping early-stage entrepreneurs understand opportunity discovery, market validation, business models and finance readiness. His work focuses on strengthening Somalia’s SME ecosystem by connecting practical business advisory, digital financial services and inclusive growth. Yusuf holds an MBA and a BSc in Banking and Finance from SIMAD University, and is a Certified Islamic Banker through CIBAFI. 

Beyond registration: Why does formalisation matter for Somalia’s small businesses? 

07 September 2026 Yusuf Sodal - (IBS Bank)

Reading Time: 3 minutesFor small businesses, formalisation should not feel like another administrative burden. Done well, it can become a route to trust, finance and growth. In Somalia, informal shops and traders keep economies alive daily; so, are we formalising for paperwork, or to really help entrepreneurs succeed?

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