Category Archives: Somaliland

Somaliland

Government of Somaliland and DP World Celebrate 30-Year Concession for $442 Million Port of Berbera

The Government of Somaliland and DP World Group of the United Arab Emirates have celebrated a 30-year concession to develop and manage a multi-purpose port in the commercial capital of Berbera. read more

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Somaliland: Foreign Investment Law Analysis

Somaliland has in abundance investable natural resources such as minerals, oil, marine resources, frankincense, livestock, and various other raw materials. read more

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Innovate Ventures Re-Runs Successful Tech Accelerator for Somali Start-ups

Innovate Ventures (Innovate.so) is running for a second year their highly successful tech start-up accelerator – The Innovate Accelerator. Launched in partnership with VC4A (https://VC4A.com), Telesom and Oxfam as part of Work in Progress! project, Innovate Accelerator saw over 180 applications submitted for last year’s inaugural cohort. read more

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SOMALILAND: Corporate Governance Is Imperative For Private Sector Development

The private sector is the backbone of Somaliland economy and the biggest employment generator. However, it has inherent limitations which limit its potential to expand and pool together capital in the form of shareholding. The Majority of Somaliland businesses are sole proprietorship, family owned and partnerships. There are few shareholding companies, who operate on the basis of mutual trust rather than systematic corporate governance frameworks where the rights of shareholders are protected. It is time that Somaliland private sector should operate in a formal framework where operations and investment are not only done on individual trust and clan linkages but internationally accepted formal corporate governance frameworks. read more

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Will Piracy Return In The Gulf of Aden And The Indian Ocean?

Piracy in the Gulf of Aden and Indian Ocean started in 2005 by Somalia pirates and reached its climax in 2011 when they have attempted to hijack 237 vessels and at year’s end, seized 11 vessels, keeping a total of 216 people as hostages. At the time pirates used to make on average 2 million dollars for every ship seized and ransomed. read more

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Somaliland: Fools Rush Where Angels Fear to Tread

By Mohamed Ahmed Abdi Ba’alul.

No one thinks that he would live enough to see when our peace-makers turn in to trouble-makers.  The upper house of parliament, has no longer most privileged members, or engaged in its hot debates on issues affecting the lives of ordinary citizens. It’s effective, peace-making dispatches to remote hinterlands are not visible in the headlines, despite of recurring inter-clan hostilities. If they were once the symbol of security, consensus, and the glue that holds Somaliland together, today the reality tells you a different story. read more

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IMF Report Indicates Drought in Somalia will decelerate Economic Activities in 2017.

drought in somaliaSomalia has marked important milestones in rebuilding its economy and normalizing relations with international financial institutions, over the past five years. However, IMF’s 2016 IV consultation shows that impact of drought in Somalia will decelerate its economic growth from 3.4 percent to 2.5 percent. read more

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Muse Bihi: Somaliland’s Business and Investment Friendly Presidential Candidate

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According to the World Bank; Promoting a well-functioning, competitive private sectors is a major undertaking for any government, especially for one with limited resources and technical capabilities. read more

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Somaliland: Regulatory Gaps in Money laundering And Illicit Financing

Somaliland is a small nation in the Horn of Africa with a population of around four million inhabitants. Its economy is dependant on Diaspora remittance and livestock export to the Arab gulf countries. It has an infancy stage banking and financial services industry dominated by remittance business. As a result of anti money laundering regulations in the remittance originating countries in  North America and Europe, remmitance lifeline to Somaliland is always at risk of disruption unless local regulatory environment and anti money laundering fighting mechanisms are installed and applied rigorously. read more

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