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Category Archives: Somaliland
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.
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.
Written by Mohammed Dahir Ahmed
One of the somber challenges faced by Somaliland private sector is access to finance regardless of its form-Islamic or conventional. In a survey done by the World Bank, 48.8 percent of the firms surveyed in Somaliland indicated that access to finance as the number one constraint as far as doing business is concerned compared to a world wide average of 16.9 percent. It is a well documented fact that access to finance creates innovaton, job creation and growth. In Somaliland, formal and regulated financial services are almost non-existent, neverthless informal and unregulated financial services exist.
In Somaliland, the small and medium enterprise (SME) sector is the biggest income and employment generator. It hosts thousands of people and is the largest business sector. SMEs that trade in clothes, food, agricultural products, consumables, gold, beverages and fruits are visible on the streets of every city and town of Somaliland. And these traders support families who may find it difficult to get alternative sources of income.
The financial services sector in Somaliland is presently dominated by the remittance business, which offers such services as well as checking accounts. However, several banks have obtained licenses from the Somaliland Central Bank, under the Islamic Banking Act.
Somaliland is one of the leading markets of mobile banking platforms in Africa. It has been acknowledged by renowned individuals, such as Bill Gates of Microsoft, and international finance and development institutions, for its innovation and customer reach. It has made easy payment systems for goods and services. It is also free, unlike in most other countries.
Somaliland’s contractual agreement with DP World faced resistance from stakeholders in Berbera seaport who used to run the port for their own mood for the past decades. Somaliland authority received $ 15 millions in advance from DP World according to the Finance Minister Samsam. But it could more than that. “Anyone rebels the deal is considered to be allied with Somalia (referring the unionist Regime of Somalia)” said Ali Shoombe. The government can’t imagine to drop the deal for its high liquidity, the largest amount of cash receipt ever in Somaliland’s history. Verbal attacks exchange on TV screens between proponents and opponents of the deal for financial benefit and loss respectively might lead Somaliland to brutal war between the tribe of the president and Berbera port town dominant tribe of Ciise Muse but the any conflict may affect the entire region . There’s growing fear of sleeping Al-Shabab cells in Somaliland may take advantage much like Somalia.
Colloque international à la FAO du 15 au 17 février 2016
The vital flow of remittances from diaspora countries into Somalia is under threat as a result of necessary, but inadequately thought-through counter-terrorism measures. United Nations human rights experts have warned that the measures risk severely affecting the human rights of the people of Somalia, and have urged the governments of the United States, the United Kingdom, Australia and Somalia to ensure that such remittances continue to flow.
FAO, working with the European Union, has just completed the deployment of 25 “fish magnets” along Somalia’s 3,300-km coastline, a move that will boost the nation’s small-scale artisanal fisheries.
La sécurité alimentaire s’aggrave dans les zones victimes de troubles civils et de conditions météorologiques défavorables
La corruption gagne du terrain et les gouvernements sont impuissants à enrayer le phénomène, d’après le sondage d’opinion mené en Afrique
Transparency International estime que 75 millions d’Africains ont versé un pot-de-vin au cours de l’année dernière
La Chambre de Commerce de Dubai présente un rapport sur les secteurs autres que ceux des matières premières lors de l’Africa Global Business Forum
Le co-investissement avec des fonds de capital-investissement, l’achat de sociétés de capital-investissement et les rachats directs constituent les principaux modes d’entrée des IDE pour les investisseurs du Golfe intéressés par l’Afrique subsaharienne
The core of informational technology usage conception in public administration is all about Joint Information Center and public communication supervision and an interaction logging that is held by information management system. The system includes automated online rating of particular public servants and managers and whole state agency. All citizens’ unfilled requests escalate to the superior level of public administration until dispute would be settled. This conception enables marketing of public communication on the state level.
Globally, the increased concern around public safety has resulted in the intensification of security measures for transportation of goods internationally. Businesses which trade internationally need to be aware of the security measures in place to mitigate the risk to their operations and their people.
The African continent is crossed by five trends: demographic change, urbanisation, technological changes, the transfer of economic power and climate change
One of the key factors in developing socially oriented state might be usage of information technology. Is it really possible to change people life for a better one by using these means? The answer can be found in this article.