Category Archives: Somaliland

Somaliland

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.

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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.

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

muse-bihi

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.

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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.

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Somaliland: The Debate on Conventional Banking Versus Islamic Banking System

Mohammed Dahir Ahmed

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.

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Challenges Faced By Somaliland Small and Medium Sized Enterprises

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.

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Somaliland: Can Banking Competition Enhance Somaliland’s Financial Inclusion?

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.

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SOMALILAND: Regulatory Gaps in Mobile Banking Platforms

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.

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‘Anyone Opposed the Contract Must be Dealt with’ Said The Minister

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.

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Les biotechnologies agricoles au service des petits exploitants

Colloque international à la FAO du 15 au 17 février 2016

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