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

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SOMALILAND: Corporate Governance Is Imperative For Private Sector Development

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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. read more

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

drought in somalia

Somalia 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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Somaliland: Regulatory Gaps in Money laundering And Illicit Financing

Mohammed Dahir Ahmed

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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Somaliland: The Debate on Conventional Banking Versus Islamic Banking System

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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. read more

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

Mohammed Dahir Ahmed

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. read more

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SOMALILAND: Regulatory Gaps in Mobile Banking Platforms

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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. read more

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