Category Archives: Somaliland

Somaliland

Somaliland: Solar Power and Microgrid Intelligence for an Urban Power Grid

DHYBRID Technology Improves Supply Security to City and Port of Berbera Berbera (Somaliland)/Gauting (Germany), June 22, 2021. As of April 2021, the citywide power grid supplying the city of Berbera, home to the largest port in the area, is being monitored and controlled using DHYBRID microgrid technology. For this purpose, two solar plants with a […]

WorldRemit founder Ismail Ahmed launches Sahamiye Foundation to tackle Somaliland’s development challenges and unlock entrepreneurial potential

Ismail Ahmed will seek to commit $500 million of his own wealth and investments over the next 10 years to Somaliland-focused development programmes. Sahamiye Foundation will aim to double Somaliland’s literacy rate to 90% by 2023. A team led by WorldRemit founder Ismail Ahmed has today launched Sahamiye Foundation, a philanthropic organisation focused on using […]

The United Kingdom will help with renewable energy in Somaliland

African Business News

The UK-funded Energy Security and Resource Efficiency in Somaliland (ESRES) programme is giving more people across Somaliland access to affordable, clean and renewable energy. Through a phased approach, ESRES in partnership with the Somaliland’s Ministry of Energy and Minerals (MoEM) is addressing the high costs of electricity in Somaliland. The diversification of Somaliland’s energy mix, […]

Applications open for the third cycle of Innovate Ventures Accelerator in Somaliland

 Innovate Ventures (www.Innovate.so) pioneer in the Somali start-up space, has just opened applications for the next round of its Hargeisa-based tech accelerator. To date, the programme has graduated 25 startups and has invested almost $50,000 in its graduates. Building on last year’s success, this year’s program will accept 12 startups and will invest up to […]

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. H.E. Ahmed Mohamed Mohamoud, President of the Republic of Somaliland, was present at an official ceremony yesterday with Sultan Ahmed bin Sulayem, CEO of […]

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. According to the World Bank………. “The investment climate is an important determinant of a country’s success in raising investment levels. It, therefore, affects the country’s growth rate. For example, recent research on India suggests that […]

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. This year the accelerator has promised to be […]

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 […]

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 […]

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 […]

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

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. In 2012, Somalia emerged from nearly two decades of civil war. […]

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

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. It requires long-term comprehensive policies targeting macroeconomic stability; investment in infrastructure, education and health and the building of technological and entrepreneurial capacity. A well-functioning political system-one in which […]

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 […]

Somaliland: The Debate on Conventional Banking Versus Islamic Banking System

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 […]

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 […]

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. These banks, in addition to their branches inside Somaliland, have their headquarters in some other countries in […]

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 […]

‘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 […]

Counter-terrorism measures threaten money sent home by Somali diaspora, UN rights experts warn

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 […]

Artificial fish habitats along Somali coast to benefit coastal communities

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. The Fish-Aggregating Devices (FADs) consist of a floating buoy and “habitat mat” a few metres across. Plant life quickly grows under the mat, attracting large numbers […]

Conception of informational technology usage in public administration

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 […]

Africa – Trade: Sudan, South Sudan and Djibouti joins list of red countries

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. This is according to Oliver Facey, Vice President of Operations for […]