Archive for the ‘Somalia’ category
Economic progress does not just depend on having impressive numbers of GDP growth, high-rise buildings or first-class highways.
Instability in South Sudan could negatively affect foreign investment and economic growth in the region.
“The biggest challenge is everyone wants to be involved in the project. There aren’t enough jobs to go around.”
Canadian oil company raises funds to drill wells in Kenya and Ethiopia.
Fairwaves’s small base station enables mobile phone users in unconnected regions to make calls within a 10km radius.
Somalis living abroad are now returning home and taking up opportunities to rebuild their country.
While oil finds are expected to bring wealth, infrastructure, political and corporate challenges need to be overcome.
“Home is the best. If you don’t build your country, no one else will build it, that is why I moved back to Somalia.”
A Kenyan entrepreneur saw a gap in the market and turned it into a successful business.
“It would be much easier to be employed, get paid at the end of the month and go home. But then you don’t have much freedom.”
“Tourism is fickle. But it is still the biggest contributor to the GDP in this country.”
Soma Oil & Gas is the first company to sign an oil deal with the new Somali government.
The Somaliland Development Corporation looks to bridge international investors and local community interests in Somaliland.
For millions of unemployed yet tech-savvy youth across Africa, increased connectivity is bringing tremendous opportunities.
“Somalis are by nature entrepreneurial, which explains the recent increase in investment in Mogadishu and other parts of Somali territories.”