Somaliland’s Central Bank has announced that it is taking legal action against the owner of WorldRemit, Ismail Ahmed. A statement from the Central Bank of Somaliland has indicated that legal action will be taken against the owner of WorldRemit, who is accused of making false allegations against the bank and its leadership. The Central Bank […]
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The founder and chairman of World Remit, Ismail Ahmed, has accused the Central Bank of Somaliland of printing new Somaliland shillings and releasing electronic money into the market, which has caused the devaluation of the Somaliland shilling. In a Facebook post on September 23, the chairman of the International Money Transfer urged the Somaliland government […]
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Kenya and Somalia have signed a bilateral air services agreement to open the airspace of both countries for direct flights, following months of negotiations between the authorities of the two nations.Somali minister for Transport and Civil Aviation, Fardowsa Osman Egal, and Kipchumba Murkomen, cabinet secretary for the Ministry of Roads, Transport, and Public Works, signed […]
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Somaliland infrastructure industry has received a major boost after the MSG Group of Companies and Tianjin Cement Industry Design and Research institute (Sinoma) signed an agreement to establish an integrated cement plant in the port city of Berbera. The integrated cement plant aims to meet the growing demand for cement in Somaliland and the neighboring […]
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By Nasir M. Ali, Ayan Yusuf Ali and Jutta Bakonyi Somaliland’s main port, at the city of Berbera, accounted for two-thirds of the country’s revenues in 2020. Over the years, these revenues have mostly gone into the central state coffers, while the development of Berbera has been neglected. When we visited the city for our research project […]
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By Leo Komminoth In significant news for the nearly 6m inhabitants of Somaliland, an unrecognised state located on the southern coast of the Gulf of Aden, Caafisom, a healthtech startup based in the capital city of Hargeisa, has completed a $110,000 seed investment round led by the US-based venture capital fund Tofino Capital and the locally […]
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ExxonMobil will continue the search for big new oil and gas fields that can help fund alternative energy sources such as LNG and renewables, even as the threshold for committing exploration spending gets ‘ever higher,’ the US supermajor upstream exploration chief, John Ardil, has said in an interview. ExxonMobil seeks a combination of attractive geology, […]
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Gulftainer, announced the arrival of a new container service at its Sharjah Container Terminal servicing Berbera in Somaliland. The maiden voyage of the SHASOM service began on April 17, departing from Sharjah and arriving at Berbera port after a transit time of only six days. The service rotation will be Sharjah, Berbera, Garacad, Mogadishu and […]
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By André De Bonis Somalia is making great strides in transforming its economy with the help of improved internet access. The nation is a leader in the region for internet connectivity, with internet penetration rates now at 54 percent, according to the International Telecommunications Union. With this increased access, Somali citizens are able to take […]
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DP World, the Dubai-based global port operator, is set to develop a new edible oil terminal at the Port of Berbera in Somaliland. The facility is expected to reduce supply chain costs and create local jobs. DP World has already agreed to a long-term lease for the terminal. With an initial storage capacity of 18,000 […]
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