NAIROBI – Somaliland government, through its Liaison office in
Nairobi, will on Friday hold a major investment conference in the Kenyan
capital to woo investors to the Horn of Africa nation. Somaliland is targeting top Kenyan and East African investors to
Hargeisa and Berbera, the two big cities in the country which the
government says are ripe for foreign investment.
The conference is also aimed at pushing for the Somaliland agenda for international recognition.Top leaders from the Kenyan and Somaliland governments will grace the
day long investment forum which will be used to showcase the investment
opportunities available in Somaliland.
The Somaliland Liaison office in Nairobi is also working closely with
the Kenya Private Sector Alliance to woo Kenyan investors to
Somaliland.
This will be the biggest investment forum to be staged by the
Somaliland government in Africa. A similar forum has previously been
held in London.
“We want to use the forum to open up Somaliland to Kenyan and East
African investors,” Bashe Omar, the Somaliland envoy to Kenya said.
“There are so many areas we can work together with Kenya and East
African countries. We are looking to have Kenya export its commodities
to Somaliland and we also exports our livestock to Kenya,” he added.
“The cooperation between Kenya and Somaliland will see trade between
the two countries grow. We will also work on improving security in the
region and empower the hundreds of thousands of youth some of who are
looking for opportunities to invest or further their education,”
observed Bashe.
Direct flights between Nairobi and Hargeisa
Somaliland is also seeking to have direct flights between Nairobi and
Hargeisa which according to Bashe will increase trade and interaction
between citizens of the two countries. Kenya Airways has already shown
its willingness to fly to the Somaliland capital.
Kenya and Somaliland are expected to sign a Memorandum of
Understanding that will open up trade between the Berbera Port
(Somaliland) and the Port of Mombasa.
Over 18,000 Kenyans live and work in Somaliland with almost a similar
number of Somalilanders living and doing business in Kenya.
Somaliland, which has claimed autonomy from the main Somalia
government, is on a mission to initiate relationships with regional
states as it pushes for recognition at the African Union and the United
Nations.
Former Kenyan Prime Minister Raila Odinga who has led the push for
Kenya to recognize Somaliland as an independent state is expected to
grace the conference. Odinga is among many Kenyans who have called for
the government to recognise Hargeisa arguing Somaliland would help
stabilize the region.
Global investors
Somaliland is equally attracting leading international companies with
the likes of Coca Cola and Western Union already establishing
franchises. DP world in October launched a US$442 million campaign to
revamp the Berbera Port.
International analysts say this sort of activities will promote
investment interest and business confidence in the region. The
Somaliland government also says a French bank in the neighbouring
Djibouti will soon open an office in Hargeisa.
Like Kenya, Somaliland is a former British protectorate that gained
independence June 1960. It later unified with the Trust Territory of
Somalia (the former Italian Somaliland) forming what became known as the
Somali Republic.
However, the union collapsed in 1991 following two decades of
internationally-hidden civil war that left more than 50,000
Somalilanders killed. In May 1991, Somaliland declared the restoration
of its sovereignty however it has not yet managed to regain
international recognition. Somaliland has already forged a range of
commercial relationships and has been afforded observer status by the
Commonwealth.
Other speakers during the investment forum will be Kenya trade
minister Peter Munya and Mohammed Hassan Saad, the minister for Commerce
and Industry of Somaliland.
Somaliland boasts of several international companies owned
by indigenous Somalilanders among the Africa’s leading money transfer
company Dahabshiil.
By Odindo Ayieko/Buisweek.
No comments:
Post a Comment