Business Africa
Somaliland is seeking investors to boost trade and ultimately the local economy. The semi-desert territory on the Coast of the Gulf of Aden, declared its independence from Somalia in 1991. It is a main livestock exporter. The World Bank pegs its Gross Domestic Product at $1.9 billion. As at 2017, the population of Somaliland stands at 3.5 million.
The country has been working to secure recognition as a sovereign nation by the international community. In recent times, it has opened it doors for investors. Internationally acclaimed logistics company, DP world has pumped over $400 million to support the governments plans for diversification. We hear from my colleague Ronald Kato who spent a few days in Hergeisa and the port of Berbera. Kato speaks to Somaliland’s Finance Minister and Chief Executive of DP World about the company’s ongoing port expansion program. But how does this impact locals?
Join Ignatius Annor for this week’s edition of Business Africa.
@IgnatiusAnnorSomaliland is a gateway to many landlocked countries in East Africa.
05:02
African oil producers gather for Angola congress
Go to video
Central African raises alarm over state finances
Go to video
Kenya raises minimum wage by 12% as inflation soars
01:44
Tanzania showcases touristic and investment potentials in the US
02:30
Small-scale farmers take over Rwanda’s biggest tea factory
02:05
Somaliland market fire: UN team dispatched to back needs assessment