The 2012 Business Confidence Survey, released this week, shows that investment in medium‐sized enterprises more than doubled between 2011 and 2012. The Somaliland Ministry of Commerce and the Chamber of Commerce, Industry, and Agriculture conducted the survey with USAID support.
“This year’s survey shows that businesses and investors are becoming more confident in the economy,” said Somaliland Minister of Commerce Honorable Abdirizak Ahmed Khalif. “We expect that their confidence will continue to grow and that investment will continue to increase.”read more
www.guulgroup.com Guul Group (GG) is operating or investing with a diverse number of companies from different industries as part of its varied and growing portfolio across Somaliland and potentially the Horn of Africa. The company is both dynamic and entrepreneurial; purposefully pursuing emerging markets with an emphasis on innovation, growth and ethos. A business that invests, continuously seeks investment opportunities, provides forward thinking services whilst striving to ensure that there is a great push for Corporate Social Responsibility. GG provides investment opportunities with the aim of bringing and working with foreign investment and strategic alliance partners on projects in Somaliland and potentially other Horn of Africa markets, which earn considerable/realistic profits for the investors through investments and projects that have a substantial potential return on investment (ROI). We are constantly looking for new ideas, opportunities and partnerships, please get in touch: growth@guulgroup.com.read more
It’s not a country recognised by anyone other than its own government, but that doesn’t seem to phase three oil companies scaling up exploration in Somaliland.
UK-listed Genel Energy and Ophir Energy, and Australia-listed Jacka Resources, are starting to explore for oil in earnest in the breakaway state, which declared independence from Somalia in 1991.
“We are embarking on the largest and most significant exploration this country has seen since it became independent 21 years ago,” oil minister Hussein Abdi Dualeh told beyondbrics from an oil conference in South Africa, hopeful the first drilling will start in 2014 following seismic surveys this year. “They are starting in a major way – it’s going to be a massive year.”read more
Somalis living in Somaliland are rightly proud of their track record on democracy over the last couple of decades. This last week has seen yet another significant milestone, with local elections passing off peacefully and with a high turnout. International observers, including representatives from Progressio (http://www.progressio.org.uk/content/somaliland ) and Somaliland Focus (http://www.somalilandfocus.org.uk/ ) have been favourably impressed by the degree of democratic engagement and minimal irregularities. Somaliland’s continuing spirit of calm, is just one of a number of reasons why economic activity has increased apace in recent years. The country’s strategic location coupled a general improvement in the international climate locally has helped foster a greater appreciation of Somaliland’s potential. Diaspora communities in the UK, USA, the Netherlands and Scandinavia, as well as Australia and New Zealand have maintained strong ties and there is increasing evidence of Somalis being eager to return to play a constructive role. Private enterprise is fast proving to be the dynamo of the economy. Mahamed Liban, the founder of Guul Group (http://www.guulgroup.com/) is typical of the bright, articulate members of the Somali Diaspora who are returning in droves, eager to share their knowledge and skills. Liban, one of an increasing number of British Somali entrepreneurs, is upbeat about the prospects for his Hargeisa-based company; “We have already been approached by a number of foreign investors, namely from Australia and the UK and Guul Group is well placed to facilitate commercial activity by drawing up on market insight, local knowledge and contacts. The company provides investment opportunities with the aim of attracting and working with foreign investors and strategic alliance partners on projects in Somaliland and potentially other Horn of Africa markets.” In common with other returning members of the Diaspora he recognizes that even as a Somali there is need for considerable readjustment; “Culture is enormously significant and so for someone who has been away for two decades, much will seem alien and so a measured approach is best.”. Liban is candid when talking about the challenges new businesses face; “…many returnees and foreigners have a distinct lack of local knowledge and market insight. It is important to remember that what might work or sell in Europe or the US will not necessarily work or sell here.” The fact that Somalis are happy to embrace new technology is an added draw and this will be further encouraged by the fact that the country is currently being connected to fibre optic cables. Economic development is well under way and there is increasing body of evidence to suggest that many foreign, Diaspora and local investors are going to achieve that thing they are all seeking, namely ‘Guul’ (meaning ‘success’ in Somali).read more
With increased economic activity throughout the Horn and East Africa the regions’ ports are more important than ever. Mombassa and Dar es Salaam are at full capacity, Djibouti is undergoing further expansion, which leaves Berbera Port the only other viable entry/exit point until the Lamu development is completed. Berbera Port sits in a very strategic location on the Red Sea and looks set to become a major port in the region for Somaliland, Ethiopia, Somalia and South Sudan. Somaliland’s government has signaled its eagerness to attract Foreign Direct Investment (FDI) projects and views the upgrading and expansion of the port as integral to the development of the Berbera Corridor. In recent years a number of companies including France’s Bolloré Africa Logistics, the Hong Kong based, Hutchison Port Holdings (HPH), and Holland-based, APM Terminals have expressed an interest in playing a role in the Port of Berbera. With the green light having been given for privation already bids are being placed with Somaliland’s National Tender Board with regard to securing the rights to manage the Berbera petroleum storage facility. Companies such as Hass Petroleum, Jet Oil and Red Sea Petroleum have already thrown their hat into the ring. The likelihood is that further interest will follow and before too long Berbera will be in a position to offer effective competition to Djibouti.read more
If has been fascinating to monitor the international media with regards to coverage of the Horn and East Africa over the last eighteen months. Assuming that editors are even prepared to give to run a story at all the stories have been depressingly predictable, ranging from stories of Somali pirates and militants, child soldiers and outbreaks of the Ebola virus in Uganda, and famine and inter-ethnic strive along the disputed border between South Sudan and its northern neighbour. The HABA region is no stranger to climatic and geo-political woes, but equally is beginning to attract serious interest as a gateway into Africa and as an emerging economic zone in its own right. Negativity and well-worn stereotypes apart, there has been a frisson of interest from those interested in hydrocarbons. Whilst thought of petro-dollars has excited some in the business press, the more discerning have noted serious investment in infrastructure along with signs of improved aviation links. IT, solar energy and livestock are all areas that look to have considerable potential. When it comes to the Horn rarely do journalists, analysts or policy makers see the whole picture, it is as if they appear to be looking at the region through colanders. For some risk, both perceived and actual risk frames every decision taken, while for others much of East Africa and all of the Horn is viewed as a forbidding terra incognito. What is required is a rational and informed approach to a part of Africa that is already proving a useful entry point into Central and Sub-Saharan Africa – HABA for its part is determined to help others to see more clearly.read more
CAPE TOWN (Reuters) – Wanted: investors for small African nation with good oil and mineral potential – no seat at the United Nations but history of independence in rough neighborhood.
The break-away nation of Somaliland is a tough sell but the announcement this week that serious hydrocarbon exploration is about to kick off there shows that oil talks, regardless of political status.
For Somaliland, an internationally unrecognised state of 3.5 million people that declared independence from Somalia in 1991, it promises to be a game changer.read more
The self-declared independent state in the north-west corner of conflict-ridden Somalia has been an oasis of calm, and it is now seeking foreign investment.
Last week’s London conference on Somalia made a nod to Somaliland, formerly a British protectorate, and the semi-autonomous region of Puntland. Without naming them, the final communique “welcomed the success in some areas of Somalia in establishing local areas of stability, and agreed to increase support to build legitimate and peaceful authorities, and improve services to people living in these areas”.read more
Somaliland Attends Africa Oil Week Conference
Sunday, 28 October 2012 07:50
“Am attending the oil conference after South Africa extended an official invitation to the government our government” Energy minister.
BERBERA (Somalilandsun) – The government is for the first time participating in the Africa Oil Week conference
During the 19th Africa Oil Week conference that starts in Cape Town, South Africa on October 31 – November 2, 2012 the Minister of Minerals, Energy & Water-MME&W Eng Hussein Abdi Duale will have an opportunity to rub shoulders with Africa and the world’s high and mighty energy players.
Eng Hussein who is to deliver a speech that pertains to national activities pertaining to the energy sector is also expected to accumulate lots of relevant contacts thus a possibility of increased multinationals exploring and drilling for oil in the country known to posses yet to be tapped high quantities of the commodity.
The various heads of state, multinational oil and gas companies and other interested parties will discuss such topics as ‘The Scramble for Africa’ and ‘Africa’s Oil and Gas Future in general while ‘The key focus include:
• Leading Corporate Players In Africa
• African Governments & State Oil Companies
• Foreign National Oil Companies In Africa
Africa s Frontier Exploration Potential
• Leading Independents In Africa
• Africa s Acreage, Bid Rounds & Exploration Potential
• Corporate Oil & Gas Players Across Africa
• Independents In Africa: New Players & Vistas
• Corporate Strategies For African E&P
• African Opportunities: Acreage & Potentialread more
Somaliland is a region in Somalia that has asserted its status as a sovereign nation, although its status is not formally endorsed nor recognised internationally. It is still viewed as an autonomous, self-governing region within the country that it belongs to. It has taken its share of the turmoil and chaos that prevailed during the Somali Civil War, but presently it has not been much affected by the war between the Islamic insurgency and the Somali Transitional Government that is now ravaging the western part of the country. However, it is now facing the threat of a breakaway state within it, resulting in recent violence. Nevertheless, the region has been known for the self-assertive spirit that has defined its people and culture. For this reason, Guul Group has embodied the independent aspirations of the region that it represents.read more
