A most interesting regional development is Somalias bold pitch for trade and economic co-operation. There is a huge potential that Kenya and Somalia can exploit for mutual benefit from trade and investment. However, there is one major hitch: Terrorism.
Kenya, the East African Community (EAC), the African Union (AU), the United Nations, public and private organisations have played key roles in helping to restore peace, law and order and a stable internationally recognised government in Somalia. It has come at a huge cost as a large part of Somalia is still under the control of the Al-Shabaab terrorist group.
Sharing a largely porous 900-kilometre border with Somalia is a challenge that can be harnessed for mutual gain. Somali PM Hamza Abdi Barre is wooing investors. Mogadishu has given the green light to foreign investors to wholly own businesses there. Somalia is promising to lift trade and investment restrictions and enhance security.
Mwaura: The rise of sponsored content and why readers should pay attention Mathiu: You knew the storm was comingThe Invest Somalia Conference Expo 2024 in Mogadishu, organised by the Ministry of Planning, Investment and Economic Development, Somalia Investment Promotion Office and the Nation Media Group, is a great initiative. Its theme is Somalia, New Frontier for Entrepreneurship and Investment.
The PM is inviting investors to seize the moment and do business with Somalia. The admission of Somalia into the EAC last year has opened investment and trade opportunities for the region. It is the latest entrant after South Sudan and Democratic Republic of Congo, joining Kenya, Uganda, Tanzania, Rwanda and Burundi to create a vast market.
Somalia is quite promising. The World Bank has noted a promising growth rate, rising from 2.2 per cent in 2022 to 2.8 per cent last year and a projection of 4.8 per cent by 2028. Its conflict and instability are major challenges that must be addressed to tap the vast potential for regional co-operation.
Succession row leaves rich Moi kin broke Jonathan Mois widow made a public appeal, asking well-wishers to donate money for her sons treatment. Floods update: Why deadly uplands floods cause panic in coastal counties Tana River has experienced little rainfall but flash floods have displaced many families. No Love, no union: Court grants divorce on grounds of lost feelings A marriage where love and feelings have gone out the bedroom door is considered broken - Judge.
