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#81 |
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BANNED
Join Date: Apr 2009
Posts: 2,276
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The rig landed in June, the chief drilling company put its stock back on the ASX on July 27, and Africa Oil went to the ground (and was harassed) on July 26, with RR director making the statement about the new dates the same day. Everything points to the spudding actually occurring on-date. The security detail has just complicated the information process. What surprises me more isn't that we didn't hear about a spud but the reasons behind the lack of information.
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#82 | ||
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Somali Mod
Join Date: Sep 2005
Location: Kingdom Come
Posts: 24,557
Likes (Received): 431
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Some telecom news from Somaliland:
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#83 | |
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Somali Mod
Join Date: Sep 2005
Location: Kingdom Come
Posts: 24,557
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This seems Mogadishu-centric but an interesting video. There is a video provided by the link but I can't embed it as it is not a Youtube/Dailymotion video.
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#84 | ||
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Somali Mod
Join Date: Sep 2005
Location: Kingdom Come
Posts: 24,557
Likes (Received): 431
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News from Somaliland.
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#85 |
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Visualizer
Join Date: Oct 2011
Posts: 40
Likes (Received): 4
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Somalia | Business, Economy and Infrastructure GENERAL THREAD!
Hi all
I am a new, (ex-lurker) of this forum. I hope everyone are doing well. I have a general (perhaps a noob) question about Somalia's economy & infrastructure: 1) Who would invest in Somalia's infrastructure? For example, improving it's roads, building hospitals etc. As far as I am aware, there aren't a central government that could fund say a private contractor. Would the international community fund such a thing and if so, what would be in it for them? T
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Architectural visualizer & photographer |
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#86 |
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Somali Mod
Join Date: Sep 2005
Location: Kingdom Come
Posts: 24,557
Likes (Received): 431
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Welcome to the forum, T3ST!
We already had a Somali economy discussion thread going on so I merged it with the current discussion. In my opinion, it will be up to the diaspora in the beginning stages, to invest in Somalia's infrastructure, until foreign companies feel comfortable enough in the stability of the area to invest (there are projects in some areas however). They are already doing this right now, in lieu of conventional financing options through traditional finance options such as remittance services, in the form of private enterprises. Hospitals and health infrastructure is built usually in cooperation with NGOs who have operations in the country that are safe enough. |
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#87 | |
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Visualizer
Join Date: Oct 2011
Posts: 40
Likes (Received): 4
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Are there many NGOs for Somalia's roads?
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Architectural visualizer & photographer |
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#88 | ||
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RETIRED
Join Date: Sep 2010
Posts: 2,524
Likes (Received): 13
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Investment in Somalia has a myriad of positive side-effects, from providing employment, creating opportunities, to raising the standard of living, which would serve as a direct obstacle to extremism and a deterrent to outward-migration. The countries and entities I mentioned above also have economic motives for their assistance and investment, as Somalia has alot of potential for the future. Malaysia and the Gulf countries are interested in Somali live-stock, China is interested in Somali oil and fisheries, Iran and the EU have a history of importing Somali agricultural commodities, and Turkey sees a foothold in Somalia as an opening into East Africa because of the large Somali merchant network established there. With a slow return to an accountable Somali government, that can protect investments, you will see a return to the large-scale infrastructural projects of prewar times. |
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#89 |
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RETIRED
Join Date: Sep 2010
Posts: 2,524
Likes (Received): 13
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Turkcell pinpoints Libya, Somalia as expansion targets
According to Hurriyet Daily News, Turkcell, Turkey’s largest mobile phone operator by subscribers, is in the midst of formalising an approach to enter the Libyan wireless market, following the recent political shift in the country. Back in July 2009 Turkcell announced its intention to bid for a unified telecoms licence in Libya, in competition with UAE-based Etisalat. A year later, in July 2010, Libya’s General Telecommunications Authority (GTA) announced that it had refused both offers, concluding that neither proposal was satisfactory. However, Turkcell general manager Sureyya Ciliv now says that his company declined the concession due to the perceived lack of a level playing field; both of Libya’s operational cellcos Libyana and Al Madar are wholly-owned by the state via Libya Post and Telecommunications Information Technology (LPTIC). Speaking at a press event to mark the fifth anniversary of the company’s call centre in Erzurum, Ciliv told a small group of journalists that the Libyan government also sounded out Turkcell regarding the construction of a fibre-optic transmission network, but once more Turkcell declined. When questioned regarding its intentions to enter the Libyan market, the enigmatic Ciliv declared: ‘Our friends are working on the issue’. The general manager also added that Turkcell has designs on entering the Somalian telecoms sector, providing no further details. - Source |
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#90 |
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RETIRED
Join Date: Sep 2010
Posts: 2,524
Likes (Received): 13
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Ex-lawmaker lobbies to bring ConocoPhillips back to Somalia
By Kevin Bogardus - 09/18/11 06:00 AM ET A former member of Congress is lobbying to bring a major oil company back to Somalia. The Moffett Group, headed up by former Rep. Toby Moffett (D-Conn.), has been hired by the Puntland State of Somalia to encourage ConocoPhillips to reinvest in oil-rich tracts of land the company owns in the region but abandoned in 1991. "I don't want to kick the daylights of Conoco. I just want to ask them what their plans are," Moffett, chairman of the firm, told The Hill. Under the contract, his firm’s compensation is $10,000 per month, according to Moffett. The agreement lasts a year. Located on the very tip of the Horn of Africa, Puntland has been an autonomous state since 1998. Documents filed by the firm with the Justice Department say Moffett and others will represent the Puntland government before the Obama administration, Congress and other U.S. entities. “It will work towards the goals of promoting peace, security and political stability in Puntland through socio-economic development and helping Puntland benefit from its own natural resources,” the documents say. Also included with the Justice records is a June 7 letter from the president of Puntland, Abdirahman Mohamed Mohamud Farole, to Moffett. The letter says ConocoPhillips abandoned its oil exploration activities in Puntland in 1991 when the Somali central government in Mogadishu collapsed, leading to 20 years of civil war and splintered government. “The peace, security and political stability in Puntland can be sustained through socio-economic development, such as better schools and hospitals, construction of public infrastructure, light industry, and job-creation. As such, it is a matter of urgency that Puntland needs to benefit from its own natural resources, including potential oil reserves,” the letter states. The letter asks Moffett to help find “a tangible solution” to ConocoPhillips’s “inactivity” in the country. Moffett said he plans to contact Conoco to ask them about what they plan to do with their oil interests in Somalia. “It needs to develop them. Yes, we're going to have conversations with Conoco and politely ask them what their plans are,” Moffett said. “Depending on what they plan to do, they may face questions from Congress and from NGOs, asking why they are sitting on natural resources that could help Puntland when the country is struggling so.” Moffett said he is familiar with senior figures tied to Conoco. Ruth Harkin, the wife of Sen. Tom Harkin (D-Iowa), and Ken Duberstein, former Reagan White House chief of staff and chairman and CEO of the lobby firm, the Duberstein Group, serve on the oil company’s board of directors. Moffett will have a difficult case to make. Security is an issue in the region where armed gangs and pirates are prevalent and have attacked oil company officials in the past. But Moffett points to a new deal reached between leaders of several regional Somali governments, including Puntland, which is designed to put a long-lasting national government back in place. “It is not without merit, that position,” Moffett said, referring to security concerns. “I think the historic agreement is going to change that so that Puntland will be even more stable. It gives the Obama administration and U.S. companies a foundation for reexamining the situation.” - Source |
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#91 |
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RETIRED
Join Date: Sep 2010
Posts: 2,524
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Somalia: Puntland Livestock Law Being Developed
The government of Puntland State of Somalia is developing a new livestock law as part of an effort to boost livestock sector, Radio Garowe reports. A seminar organized by the Somali Animal Health Service Project (SAHSP) is being held in Garowe. Some 30 persons are attending the three-day conference, including government officials, parliamentarians, Chamber of Commerce and Industry officers, and veterinarians. Nur Ahmed Yusuf, Puntland's deputy livestock minister, told the participants that the livestock law is in draft phase and requires finalization by the Puntland parliament. SAHSP program officer Dr. Mohamed Abdikadir Jama said the purpose of the seminar was to review the livestock laws of Puntland State. The three-day seminar aims to address and discuss key issues relating to livestock, including livestock law and animal health policies. - Source |
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#92 |
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Somali Mod
Join Date: Sep 2005
Location: Kingdom Come
Posts: 24,557
Likes (Received): 431
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If Conoco went back into Somalia, that would definitely be a slam dunk as far as oil exploration was concerned. I dunno if Puntland and this former congressman can do it, but I bid them good luck.
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#93 | |
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RETIRED
Join Date: Sep 2010
Posts: 2,524
Likes (Received): 13
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#94 |
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Somali Mod
Join Date: Sep 2005
Location: Kingdom Come
Posts: 24,557
Likes (Received): 431
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The Turks are smart. A good business tactic is to go counter to the herd. While many Western companies even avoid peaceful regions due to the fearmongering sensationalism of the media, the Turks understand Somalia's potential is too great to ignore in the flurry of pessimism that clouds it.
My prediction...add the diaspora investment, burgeoning livestock deals with the Arabs, and this forthcoming investment from Turkey, the West will be shut out of the future of Somalia.
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#95 |
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Resident Guru
Join Date: Dec 2009
Location: Atlanta
Posts: 2,226
Likes (Received): 25
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I am loving the Turks.
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#96 | |
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RETIRED
Join Date: Sep 2010
Posts: 2,524
Likes (Received): 13
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Steady progress in the Communication sector:
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#97 | ||
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RETIRED
Join Date: Sep 2010
Posts: 2,524
Likes (Received): 13
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#98 |
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Somali Mod
Join Date: Sep 2005
Location: Kingdom Come
Posts: 24,557
Likes (Received): 431
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KSA wants to double Somali imports by 2013, I have read. The fact that Somalia is nearby is a big bonus. Since livestock is very important to the economy, that could be one of the things that finally could kickstart the economy as a whole.
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#99 | |
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RETIRED
Join Date: Sep 2010
Posts: 2,524
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^Indeed, though I also agree with the bolded part in the article below, the livestock sector could be transformed into a multi-billion dollar industry through various milk and meat products, more processing plants, more markets(including non-muslim countries) etc:
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#100 | |
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RETIRED
Join Date: Sep 2010
Posts: 2,524
Likes (Received): 13
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A glimpse into the future:
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