Browsing: Somaliland

For survival, businesses need to guard against the negative effect of the elections by geographically diversifying their revenue streams. Revenue streams from different sources could help balance fluctuations.

While not all businesses are able to this, there is the need to come up with plans to cushion their businesses.

In order to plan effectively, it is critical to first assess the threat at hand. Some firms, such as those that provide critical goods and services, may be less adversely affected than others. A company’s sales may actually grow during election time especially for those working in the printing sector since they can produce campaign materials like posters and t-shirts. …

The construction of the $400 million Berbera corridor is set to boost trade links between Somaliland and Ethiopia.

The project once complete will link Ethiopia’s border town of Togochale to Berbera Port in Somaliland. The Abu Dhabi Fund for Development is funding the roads projects.

Muse Bihi Somaliland president opened the first completed 12-kilometre phase of the project which is the second major infrastructural project Somaliland is building after the expansion of the Port of Berbera by the Dubai Ports World (DP World).

Somaliland imports to Ethiopia is estimated to be worth over $800 million annually and the Berbera-Togochale corridor will be instrumental in facilitating import-export trade for Ethiopia’s economy.

“We are here to open part of the Berbera Corridor, which is a 12 KM stretch that has been completed. I would like to point out that this road is different from the earlier road which was built to handle …

Somaliland economic growth is on the rise despite the country’s unique economic constraints.

Somaliland President Musa Bihi during his annual address to the nation, said in fiscal 2019 its revenue increased by 4.5% which shows the efforts and capabilities of the National Revenue Authority.

“The economy is the basis for the development and transformation of life and society in every country. Therefore, the government is focusing on the development of the Republic and the promotion of the national economy,” Bihi said.

“The GDP growth rate in the UK has increased by 2% in the last two years, whereas the economic growth in Africa is estimated at 3.4% in 2019 by the United Nations. This indicates that Somaliland’s economic growth is on the rise, despite the unique economic constraints of the Republic of Somaliland.”

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President Bihi said that in 2019, his government …