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Promoting Business and Investment in Somalia
On Saturday, April 13, 2013, Transparency Solutions and Shuraako co-hosted a meeting on ‘Promoting Business and Investment in Somalia’. The meeting brought together a large number of representatives from the Somali diaspora community, investors, and other stakeholders who are committed to investing in Somalia’s future.
The conference was hosted at Toynbee Hall in London, UK and included speakers from Transparency Solutions, Shuraako, the Dahabshiil Group, and the Horn of Africa Business Association. The panelists spoke about the current positive momentum for Somali economic development.
Somalia has made significant progress in stability and security in recent months, and with the election of its first President in over 20 years in September 2012, is tipped by many to hold great promise for business, investment, and economic development. In light of the tragic recent Mogadishu bomb attacks on Sunday April 14, the need for improved economic opportunities, jobs and prosperity is more pertinent than ever.
To that end, Transparency Solutions launched a new and innovative financing instrument for Somalia, Somali Star Investment. The product, which will be available for the Somali diaspora to invest in later this year, promises to be a crucial economic development and job-creating tool for the region.
Sharmarke Jama, Managing Director, Horn of Africa, Transparency Solutions, stated, “Somalia is the land of opportunity right now. We need to work on building on that optimism, and overcome the challenges for investing in the country for both Somalis and foreign investors alike”.
Maurice Janssen, Shuraako Program Director said, “We see an incredible amount of momentum in Somalia right now. Shuraako’s role is to work with partners to promote and support investment into these promising business models in Somalia”.
On 7 May 2013, Prime Minister David Cameron, and Somalia President Hassan Sheikh Mohamoud, are co-hosting an important conference on Somalia, which will bring together multiple high-level representatives to work together on re-building Somalia, after two decades of conflict and instability.
Shuraako is a self-funded, non-profit initiative working to promote investment into promising business models and social enterprises in Somalia. Shuraako believes that job creation fosters stability and peace, and is the key to rebuilding Somalia. Shuraako works as a neutral broker to support connections and coordination between various stakeholders, including investors, businesses, governments, markets, and the Somali diaspora. Started in 2012, Shuraako is a program of the One Earth Future Foundation with staff in the United States and Somalia.
Transparency Solutions (TS) work at the interface between the private sector, government and international agencies; and communities in need. Established in 2001 with offices in the UK and the Horn of Africa; key partnerships with both private and public sector stakeholders and groups in the UK, Europe, USA and East Africa they provide creative solutions to local, national and international concerns. Somali Star Investments (SSI) is a division of Transparency Solutions and was established with the business grant support of USAID Partnership for Economic Growth.
More information on the event and the other work of both organisations can be found on their websites www.shuraako.org and www.somalistarinvestments.com
For any other information on the conference, please contact:
Anna Bowden, Shuraako at firstname.lastname@example.org; or Sandra McNeill, Transparency Solutions at email@example.com.