2nd Somaliland-Kenya summit on investment happens in Nairobi

The ministry of foreign affairs and international cooperation in conjunction with Somaliland liaison office in Kenya has organized Somaliland-Kenya Summit on Infrastructure, Energy and Extraction Industries.

The conference is aimed to open up Somaliland doors for investment and businesses to venture into the country.

The conference started in Nairobi on Thursday, where Somaliland government stated that the country was lagging behind in several areas such as poor in energy consumption per capita, public capital stock per capita and exploitation of mineral resources which provides a rich seam for investors.

The conference brought together leaders and local Somaliland investors, Kenya Private Sector Alliance, officials from the ministries of mining and petroleum in Kenya, officials from the DP World, Africa Development Bank and several other foreign investors.

Somaliland finance minister Dr. Saad Ali Shire said that there are tremendous opportunities in the generation, transmission, and distribution of electricity from conventional and renewable resources.

He added that there are also opportunities in urban water infrastructure, waste management systems, roads, ports, airports, social housing, and high-end health care infrastructure,” he added.

These he said required foreign input for Somaliland to achieve its long term development goals and build partnerships in the region and beyond.

Minister Sa’ad promised that the government will provide the right environment for foreign investment to thrive.

Federico Banos-Linder, Vice President of External Relations of DP World said once the port is done, Somaliland will be one of the biggest players in the maritime industry in the Horn of Africa.

He added that the Port is now far much better in terms of accessibility and level of competitiveness. Once other infrastructures like roads are completed, it will be the best gateway for products to Ethiopia.

Jamal Aideed Ibrahim, the chairman of Somaliland Chamber of Commerce and Industry said improving infrastructure should be the government’s key agenda if it is to attract investors.

Somaliland envoy to Kenya Bashe Omar said his office will facilitate investors willing to venture into the country.

He said with regional integration and the world becoming more connected, Somaliland’s strategic location along the mouth of one of the busiest shipping lanes in the world and the red sea route meeting the Indian Ocean offers a huge opportunity for investment and hence the conference in Nairobi.

Other speakers included David Stanton, Director General of Trade Mark East Africa, Eric Labee, Africa Representative of Boskalis and Amb. Johnson Weru, Director of Economic Affairs and Communication Diplomacy of the Ministry of Foreign Affairs of Kenya