According to the NY times article listed below, this is the time to invest in the Somali capital, Mogadishu. The country is finally in peace; people can walk in the streets. The interest rate is low, and corruption is not an issue, as it was before. Somali citizens that live in other countries are now returning, finally the situation at home has improved. These citizens are bringing money with them, and being entrepreneurs, investing in new businesses and creating jobs.
Fishing business:
“And the catch is quite good, an upbeat sign for Somalia’s reviving seafood industry, which has recently caught the eye of Asian investors.”
Mr. Egal is opening the “First Somali Bank”, and he says:
“Now is the precise time, neither too early nor too late, to invest in Somalia because security has drastically improved but taxes are still low.”
Nonetheless there is still reason to be cautious since only 2 days ago, April 4th, a bomb exploded during the ceremony at the newly reopened National Theater in the Somali capital.
“The prime minister was addressing the guests, turning an event that had been a welcome sign of growing calm into a grisly reminder of the many troubles still plaguing the country.
Somalia’s Ministry of Information said that four people, including two prominent sports officials, were killed, though officials said the Prime Minister, Abdiweli Mohamed Ali, was unhurt. Ten journalists and a lawmaker were wounded.”
Fortunately, the army of the African Union, which protects Mogadishu and is heavily armed, is getting more troops and the capital should become safer and safer as the days go by.
Source:
NY times Articles
NY times Articles
"A Taste of Hope in Somalia's Battered Capital"
Deadly Blast Shatters Calm in Somali Capital"
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