Step a side
VIP
Oman wants shares in Hobyo port
- Thread starter Step a side
- Start date
You don't have permission to view the spoiler content.
Log in or register now.
Step a side
VIP
Watch the video,
As you know the money to build the port has already been raised by Somali businessmen. The Omanis are seeking to become shareholders.
They should reject them. What is it with gulf arabs and them always wanting a piece out of somali investments or business.
As long as they don’t get bought out, which it doesn’t seem like they will judging from them saying “we don’t need anyone, the money has already been raised”, they also said that Oman sees an opportunity to invest. That’s way different than getting looted, like what will be happening to SWS.
@Step a side do you see the port in barawe negatively interceding port traffic in the future for hobyo?
Step a side
VIP
There is a lot of distance between the two ports. Both would probably be used for different purposes.
I domt think they'll get bought out. But it's the fact that everywhere somalis go in the world and invest or build something. Some random arabs come out of the shadows and ask for a share .
TheLand
VIP
@Step a side Cumaan is even more of a PL colony than MN and Zambia. Better be carefully what you ask for 
All money is the same green. As long as it isn’t a controlling interest who cares.
the darood delusions this guy has never fails to make me laugh@Step a side Cumaan is even more of a PL colony than MN and Zambia. Better be carefully what you ask for
They are welcome to invest in it but they should not be granted any share in the port. It should be like Bosaso where the government maintains 100% ownership.
Since the money has already been raised by Somali businessemen , there is no need for large heavy Foreign Direct Investment(FDI)
People don't understand that giving people a share in any infrastructure, resources or major business, just means they take a portion of that revenue back to their country and ownership also allows for them to employ their own. So it won't benefit local Somalis in anyway shape or stimulate real economic growth.
You can already see reer Berbera complain when the government forked over 50% share to DP world Dubai, they leave with half the revenue and employ their own workers from south asia and middle east . They agreed to this deal because they were desperate for Dubai to recognize them not because they need it.
Somali leaders need to be more Caqli we are not cash strapped , we have a large wealthy diaspora and local business community that can help fund stuff. Our yearly diaspora remittances 2.9 billion equal or even exceed FDI that Kenya and Ethiopia gets (FDI in Kenya (2022): $1.6 billion, FDI in Ethiopia (2022): $3.3 billion , FDI in Nigeria (2022): $5.3 billion). We recieve more in remittances than many African countries recieve in FDI.
We can realistically pull 5-10 billion investment capital from the diaspora and we can get 10-20 billion of investment from local businesses. This also gives us space to negotiate better deals if we attract foreign investment, to retain local ownership and retain wealth.
They should look at Japan and Korean model of funding infrastructure development without foreign loans and heavy reliance of FDI.
Last edited:
