The Egyptians imported varieties of frankincense that grew only in Somalia, so the possibility of Punt stretching geographically as far south as northern Somalia isn't out of the question. However, there are specific reasons I remain convinced that the Gash Group Civilization, centered in northwestern Eritrea, was at the heart of Punt.
1. We know Punt was a state-level society based on Egyptian descriptions of meeting rulers there, who were distinct from those of Kerma. The only archaeological evidence we currently have of a nascent state in the Horn of Africa during that period comes from Eritrea, specifically the Gash Group.
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2. We know that Kerma, during political or territorial disputes with Egypt, would routinely block the overland trade route to Punt. Cutting off this vital trade link forced Egypt to construct a seafaring fleet to reach Punt by sea as an alternative. This evidence firmly places Punt within Africa, and likely near enough to Kerma and Egypt to facilitate relatively easy direct trade.
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3. Another key piece of evidence that cements my belief that Punt was in Eritrea is that, during an extensive military expedition by Kerma against Egypt, it allied with Punt and the Medjays to invade Egypt. This indicates that Punt was located close enough to Kerma and Egypt to actively participate in regional disputes and military campaigns.
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Now, this is not to say definitively that the ancestors of Somalis had nothing to do with Punt or that it wasn't possible for Punt to have stretched as far south as northern Somalia. After all, the Gash Group Civilization was demographically composed of agro-pastoralists and located on a route that follows the southward migrations of Cushitic speakers, so a significant portion of the Horn of Africa's population, including Somalis, are likely direct descendants of the people who inhabited the region at the time.