SDC delegation Meets with Somaliland Representatives in Addis Ababa to Discuss Investment
“In a fragile, and still largely divided, region, it is essential that high quality investors, committed to sustainable growth for themselves and the communities in which they operate, are attracted.
The wrong investors can undo all the progress made. The most stable environment for investment remains unquestionably in Somaliland.” Carver
“Somaliland’s track record of nearly 20 years of political stability and security is ready for business right now.” Edna Aden
SDC Press Statement
Somalilandsun – In line with the Somaliland Development Corporation -SDC’s mandate to develop and negotiate mutually beneficial contracts between communities and investors in the former British protectorate of Somaliland and the surrounding Horn region of Africa, four of the SDC’s directors have recently returned from a trip to Addis Ababa, where a series of meetings with Somaliland community representatives took place from 19–24 April 2013.
During the meeting between the SDC delegation and Somaliland Community Representatives in Addis Ababa discussions included
• Reviewed short, medium and long-term project agendas
• Investment sectors discussed includ
ed livestock, power generation and Berbera Corridor
• Supported by the Department for International Development (DFID)
• Facilitates investment into the Somaliland, Horn of Africa
The delegation from the SDC consi
sted of Jeremy Carver CBE, President of the British branch of the International Law Association; Professor Myles Wickstead CBE, former UK Ambassador to Ethiopia and Independent Vice-Chair of the Westminster Foundation for Democracy; Leoned (Len) Tiahlo, Resources Sector Executive and Investment Specialist and Edna Adan Ismail, a UN diplomat, French Legion of Honour recipient and former Foreign Minister of Somaliland. They met with six community representatives from the various Eastern Central and Western regions
of Somaliland
The SDC reviewed potential short, medium and long term commercial project agendas over a range of investment sectors, including:
• Livestock related business
• Power generation
• Fake pharmaceutical detection
and reporting
• Berbera Corridor related business essentials including insurance capacity
• Media and information systems expansion via the newly installed optical fibre network (extending to Et
hiopia)
• Defined sponsorship agendas whereby new or past foreign investors be invited by the SDC to respectively initiate or re-establish their presence and acceptance by the local hosting communities
• To operate in harmony with the regionally-agreed Constitution of Somaliland
Furthermore, the SDC has
amended its constitution to increase its number of Community Representatives from five to 15, allowing for future greater representation of regional Somali interests, and fostering the long-term goals of the SDC to work alongside local communities to create mutually sustainable and transparent contracts by raising their level of understanding of foreign inward investment opportunities and the accompanying international business environ
ment.
Comments Carver “In a fragile, and
still largely divided, region, it is essential that high quality investors, committed to sustainable growth for themselves and the communities in which they operate, are attracted. The wrong investors can undo all the progress made. The most stable environment for investment remains unquestionably in Somaliland.”
Adds Ismail, “Somaliland’s track record of nearly 20 years of political stability and security is ready for business right now.”
About the SDC
The SDC was founded in 2011 and is part of a process that seeks to better integrate the former protectorate Horn region of Africa into the international community. The organisation aims to increase outside investment in Somaliland – and the surrounding regions of the Horn of Africa – by providing a secure, professional and mutually beneficial environment for investors and local communities to interact. The SDC assists in developing and negotiating mutually beneficial contracts between communities and investors, thus supporting the long term sustainability of relationships, transparency of business practices and full accountability for both parties. In so doing, local host communities will be better able to improve their international business capacity and increase their choice and access to quality international investors. Working within local customs and practices, the SDC is structured to employ high standards of disclosure to investors and host communities to ensure that all transactions are competitively priced. The SDC’s Board will oversee transactions and will regularly assess financial, developmental and reputational risks. By applying World Bank anti-corruption guidelines and transactional transparency principles, the SDC provides investors and host communities with a safer platform on which to transact. For further information on the SDC, please visit www.sdc-africa.com
