State of Somalia on the African continent, in the last ten years being in the vicissitudes of civil war, is going to open its own exchange. This is evidenced by Agence France-Presse citing Somali officials. Somalia, the authorities want to show that the state of Somalia "is open for investment and big business."
From the words of Mohamed iddah, the authorized representative of the state of Somalia to the United Nations, a huge part of the "red tape" has already been done and the market will be launched in the next seven months. In this geographically marketplace are going to place in the Kenyan capital Nairobi. Directly in Somalia is not possible to open a stock exchange because of the confrontation between the government troops, clans, Islamists and African Union peacekeepers and pirates.
Agreement with neighboring Kenya, which in this economic process headed by the head of financial exchanges Nairobi - Peter Mwangi is already present in the form of signed documents. Kenyan financial exchange will stimulate a "technical development" trade - the financial platform of Somalia.
Currently, Somalia receives significant infusion of investment in the form of financial transfers from the diaspora. This amount is approximately equal to two billion dollars. From the words of Mohammed, we see that a highly organized financial institution will allow this money to raise financial and economic situation in the country. He added that the market will become a "bridge" between the state and the rest of Somalia.
Soon unstable "transitional" government of Somalia, the ruling in the last eight years, will be forced to resign and will be replaced in the peace process of the UN. This process involves the selection of the new leaders of the state elders of the country.