Monday, 4 October 2010

SOMALIA: Without the diaspora, the private sector would fold

Somalia has been engulfed in civil war for 20 years, resulting in the collapse of central state institutions, the destruction of social and economic infrastructure and massive internal and external migration.

However, despite the absence of a state and its financial, economic and social institutions, the traditional Somali spirit of entrepreneurship remains strong and the private sector resilient and robust.

Indeed, the private sector has managed to grow impressively, particularly in the areas of trade, commerce, transport, remittance services and telecommunications, as well as in the primary sectors, notably in livestock, agriculture and fisheries. Read more

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