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Somalia National Transformation Plan (NTP) 2025-2029
- Thread starter Dagdag
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Idilinaa
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You noticed the same thing , many of the financial institutions based in Somalia have opened branches across various African countries.
And you’re right: could you imagine all these foreign exchange companies, money transfer operators, and Sharia-compliant commercial banks suddenly being flooded with capital from future oil and other revenue streams in Somalia?
Even the fuel distribution networks would be transformed.
That same paper mentioned how Somalis already dominate the fuel sector across East Africa. Once Somalia starts producing oil and gas, they could export it through Somali-controlled supply chains.
That means Somalis wouldn’t just profit from selling the oil itself but also from every step of the chain that brings it to market, keeping the value circulating within the network.
This really shows how financial institutions are the backbone powering these businesses and an influx of oil revenue would supercharge the entire system within just a few years.
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Maybe they could give loans to these banks or buy a stake in ownership. Or setup private-public partnerships where the state provides the initial funding. There seems to me to be lots of smart ways for rhe stats to pass on the money.
Yeah PPP sounds like the most common way, its happening as we speak
Buying a stake in ownership will probably happen
Another very big opportunity which in my mind is actually bigger than A.i and is the opportunity of the century is the spaceport they're planning to build. I was reading about this discovery and the implications once they bring back real anicent macrobial life from mars will likely trigger a new space race. Since who knows what potenial advances in biological and chemistry this might open the doors to
If the somali political elite play their cards right and divert a significant amount of the oil revenues into building the infrastructure around the spaceport and making sure that the city that springs up around it is one of the best spaceports then the talent thats attracted by the big companies using that spaceport will guarantee somalia will develop a massive amount of scientific and technical talent in the coming decades. Since any space endeavor requires all sorts of scientists and engineers.
If the somali political elite play their cards right and divert a significant amount of the oil revenues into building the infrastructure around the spaceport and making sure that the city that springs up around it is one of the best spaceports then the talent thats attracted by the big companies using that spaceport will guarantee somalia will develop a massive amount of scientific and technical talent in the coming decades. Since any space endeavor requires all sorts of scientists and engineers.
One of the reasons place like silicon valley or shenzhen exist is that once you have a certain amount of infrastructure and talent in a certain place it creates a massive compounding effect as more money and talent head towards where money and talent are already concentrated.
It also doesn't take long for what was a small initial advantage to grow into something that becomes something without an alternative. I mean how many countries would be able to divert billions in taxpayer money into project that would seem frivolous to their pouplation and doesn't come with a guarantee payoff ? These are all risks and problems that become irrelevant in our situation since we have some other country paying for the initial project and we can use oil revenues later to expand it.
It also doesn't take long for what was a small initial advantage to grow into something that becomes something without an alternative. I mean how many countries would be able to divert billions in taxpayer money into project that would seem frivolous to their pouplation and doesn't come with a guarantee payoff ? These are all risks and problems that become irrelevant in our situation since we have some other country paying for the initial project and we can use oil revenues later to expand it.
Idk about a new space age but it will definitely put Somalia on the map, for a good reason this time, it will also hopefully generate more revenues to the government
Honestly the revenue in mind isn't worth much.
The real value is that these companies will require scientists and engineers and if we turn it into like a special economic zone and give them like tax benefits and stuff. Then they'll likely move their scientists and engineers to be closer to the spaceport.
Which means that you have all these world-class scientists and engineers in our country who could be teachers in our universities and mentor the next generation of somali scientific and technical talent. Imagine the impact of this over 20-30 years.
Idilinaa
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The paper lays it out that they generate wealth through finance, trade, transport/logistics, import–export distribution, retail/wholesale and building their own product brands.
Another thing is that they source goods or raw produce from Somalia and abroad, then process, package, and brand it , selling it globally at higher mark up prices.
When some of those papers mean distribution of Foodstuff . This is what they mean , they are selling their own food brands
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Thats what Ireland did, even though the population is poor by European standards, their GDP per capita is one of the highest in the world
Idilinaa
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I think Somalis have a lot in common with the Chinese. I recently learned that the Chinese have a social-business network called "Guanxi" an informal, trust-based system that helps overseas Chinese support and collaborate with each other based on shared background.
en.wikipedia.org
In a similar way, Somalis have their own social-business networks, but I’d say ours are even more ethical and extend beyond just kinship ties. It would be great to coin a proper term to describe it. ‘Iskashaato’ captures part of it , the cooperative and vertically integrated business model but something broader could really define this unique Somali approach
Guanxi - Wikipedia
In a similar way, Somalis have their own social-business networks, but I’d say ours are even more ethical and extend beyond just kinship ties. It would be great to coin a proper term to describe it. ‘Iskashaato’ captures part of it , the cooperative and vertically integrated business model but something broader could really define this unique Somali approach
Exactly this is what I meant when I was talking about kinship structures.I think Somalis have a lot in common with the Chinese. I recently learned that the Chinese have a social-business network called "Guanxi" an informal, trust-based system that helps overseas Chinese support and collaborate with each other based on shared background.
Guanxi - Wikipedia
In a similar way, Somalis have their own social-business networks, but I’d say ours are even more ethical and extend beyond just kinship ties. It would be great to coin a proper term to describe it. ‘Iskashaato’ captures part of it , the cooperative and vertically integrated business model but something broader could really define this unique Somali approach
Except this is on a much larger scale and Ireland was more a corporate tax haven.
Im pretty sure the spaceport is being built near the coast. Imagine how big of a draw a beach town would be. After a long hard week of crunching numbers you could go hang out on the beach for the weekend.
This is probably not going to happen as long as shabaab is a thing, there's steps to this so focusing on the first steps would be a better idea for now
This would honestly be the solution to my worry about how somalia could quickly build a pool of scientific and technical talent. It would take at most 20 years for somalia to build out an entire first world class of talent since these guys would be able to earn scholarships to work with the foreign talent in the spaceport area. As well as study under foreign scientists and engineers teaching at somali universities
