They only found this oil in 2 blocks. There are 13 more blocks left.20 billion is the 6th largest? Lol
I think he meant barrels.20 billion is the 6th largest? Lol
Doubt. Think about it, a nation can't magically grow and prosper due to getting a huge amount of money over night. Depends on the country and its history. The Somalia Project has been a rough path to walk on. A democracy with 1m1v, equality, and anti-tribalist society within this century? Maybe. Unlikely tho.
But the figures ive seen elsewhere varies, it ranges from 70%, 81%, 85% to 90%. Somalia is almost a cashless society only few percentage points until it's totally driven by digital payment, it if it isn't already.
It actually shows you how high trust the society is. It fits with what Japanese American author Francis Fukuyama said and i believe it perfectly describes Somali society.
Trust: Social Virtues and Creation of Prosperity, in which he describes "the ability of various peoples to organize effectively for commercial purposes without relying on blood ties or government intervention".
It actually shows you that Somalia is not a tribal based society because tribal society or kinship based society is a low trust one. It does not extend beyond their immediate family
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You can also see the low rates of homicide , robbery and general everyday street crime amongst Somali society in general, is typical of high trust society like Japan for example.
You need to have a incredibly high amounts of trust to be dealing with eachother through mobile money. When you're dealing through mobile money especially in a context where there's limited consumer protection, no strong regulatory safety nets, and very few formal dispute resolution mechanisms every transaction is, in a way, a vote of confidence.
That’s not something that works in a low-trust environment. If people were constantly afraid of being cheated, if there wasn’t community-level accountability, or if social cohesion were weak, the system would fall apart.
I would personally call Somali society a segmentary cooperative high trust society that bridges bonds with national-scale collaboration.
Just like Japan is family-centric without being nepotistic, Somalia is clan-structured without being destructively tribal in its everyday economy and social behavior.
The proof is in the mobile money, the national business ecosystem, and the low crime rates Somalis trust each other far beyond their clans, making them a modern, resilient, high-trust society in practice, not just theory.
I hope the public sector picks up the slack eventually since local Somalis can't do everything.I like his optimism and excitement he has for Somalia's potential future. It goes to show there are Muslims out there that feel passionate at thought of other Muslims succeeding. But i certainly do wish it was 70% to Somalia and 30% to Turkey. Sigh....
The only thing we can do is wait and cross our fingers that the parliament don't fold on this and that it will lead to a better deal.
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Somalia’s Parliamentary Committee Opposes Secretive Oil Deal With Turkey
Somalia’s Parliamentary Committee Opposes Secretive Oil Deal With Turkeywww.garoweonline.com
Somalia socio-economically already operates as a non-tribal society. You can clearly see this in the national business eco-system. It's always operated like a cooperative, non-tribalist society historically speaking.
This is something i shared in private conversation:
What i would actually call Somali society:
The simple fact that there is highly robust, strong and functional private sector that can function without government intervention cross regional, cross communally means Somalia is not a tribal society.
The Public sector however doesn't reflect that especially in the FGS because rather than being local oriented cooperative one, its been hijacked by foreign political actors and it's rendered depended and weak. So they don't even answer to Somalis. They answer to their foreign handlers.
If the central government operated like the ICU or the Kacaan, how the resource wealth would be handled would be dramatically different because they answered directly to the Somali people, so protecting the country's long term interest would take precedence.
Why didn't the Turkish owners develop the airports drainage system? No accountability with Turkish firms in south Somalia.