As many international companies start to reassess their view of possible business opportunities throughout Africa the Horn of Africa Business Association (HABA) is pleased to report increased commercial activity in the Horn of Africa. A rash of regional developments from the extension of fibre optic connectivity and broadband thanks to the likes of Somcable (www.somcable.com) to the generating of renewable energy by Reykavik Geothermal (www.rg.is) in Ethiopia are helping Africa’s terra incognito to be viewed anew. Recent developments such as the opening of a make-shift British Embassy in Mogadishu, with the Netherlands and EU set to follow suit is indicative of a return to a degree of normality that will help foster further commercial activity.
“Perception and misconception play a very large part in business confidence and it is encouraging that international and Diaspora businesses are eager to learn more about the region and its opportunities. HABA is delighted to see the British Foreign & Commonwealth Office (FCO) in conjunction with the Department for International (DFID) organising a Somali Business & Investment event in London (8/5/2013). This is a positive initiative that we whole heartedly support and are happy to be part of. Anything that allows foreign investors and the Diaspora to have a better understanding of the real situation on ground has to be a good thing.” – Mohamed Ali, Operations Director.
HABA (www.ha-ba.com) as a non-political organisation is committed to helping others realise the enormous economic potential of the region and works assiduously to address the current knowledge deficit.
“Reliable economic data is often in short supply, so as in all business activity there is always a degree of risk. We urge companies large and small to endeavour to do their due diligence and constantly work to be culturally sensitive and pragmatic in approach. The Horn is a fascinating region, ripe with potential, with a near unrivalled strategic location. From Berbera to Omdurman there is a wealth of commercial activity that belies the myth that this part of Africa is poor. If you take the HABA region is a whole it is a massive market with approximately 300 million people and rising. Yes there are difficulties, but with our own regional market and sector intelligence HABA’s view of things is one of grounded optimism.” – Mark T Jones, Executive Director, HABA.
HABA is proud to have been at the forefront of highlighting opportunities in the field of hydro-carbons, but also believes that there is even greater potential in the area of renewable energy, particularly solar. In the coming years it sees a number of sectors proving particularly attractive to both local and foreign investors:
- Agriculture and agro-processing
- Construction and Real Estate
- Fisheries
- Livestock
- Transport & Logistics
All of these sectors should go some way to alleviating the greatest of the region’s challenges, that of youth unemployment. HABA believes that with a continued spirit of pragmatism, co-operation and mutual respect attitudes towards the region will continue to change for the better.
HABA works in the following countries: Djibouti, Eritrea, Ethiopia, Somalia and Somaliland (The Horn of Africa), Kenya, South Sudan, Sudan, and Uganda (The Greater Horn) as well as forging further business links being forged with Burundi, Rwanda and Tanzania.
For further details visit the HABA website (www.ha-ba.com) or contact:
Mohamed Ali – Operations Director
E-mail: mohamed@ha-ba.com Tel:+44 (0) 7730 276976
Mark T Jones – Executive Director
E-mail: marktjones@ha-ba.com Tel: +44 (0) 7727 61577
PRESS RELEASE
Issued 28th April 2013