Somalia: promising investment projects bring back Mogadishu glamor
Mogadishu (Diplomat.so) – The Somali capital, Mogadishu, has recently witnessed a remarkable expansion in many aspects, such as urbanism and modernity, and its streets are crowded with luxurious restaurants, cafes and hotels.
These internal commercial and investment activities have restored their luster and beauty, known as the 1970s as one of the cleanest African capitals with a deep civilizational history.
This week, the high-end Elite Hotel was opened as an investment gesture by Parliament member Abdullahi Ahmed Nur who owns several commercial activities in the country. The hotel is like a small resort for tourists and Lido beach promenades in Mogadishu, as well as a lounge and coffee shop for Somali dignitaries, including politicians, businessmen, ambassadors, diplomats and employees of international and local organizations working in Capital.
Somali traders are consolidating their position in the country after investing in an unprecedented way in South Africa, Uganda, Kenya and South Sudan.
Economic analysts said that the Somali citizens’ investment in their country attracts foreign investment opportunities as a bright hope from East Africa after the country has gradually recovered from the scourge of internal fighting and terrorist violence.