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Vol 56 No 24

Published 4th December 2015


Somalia

The Brits are coming

Curiosity is growing as to why business people close to the Conservative Party are so interested in such an unstable part of the world

Somalia has long been seen as too risky for even the hardiest foreign investors but now a new band of British money-men, adventurers and politicians is setting up shop there. A former Home Secretary and Conservative Party ex-leader Baron Michael Howard of Lympne QC, who took the chairmanship of Soma Oil and Gas in 2013, is merely the most prominent of the bunch. All the ventures are related to resource exploitation or construction. Some have attracted criticism from the United Nations Monitoring Group on Somalia and Eritrea (UNMGSE) because a legal regime for tax and regulation does not exist.

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