February 15th Africa Now that the security climate has improved in Mogadishu, the property and energy sectors, as well as operating airport infrastructure, are looking desirable.
One of the main financial backers for a project to build housing for Somalia’s future middle class is the founder of the al-Barakat conglomerate, Ahmed Nur Ali Jimale, whose activity already extends to a wide variety of sectors: telecommunications, import-export, money transfer and construction. They are to be built between Mogadishu and Afgoye, near Ceelasha Biyaha, in partnership with the federal government.
Ahmed Nur Ali Jimale is also behind the Somali Energy Company (Seco), created several years ago and now run by Abdurazak M. Halane. Seco holds a quasi-monopoly on the production and supply of electricity to Mogadishu, after it persuaded many owners of electricity generators powering the city to sell it their equipment in return for company stock.
However, a sizeable competitor to Seco may soon make its appearance on the scene. To be sure, some Turkish companies have expressed an interest in building an electricity power station at Jazeera Beach, south of Mogadishu, and have begun negotiations with the Somalian government on this matter and also to obtain the concession for a block to search for gas in the Afgoye zone.
Other Turkish entrepreneurs are beating a path to the Somalian government doors to replace the Dubai-based company SKA Air & Logistics, to operate Mogadishu airport.