Somali government seeks private investor

13 Sep 2013

According to TMT Finance, the Somali government is in the process of finding a private investor to help with the deployment of telecoms services in the country. ‘None of the household names are involved in talks, but the opportunity has attracted several parties. Some of those have senior government contacts, which I suspect will have some kind of influence on the process,’ one unnamed source said. The report indicates that the government plans to form a joint venture with a private investor, with the latter expected to invest USD100 million in the rollout of a national network. A mixture of hedge funds and high net wealth individuals familiar with the region are said to have been contacted.