(Horn Diplomat News Desk) The Chairman of the Somaliland opposition party, UCID, Faisal Ali Warabe, called for the government and businesses in Somaliland to embrace a culture of competition. “Our constitution stipulates free trade. We must bring to an end monopolies in Somaliland” Faisal said at Egal International Airport to welcome Telesom CEO, who won AfricaCom CEO of the Year completion.
The Start-up creating rate puts Somaliland ahead of Somalia but monopolistic tendencies stifle competition through merger or acquisition. A business analyst in Hargeysa, who prefers to be quoted anonymously says “consumer rights is at the bottom of the agenda. If the two opposition parties put their heads together to promote a business competition agenda, the Somaliland government will give in to the pressure to break up monopolies and study mergers and acquisitions before giving conglomerates the greenlight”.
In a 2016 report the World Bank commended Somalilandfor creating an environment conducive to businesses. However, the World Bank highlighted a cosy relationship between Somaliland conglomerates and the legislature. The World Bank views this relationship as a threat to Somaliland polity.