Mogadishu (AX) — On Monday, Galmudug’s leader, Ahmed Abdi Kariye, fondly known as ‘Qoor Qoor,’ inked a monumental 80-year pact with Turkish industrial giant Metag Holding to build the Hobyo Port. He remarked that this project could morph Somalia’s central coastline into a bustling trade corridor. It was a well-attended shindig in Mogadishu, drawing in federal bigwigs, lawmakers, and the who’s who of the business world.
Qoor Qoor underscored Hobyo Port’s game-changing potential, especially for landlocked Ethiopia, which leans heavily on Djibouti for its import and export avenues, covering 90% of its trade. “Ethiopia doesn’t have a port, and Hobyo presents a golden business chance. We’ll soon overcome the hurdles, catapulting Hobyo into one of Somalia’s largest ports, catering to cities far and wide,” voiced Qoor Qoor with conviction.
Metag Holding, a Turkish behemoth since 1967, showcases vast chops in African infrastructure ventures, spreading its influence across Somalia, Djibouti, and Kenya. Celebrated for marine wizardry, Metag delivers solid wharves, jetties, and coast-wise facilities.
In Somalia, Metag’s footprint includes setting up military bases, runways, and aqua networks.
The forthcoming port promises to ease the squash at Mogadishu’s jam-packed harbor, rerouting commerce and boosting efficiency in Somalia’s seafaring trade ecosystem. It’s set to pour generous economic perks into Galmudug, generating gigs, sharpening up infrastructure, and galvanizing local enterprises. Hobyo will be the go-to spot for Somalia’s livestock and crop exports, bailing out regional farmers and merchants.
Infrastructure snags persist. Thoroughfares linking Hobyo to key urban hubs like Galkayo are pretty banged up, curtailing swift goods transit. Fixing these woes is crucial for Hobyo’s prosperous reign as a trading nucleus.
Hobyo’s fab position along significant sea paths threading the Middle East, Asia, and East Africa plants it snugly in a thriving trade web. Back in 2019, the port hooked a $170 million injection from Qatar’s state-backed port outfit, Mwani Qatar, aimed at newfangling cargo terminals, berths, and road links to sync Hobyo with inland marts. Fast forward to November 2020, Galmudug’s authorities penned a pact with a UK collective, Oriental Terminal, featuring Turkish, British, and Somali merchants, to build and helm Hobyo Port. This 2020 deal eclipsed hints of $90 million from Somali interests once earmarked for the port, hinting at the phase-out of Qatari involvement.
Hobyo Port’s construction sits as a headliner for Galmudug’s ambition, fueling its economic leapfrog on the chart. President Qoor Qoor reaffirmed his government’s commitment to underpinning this long-coveted dream, tagged as a chief aspiration for Galmudug’s folks.
The President rallied investors and entrepreneurs to seize Hobyo Port’s bonanza, flagging the pact as the dawn of a new context for the region’s trading prowess.
Edited by: Ali Musa
Axadle international–Monitoring
