Somalia seeks investments from Saudi Billionaire Prince Alwaleed

Published: February 4, 2016

Somalia seeks investments from Saudi Billionaire Prince Alwaleed
Somalia’s Ambassador to the Kingdom of Saudi Arabia Dahir Mohamoud Gelle met the Saudi billionaire Prince Alwaleed bin Talal to discuss investment opportunities in the Horn of Africa nation, Horseed Media reports.
The prince, a nephew of Saudi Arabia’s King Salman, was ranked 26th on the Forbes global ranking of billionaires. He owns large stakes in a number of international companies, including Twitter and Citigroup.
Last year, he said he will donate $32 billion to charity in coming years via Alwaleed Philanthropies.
During a meeting in the wealthy Arabian Kingdom, Ambassador Gelle thanked the globally renowned investor for visiting Somalia in 2011 to witness the victims of the famine that led to the death over 100,000 people.
The Ambassador went on to brief the Saudi billionaire on the current developments in the country in terms of security and politics. Mr Gelle added that Somalia is now open to investments and his investment will be an example to other global investors.
Finally, Somalia Ambassador requested the billionaire to pay a second visit to the country in order to witness changes.
According to sources, Prince Alwaleed did not make any pledges to the Somalia Ambassador.
Following two decades of civil war, Somalia is now recovering remarkably with the capital, Mogadishu recently ranked as the world’s second fastest growing city.
Recently, Somalia’s Federal government sided with the Saudi Kingdom in the political row with Iran. The government cut off diplomatic ties with the Islamic republic, while there are reports strongly claiming it received a $50 million aid from Saudi Arabia immediately.
Horseed Media

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