Trade Imbalance: Villa Somalia's profit making Khat for Fish business

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Thursday June 24, 2021 - 23:40:08 in Latest News by Super Admin
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    Trade Imbalance: Villa Somalia's profit making Khat for Fish business

    Mogadishu, Somalia – Somalia recently signed a deal with Ethiopian government which swaps khat for Fish, a deal immediately welcomed by Somalia's incumbent president Mohamed Abdullahi Farmaajo.

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Mogadishu, Somalia – Somalia recently signed a deal with Ethiopian government which swaps khat for Fish, a deal immediately welcomed by Somalia's incumbent president Mohamed Abdullahi Farmaajo.

According to the deal signed by Somali Minister of Fisheries and Marine Resources Abdillahi Bidhan and Ethiopian ambassador, Abdifatah Abdullahi will allow the horn of Africa nation export fish to its neighbouring landlocked country.

"This process is just the beginning. Many people may have heard of Kenyan khat why was it banned? Khat in Kenya has been banned and the Kenyan government has refused to allow us to export our commodities to their country. "Hands are good at exchanging things," said Minister Bidhan.

The first consignment of 5,000 tons of fish from Somalia was dispatched to Ethiopia.

The move was immediately welcomed by Farmaajo as the entrepreneurs from Somalia are Farmaajo’s brother Hassan and Ali Yare Ali, who is currently the deputy mayor of Mogadishu.

Somali khat traders accused President Farmaajo for monopolizing the trade in khat for the benefit of his family. The President has ensured that his brother, Hassan, and the deputy Mayor of Mogadisho Ali Yare Ali be the only ones issued with exclusive license to import the product, leading the  Ethiopian khat known as Hareeri to pour to the markets of Mogadishu for the first time, after Somali government imposed the ban on the Kenyan khat.

The same individuals were again given license to export fish from the country.

Somalia – China Fish deals never welcomed

Many analysts think that the business is a family business, as to why the president hurriedly welcomed the Khat for Fish swaps and he did never welcome after Somalia granted fishing licenses to 31 Chinese vessels to exploit tuna and tuna-like species off the coast of Somalia.

The suspicion grew stronger when Former Minister for Transport & civil Aviation Mohamed Abdullahi Omaar resigned over disagreement with president Mohamed Abdullahi Farmaajo over  the licenses of the khat importation from Ethiopia by Hassan Farmaajo and Ali Yare Ali, deputy mayor of Mogadishu while the profit goes to Villa Somalia.

 




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