Somalia News

"Somalia Gets New Telcoms Firm."

Source: news.bbc.co.uk

source: www.bbc.com

Hormud Telecom Somalia, anew Somali telecom company, has bought out al-Barakat, the Somali firm that was forced to close earler this year after the United States government alleged it was linked with al-Qaeda. The company stresses that it has no links with al-Qaeda or any other terrorists organizations.

Al-Barakat, prior to its shutdown, operated telecommunications, construction, and foriegn exchange operations around the world. Al-Barakat was also Somalia's largest employer and upon its shutdown many people became unemployed. The sanctions placed upon Al-Barakat meant that thousands of imporverished Somalis were denied access to funds from relatives abroad who used the bank to remit money back to Somalia.

 

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