Bosaso - Economy

Economy

Bosaso is a city that is experiencing a period of rapid growth. Prior to the Somali civil war, it had a population of under 50,000 inhabitants. Since the conflict, Somalis belonging to the Harti Darod sub-clans began migrating back to their ancestral areas of Puntland. As a consequence of these migrations, Bosaso's population and the local housing industry have grown tremendously.

In December 2011, a new commercial market opened in Bosaso's northern Dayaha ("Star") neighborhood, near the port. Approximately half a kilometer in size, it was designed to ensure easy vehicle access. The market is the result of careful planning between Puntland government officials and civil society representatives.

Bosaso is also home to Golis Telecom Somalia, the largest telecommunications operator in northeastern Somalia. Founded in 2002 with the objective of supplying the country with GSM mobile services, fixed line and internet services, it has an extensive network that covers all of the nation's major cities and more than 40 districts in both Puntland and Somaliland. According to The Economist, Golis offers one of the cheapest international calling rates on the planet, at $0.2 USD less than anywhere else in the world. Other telecommunication firms serving the region include Telcom and NationLink.