General Services

Puntland has a well established telecommunication system which is relatively cheap as compared to other East and Horn of African countries, a seaport and an international airport at Bossaso. Currently, a new airport is under construction. The state also has Banking institutions that offer saving accounts and money transfer from Somalis in the Diasporas.

Though there are no existing banking acts in Puntland, however the Islamic interest free banking system is in operational. Some of the major Banking Institutions are Dayax Islamic bank, Amal Bank, and Dabshil money transfer. However the road network is not up to the standard and it needs grand marshal plan to change the current sorry states of the road network.

A road from Garowe to Bossasso that was completed before the civil war opened the latter to the livestock trade. the hotel industry has grown tremendously since the collapse of the Somali central government. We have hotel that have the standard of five star hotel such as International Village which is the most expensive ranging from 20-30 US Dollars. Others are Juba Hotels which are relatively cheap with a price tag of 8-10 US Dollar per night. The hotels are` situated along the Bossaso main roads with a walking distance to the sea.

Telecommunication

Puntland consumers today enjoy one of the most cheap telephone charges compared with most other African telephone service providers. Competition has made the sector to improve tremendously from a single international communication outlet in Mogadishu with a minimum and poor coverage to state of the art telecommunication systems in all major urban locations in Puntland with very competitive priced telephone, fax, internet and mobile phone services. Puntland has a well established telecommunication system which is relatively cheap as compared to other East and Horn of African countries, a seaport and an international airport at Bossaso. Currently, a new airport is under construction.

Telecommunication companies

  • Golis
  • Somtel
  • NationLink

Golis Telecommunication company is by far the largest company currently commanding 85% of the market share. The company provides standard services, fixed lines, mobiles (GSM), and internet dial up and broadband.

International call charges averagely vary from US$0.26-US$0.50/minutes and local charges vary from US$0.10-US$ 0.35/minute depending on the level of local competition. Low cost V-sat technology is expanding in Puntland .

Puntland has some of the high standard hotels for tourist intending to visit the state. Juba Hotel, five star hotel, international village Hotels are some of the major five star class hotels in Bossaso which provide the best accommodation and hospitality.

The state also has Banking institutions that offer saving accounts and money transfer from Somalis in the Diasporas. These include Dayax Islamic bank, Amal Bank, and Dahabshil money transfer. However the road network is not up to the standard and it needs grand marshal plan to change the current sorry states of the road network. A road from Garawe to Bossasso that was completed before the civil war opened the latter to the livestock trade.

Dayax Islamic Bank was incorporated on 7 June 2005 as a consequence of being awarded a banking license by the Government of Puntland, Somalia. The Bank is scheduled to commence operating on 1st January, 2006 at its headquarters in Boosaaso, Puntland, Somalia. Upon commencement, the Bank will be a full service bank offering consumer banking, corporate banking, insurance and investment services. All its financial products will be Shariah compliant in accordance with Islamic principles.