Is this the only economy BANNED from global finance that's succeeding?
How an emerging nation on the Horn of Africa has built a stable economy and society largely ignored by the world.
During my visit to Somaliland, I spoke with Hamse Khaire, Deputy Governor of the Bank of Somaliland, about the remarkable success of this fledgling democracy.
“Somaliland is in good shape,” Khaire told me. “Our economy has a strong foundation, and we are doing well. Even before Israel’s recognition, we maintained stability and the credibility of our currency, the Somaliland shilling.”
I travelled to the Horn of Africa on a mission to uncover the truth about Somaliland, a self-declared republic often overlooked by the global community.
Khaire highlighted that Somaliland has managed to survive without access to the global financial system, overcoming unemployment and poverty. “We cannot get loans from the IMF or World Bank, yet we have maintained peace and built an economic system that survives better than many countries connected to the global system,” he said.
The secret to Somaliland’s stability, Khaire explained, is its legitimacy and grassroots ownership. “The country came from the people. We are not a scheme to rob international taxpayers. Our government is elected; it is a people's project. We rely on our own resources, and that makes the difference.”
Walking the streets of Hargeisa, I observed a vibrant cash economy with virtually no crime ... a stark contrast to Somalia just across the border. Khaire attributes this to strong community engagement, competent governance, and a highly disciplined security apparatus.
Somaliland’s story is one of resilience and innovation, an African democracy that has prospered largely without international patronage. It demonstrates that with legitimacy, community ownership and disciplined governance, a nation can flourish even outside the world’s financial spotlight.
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Avi Yemini
Chief Australian Correspondent
Avi Yemini is the Australia Bureau Chief for Rebel News. He's a former Israeli Defence Force marksman turned citizen journalist. Avi's most known for getting amongst the action and asking the tough questions in a way that brings a smile to your face.
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COMMENTS
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Fran g commented 2026-03-07 12:59:27 -0500If I was them I would stay totally away from any other country. You will be caught up in their mess. Sounds like you have it right. Just leave everyone else out. Enjoy what you have accomplished. -
Bruce Atchison commented 2026-02-17 20:02:05 -0500The Devil’s people hate success stories like Somaliland. Satan wants discord and turmoil. And it’s good for Black Rock.
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Fran g commented 2026-02-17 13:47:57 -0500Somaliland is an amazing example of what other Christian muslim nations should want to be. No extremists, no terrorists allowed.
