In brief
- On 22 June 2017, Wardheer News reported that Frontier Services Group Limited had been selected by South West State of Somalia as project management organization for its new Free Zone Investment Authority.
- The report gives no contract value, duration, or start date, and no evidence that construction or service provision has begun.
- Officials described plans for infrastructure investment and a 'single window' agency, but the legal basis and funding remain unspecified.
On 22 June 2017, Wardheer News reported that Frontier Services Group Limited (FSG), a Hong Kong Stock Exchange-listed company (SEHK: 00500), had been selected by South West State of Somalia as the project management organization for its new Free Zone Investment Authority (FZIA).
The article, citing content sourced from PRNewswire, stated that the project is driven by First Hectares, described as a well-known group specializing in economic zones and agribusiness. It did not provide details on the relationship between First Hectares, FSG, and FZIA.
Erik Prince, FSG Executive Chairman, was quoted as saying the company has a "proven track record of being able to manage complex projects across challenging terrains" and is therefore suited to support the project. Omri Cohen, FSG's Managing Director in East Africa, said FSG had "reached an agreement with the South West State of Somalia to work with them on this significant project."
President Sharif Hassan Sheikh Aden of South West State described FZIA as an official agency that would coordinate as a "single window" agency for promotion, contracting, and management of developmental projects. He stated that South West State is preparing for international investment in infrastructure and local enterprise.
The Wardheer News report does not establish that a formal contract was signed, specify a contract value or duration, or indicate that any construction or service provision has begun. No update on the project's status since the 2017 announcement is given.
Frequently asked questions
What services will FSG provide?
Wardheer News reported that FSG was selected as project management organization for FZIA, but did not give specifics on the services to be delivered.
What is the contract value and duration?
The report does not state a contract value, duration, or signing date for the selection of FSG.