The Minister of Finance of the Republic of Somaliland, H. E. Zamzam Abdi Adan, checked the first 5 million US Dollars of a 10 million USD expected of DP World as an advance payment prior to the proper commencement of Berbera Port development related activities into an account at the Somaliland Central Bank (SCB), Monday.
Her Excellency the Minister explained why the government called the media to witness the handover of hard cash to the Somaliland Central Bank.
“The transparency we are showing here is for the benefit of the whole nation. This 5 million here is the very first from DP World and – as explained – it has been processed along proper channels ending up in account No. 11 of the central government,” she said.
The Minister pointed out that this sum was a foreign currency earned as anticipated in the forecast of the national budget for 2017. another 5 million was expected to arrive soon.
Mohamed Ahmed Awad, Director of Internal Revenue, stated that the money has been wired through Dahabshiil remittance company and was received by his office.
The Director stated that this first wire of DP World was duly registered by the Accountant General of the Republic of Somaliland.
The Director General of the Bank, the Chief Cashier and the Branch Manager were present at the brief ceremony held a the SCB premises to officially check it to the designated account.
