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Counting the Cost
Puntland: In search of black gold
As oil companies have started drilling in the autonomous Somali region, will it turn rags into riches?
Last Modified: 21 Jan 2012 13:08

Puntland, one of the poorest regions in Africa, has been a semi-autonomous region in Somalia since 1998 when it was formed in response to the collapse of the government and the ongoing civil war in the south.

It has been calm recently compared to the lawless south, but illegal fishing, dumping and piracy along its coast are a barrier to progress.

But now for the first time in 20 years oil companies are drilling in Puntland and the region is hoping to see how transformational and powerful natural resources can be to a struggling economy.

Oil could offer the jobs and revenue the region desperately needs.

So has the autonomous region of northern Somalia found the source of its own renewal? Could oil change change the fate of Puntland? We talk to one of the men who is drilling for black gold.

We also take a look at Kabul's real estate market. First war and then investment brought many foreigners to Afghanistan's capital which led to a higher demand for real estate resulting in high property prices.

But with a scaling down of commitments in Afghanistan starting to kick in, what has happened to the property bubble?

The Dharavi slum of Mumbai, India is the largest slum in Asia - and an enormous site of industry and commerce. Now a plan by the Indian government to turn it into a multi-billion dollar township is raising concern.

We also visit the London high street store where you can walk in and buy a private jet.

Plus, we speak to Andrew Burns from the World Bank about the latest, rather grim growth forecasts.

 

Counting the Cost can be seen each week at the following times GMT: Friday: 2230; Saturday: 0930; Sunday: 0330; Monday: 1630.

Click here for more on Counting the Cost.

Source:
Al Jazeera
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