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XAFIISKA MADAXWEYNAHA

OFFICE OF THE PRESIDENT

Monday, June 29, 2009 (Somaligov News) The Somali Ministry of Finance is hereby assigned Contractual Management in  funds to the Price Waterhouse Coopers.

Financial Management

Meanwhile the Somali federal government Monday appointed PriceWaterhouseCoopers to manage donor funds meant for institutional capacity building and development.

The TFG with support from bilateral and multilateral organisations is trying to help put in track the basic institutions through a process of reconstructing the financial institutions.

The TFG Finance Minister Sharrif Hassan Adan said Price Waterhouse Coopers will specifically undertake financial and procurement management, tracking and monitoring the use of disbursed funds and financial capacity building of the government financial institutions.

"This is a big step in reconstructing and rebuilding Somalia. I encourage other development partners to expeditiously support the TFG. In addition this will enhance transparency, accountability and will make it possible for resources to be connected to results," he said.

Kenya, Somalia sign Maritime Boundary Agreement

NAIROBI, April 4 (Somaligov News) - The Kenyan and Somali governments on Friday signed a memorandum of understanding on their maritime boundary.

The agreement will facilitate the presentation of Kenya's submissions to the Commission on the Limits of the Continental Shelf by May as required under the United Nations Convention on the Law of the Sea (UNCLOS).

According to the provisions of UNCLOS, coastal states intending to delineate the outer limits of their continental shelf beyond 200 nautical miles are required to submit particulars of such limits with supporting scientific and technical data to CLCS.

The preparation of Kenya's claim for submission requires the cooperation of its neighbors Tanzania and Somalia.

This is because, UNCLOS provides that states that have adjacent coastlines to each other need to conclude agreements on the delimitation of their maritime boundaries for their Territorial Sea, Exclusive Economic Zone and Continental Shelves by means of an agreement in order to achieve an equitable solution.

Kenya Foreign Affairs Minister Moses Wetangula signed the agreement with Somalia Prime Minister Omar Abdirashid Ali Shermake.

Wetangula said the preparation of Kenya's claim for submission requires the cooperation of its neighbors, Tanzania and Somalia.

"This is because, the convention provides that states that have adjacent coastlines to each other need to conclude agreements on the delimitation of their maritime boundaries for their territorial sea, exclusive economic zone and continental shelves by means of an agreement in order to achieve an equitable solution", he said.

Wetangula said the government has negotiated the maritime agreement with the Transitional Federal Government of Somalia.

The minister said the government is also in the process of concluding a similar agreement with the Tanzanian government.