The Somali Pirate Stock Exchange

Pirates operating in the waters off of Somalia have opened a stock exchange in order to encourage investment in their industry. The market has thrived, and the exchange now provides a business forum for 72 “maritime companies”. Mohamed Ahmed writes for Reuters:

It is a lucrative business that has drawn financiers from the Somali diaspora and other nations — and now the gangs in Haradheere have set up an exchange to manage their investments.[...]

“Four months ago, during the monsoon rains, we decided to set up this stock exchange. We started with 15 ‘maritime companies’ and now we are hosting 72. Ten of them have so far been successful at hijacking,” Mohammed said.

“The shares are open to all and everybody can take part, whether personally at sea or on land by providing cash, weapons or useful materials … we’ve made piracy a community activity.”

Link via io9 | Image: US Department of State