With leaders from more than 50 countries and international organisations due to gather this week for the London Conference on Somalia, BBC Africa analyst and Somalia specialist Mary Harper argues that Somalia's business leaders offer reasons to hope for the war-torn country's future.

UK Prime Minister David Cameron has managed to convince some of the world's most powerful people, including UN Secretary General Ban Ki-moon and US Secretary of State Hillary Clinton, to come to London because Somalia is seen as the world's most comprehensively failed state, representing a threat to itself, the Horn of Africa region and the wider world.

The conference will focus on three issues that have already had far-reaching and devastating consequences: Piracy, terrorism and famine.

But away from the headlines and the stereotypical media images of skeletal children, skinny pirates in tiny skiffs, and gun-wielding Islamist insurgents, their heads wrapped in black and white scarves, there is another side to the Somali story that is positive, enterprising and hopeful.

Remarkable things are happening which could serve as models for a new start.

It may come as a surprise that, despite coming top of the world's Failed State Index for the past four years in a row, Somalia ranks in the top 50% of African countries on several key development indicators.

A study by the US-based Independent Institute found that Somalia came near the bottom on only three out of 13 indicators: Infant mortality; access to improved water resources and immunisation rates.

It came in the top 50% in crucial indicators like child malnutrition and life expectancy, although this may have changed since last year's famine.

"Far from chaos and economic collapse, we found that Somalia is generally doing better than when it had a state," said the institute.

"Urban businessmen, international corporations, and rural pastoralists have all functioned in a stateless Somalia, achieving standards of living for the country that are equal or superior to many other African nations."

'Freewheeling capitalism'
Of course many people in Somalia have suffered horribly during the past 20 years of state collapse, but some sectors of the economy, both traditional and modern, are positively booming.

It may come as another surprise that two northern Somali ports account for 95% of all goat and 52% of all sheep exports for the entire East African region.

According to the London-based Chatham House think-tank, the export of livestock through these ports, and the nearby port of Djibouti, represents what "is said to be the largest movement of live animal - 'on the hoof' - trade anywhere in the world".

I recently visited one of these ports, Berbera, in the self-declared Republic of Somaliland, where port manager Ali Xoorxoor told me: "I expect livestock exports from the port to increase dramatically from three million head of livestock in 2011 to 4.5 million in 2012.

"This is because of healthy demand from the Gulf, especially Saudi Arabia, and new markets emerging in Egypt, Syria and Oman. The Egyptians are especially fond of our camels, mainly for meat."

The livestock trade has exploded since Somalia's government imploded in 1991.

One trader told me exports from the northern ports alone is worth more than $2bn (£1.3bn) a year; this does not appear to be an exaggeration, when one considers that just one sheep is worth at least $30 and a camel several hundred.

Academic Peter Little found what he described as a "spectacular surge" in cross-border cattle trade from Somalia to Kenya, where cattle sales in the Kenyan town of Garissa, near the border with Somalia, grew by an "astounding" 600% in the years following the collapse of central authority.

In his book, Somalia: Economy without State, Mr Little describes how "a freewheeling, stateless capitalism" has flourished in the country.

On their way to market, Somali nomads drive their livestock through hundreds of kilometres of harsh, hostile terrain, much of it occupied by militias including the Islamist group, al-Shabab.

These nomads know how to negotiate their way through enemy territory; perhaps they have a thing or two to teach Somali politicians and international agencies struggling to get aid to those who need it most.
 
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