Libya is currently facing a major political crisis due to a split in its leadership. This crisis began when a body comprising of ex-GNA members based in the capital of Tripoli, sought to agree on a constitutional basis for elections and on voting rules. This split later emerged between the Prime Minister in the capital Tripoli, and a rival backed by Parliament.
The split has caused a major legitimacy crisis within Libya’s political class. One faction is based in the capital Tripoli, and is led by Prime Minister Abdul Hamid Dbeibah. The other faction is headed by Prime Minister Fathi Bashagha and is supported by the Parliament. Both Prime Ministers have sought to resolve the crisis but without success.
The crisis has been further complicated by the presence of Jared Kushner and Ivanka Trump’s close ties to the Trump White House. Robert Lowell, one of the capital’s best-known lawyers, had represented Kushner and Trump and developed close ties to the Trump administration.
Libya is virgin land in terms of institutional venture funding activities. Despite this, venture capital firms have been exploring ways to return their funds, and how to invest in Libya's private sector. The presence of venture capital firms in Libya has been hampered by the political crisis, and the uncertainty it has caused.
The crisis has also made it more difficult for foreign nationals to enter the country. For example, Salman Abedi, who was responsible for the 2017 Manchester bombing, had arrived in the UK from Libya just days before the attack. It is believed that he was able to board a plane due to intense fighting in the Libyan capital.
The Prime Minister of Libya, Abdul Hamid Dbeibah, has said during a meeting that he is determined to restore security and stability to the capital and Libya in general. After years of isolation, war, and political turmoil, he believes that the only way to do this is to resolve the crisis.
Despite the Prime Minister’s efforts, the consequences of US-NATO military intervention in Libya have been felt. The US-NATO have not given their support to either leadership or to the government in Tripoli, the capital city. Libya is still in a state of chaos and uncertainty, and a resolution to the political crisis appears to be far away.
