Prior to the outbreak of the civil war in 1991, the roughly 53 state-owned small, medium and large manufacturing firms were foundering, with the ensuing conflict destroying many of the remaining industries. However, primarily as a result of substantial local investment by the Somali diaspora, many of these small-scale plants have re-opened and newer ones have been created. The latter include fish-canning and meat-processing plants in the northern regions, as well as about 25 factories in the Mogadishu area, which manufacture pasta, mineral water, confections, plastic bags, fabric, hides and skins, detergent and soap, aluminium, foam mattresses and pillows, fishing boats, carry out packaging, and stone processing. In 2004, an $8.3 million Coca-Cola bottling plant also opened in the city, with investors hailing from various constituencies in Somalia. Foreign investment also included multinationals including General Motors and Dole Fruit. Monetary and payment system The Central Bank of Somalia is the official monetary authority of Somalia. In terms of financial management, it is in the process of assuming the task of both formulating and implementing monetary policy. Owing to a lack of confidence in the local currency, the US dollar is widely accepted as a medium of exchange alongside the Somali shilling. Dollarization notwithstanding, the large issuance of the Somali shilling has increasingly fuelled price hikes, especially for low value transactions. According to the Central Bank, this inflationary environment is expected to come to an end as soon as the bank assumes full control of monetary policy and replaces the presently circulating currency introduced by the private sector. Although Somalia has had no central monetary authority for more than 15 years between the outbreak of the civil war in 1991 and the subsequent re-establishment of the Central Bank of Somalia in 2009, the nation's payment system is fairly advanced primarily due to the widespread existence of private money transfer operators (MTO) that have acted as informal banking networks. These remittance firms (hawalas) have become a large industry in Somalia, with an estimated US$1.6 billion annually remitted to the region by Somalis in the diaspora via money transfer companies. Most are members of the Somali Money Transfer Association (SOMTA), an umbrella organization that regulates the community's money transfer sector, or its predecessor, the Somali Financial Services Association (SFSA). The largest of the Somali MTOs is Dahabshiil, a Somali-owned firm employing more than 2,000 people across 144 countries with branches in London and