September 23, 2012 ·0 Comments
Having inherited Dahabshiil, his father’s disintegrating money- Transfer Company, as the conflict in Somalia worsened, Abdirashid Duale rebuilt the company and established it as the world’s leading hawala (informal fund-transfer system) outfit.
With more than 2,000 employees, a presence in 140 countries and an annual turnover of $140m, Dahabshiil is behind the phenomenal mercantile success of the Somali diaspora.
It handles a significant part of the $1.5bn in remittances received by Somalia, and plans to build a full-service bank in Somaliland’s capital, Hargeisa.
For Duale, boosting Somali business is in everyone’s interest: “Practical alternatives will protect vulnerable Somalis, particularly younger generations, from the pressure put on them by extremist groups linked to piracy and terrorism.”
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Read the original article on Theafricareport.com : The 50 most influential Africans: Abdirashid Duale | The Africa Report.com
By goth Mohamed