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SOMALILAND:Dahabshil at high profile international meeting

June 9, 2012 · 301025 Comments2012-06-09+18%3A56%3A16goth+Mohamed

A Somaliland company got the rare opportunity of participating in a high profile international meeting whose platform brought together the main players in financial, economic and commercial fields held last week in Arusha, Tanzania.

The annual African Development Bank meeting is one that brings about every year top economists, bankers and multinational companies together with government executives to ponder about the policies, ways and means of addressing the continental economic woes.

The Dahabshil group of companies which was invited to share its experience in the forum had its Chief Executive Officer Mr. Abdirashid M.S. Duale address the assembling dignitaries who included scores of trade, commerce, economy, industry, planning and finance ministers drawn from various African countries.

Incidentally Mr. Abdirashid said that Dahbshil was the only Somali owned company that was invited to the meeting. He explained that his company got the opportunity due to the fact that their money transfer services had made a great impact in the region given the large volumes of amounts of cash they repatriated, the speed and swiftness in which it was done, and most importantly, the trust they held in esteem and enjoyed by their customers. Coupled with this, he elaborates, is that the company operated in vast numbers of countries all over the world.

The group indeed has operational offices, whether fully owned or through representative agents, almost in every country on earth hence have created tangible job opportunities.

Given the backdrop of the global recession which has severely affected world economy, the meeting discussed on how income generation and economic developments can be achieved by formulating better policies to sustain conducive atmospheres for investments.

By M.A. Egge

somalilandpress,hargeisa

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By goth Mohamed

Tags: SOMALILAND:Dahabshil at high profile international meeting

moh says:

nice we job viva dahabshiil group for his strugle

1:06 pm on June 9, 2012

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osman5 says:

The massive Money transfer business is slightly fading away as the western raised Somalilander/Somali generation is getting to the workforce in Europe and North America. The new generation doesn't have significant ties back in Somaliland/Somalia as much as their parents did. As a result, the inflow money transfers back to African, will be dramatically dropped.

Thus, Dahabshill Inc. should consider in diversifying it's business portfolios and getting to the banking business by starting with small/medium partnership banking business relations with the Western financial institutions.
A lot of major banks are seeking reliable African banking sectors for joint ventures.

Osman Qaal

9:23 pm on June 9, 2012

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Omer Hussein Dualeh says:

Since the immediate family ties will continue, the new generations will continue sending something to their close family consisting of Ayeyo, Adeer, Abti and Inaadeer, but like their parents, there will not be the flow of money to whoever is distantly related individuals. Furthermore, Dahabshiil and others who has money must come together and create partnership industries, including Islamic Commercial Banks.

Islamic banking is now something even the West are ready and even certain countries have already introduced this system of banking, hence, we should not allow banks that are not Islamic.

11:51 pm on June 9, 2012

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osman5 says:

Omer Hussein Dualeh,
I don't have any issues dealing with a legit Islamic backing system. I mentioned in my comments that the major backs in the west because that's what I'm familiar with, and in fact they are actively searching new reliable partnership in Africa, Somaliland in particular.

Osman Qaal

11:54 am on June 10, 2012

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truth says:

Why is it that Dahabshiil is the only Somali company that doesn't allow its fellow Somali/Somaliland citizens to acquire shares?? Every other Somali company whether its a money transfer company or a petroleum company allows their fellow Somalis to acquire shares. You all seem to be proud but in the end of the day if you are not allowed to buy shares and prosper from Dahabshiil, it will prosper from you. Simple

4:57 am on June 17, 2012

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