Somali Companies & entrepreneurs active in Africa [Archive]

Constantine MMX

January 15th, 2011, 06:17 AM

African Express Airways - Kenya

http://oi54.tinypic.com/qya4o3.jpg

African Express Airways is the second fully Kenyan designated airline to over 30 countries in four continents. The airline is largest and oldest privately owned in East Africa based at Jomo Kenyatta International Airport in Nairobi. African Express Airways is profitable, growing and short-haul airline which targets business and leisure travelers, and operates a daily departure from Nairobi. The airline has a fleet of aircrafts, and has been updating with Boeing’s modern, environmentally friendly regional jets.

From Orphan to Airline owner.

By Samwel Kumba and Justus Ondari

Seeing him seated in his spacious office along North Airport Road, Jomo Kenyatta International Airport (JKIA), one would be forgiven for assuming that Captain Musa Bulhan has had it easy in life. For Capt. Musa, the proprietor and chief executive of African Express Airways, is the first African to own an airline with landing rights in Europe.

Besides, the 59 year-old was among the first Kenyans to acquire the highest pilot qualifications- an airline transport pilot license-in 1974. But behind the ‘firsts and accolades’, Capt. Musa’s life is one hit by tragedy at a tender age and littered by internecine ‘wars’ thrown at him by both nature and man. Robbed of parental love, first by the death of his mother when he was a toddler, and then his father at 15, the decorated career pilot was forced to start fending for himself literally before he was out of the diapers.

Four years down the line, at an age when most of his playmates probably still believed that their fathers were the strongest people on earth, a gangling of a boy with intelligence beyond his age made a startling career choice- to become a pilot. Unbeknown to him, the knack to survive was to be implanted in the young Musa right from the very day he decided to be a pilot. Many of the industry players he approached dismissed him as a joker.

“Many tried to frighten and discourage me from the profession but everything they threw at me made me even more enthusiastic. They would instruct me to wake up at 4.00 am and check the oil or tyres of an aircraft. They would give me tests on all sorts of jargon which I could not understand. Then they would call me names. If I were fainthearted and uninterested in the training, I would have dropped out. I survived the ordeal,” reminisces the captain. However, not all people were bad and many, including the government which gave him a scholarship, came to his rescue when the going got tough.

“In fact, I did not have much of a problem because I got a lot of help.”
Musa was to undergo training in the United Kingdom and later in the United States after joining the defunct East African Airways. When it collapsed with the collapse of the then East African Community (EAC) in 1977, Kenya Airways (KQ) was formed. Obviously, there were too many pilots for the few airplanes the then nascent KQ had. “I felt it was high time for someone to give room. Unfortunately, I would not tell anyone else to get out. I told myself to give room with my meager Ksh 270,000 benefits,”

Aviation business

It was then that Capt. Musa decided to set up an airline. He floated the idea to the then ministry of Power and Communication but the ministry officials felt it could not work. Thinking they were getting rid of him, they gave him a temporary operating permit for him to set up the famous Pioneer Airlines at Wilson Airport in 1978.

“I never sat down to decide on investing in aviation business. I just felt that since I knew about airplanes, why not try the business? I went into aviation because I felt could not do anything else better,” reveals Musa who currently fully owns four jets which fly to the Middle East, parts ofEurope and Africa. Unfortunately, in his new venture nobody would accommodate him.

“The government, through the general manager of the then airdromes department, gave me rent-free a two-roomed kiosk-like tin shack-cum-hangar that was unoccupied. Using part of the money I was paid from my East Africa Airways service, I bought a four-seater single engine aircraft.” He was a Jack of all trades: “I would fly it during the day and do the accounting in the evening before starting to look for business at night so that I would have another charter flight the next morning.”

In 1980, Captain Musa managed to buy a twin-engine 10-seater aircraft and, with time, he was able to lure into civilian flying a few pilots who had been trained in the Air force. “In 1981 I bought a single-engine aircraft for training and opened a flying school, Pioneer flying school. By 1983, I had built up a fleet of about six aircrafts bought on lease courtesy of the then National Industrial Credit, currently NIC Bank. I think they do not remember that they funded me back then.”

But his tumultuous beginning saw him develop a penchant for philanthropy.
“Until a few years ago, many Kenyan pilots, including jet pilots, had been trained either through my company or me. Still, I believe I should put a lot of time in training my fellow Kenyans.” With his business hitting the fast lane, Capt. Musa was to flex his financial muscle by acquiring Malindi-based Coast Air Limited in 1984.

“That is when I registered Africa Express Airways to differentiate between the local and international business. By 1986, I had a fleet of about 20 light aircrafts most of which I had paid for.”The enterprising Musa was not yet done and his business antenna was tuned on the regional market. He longed for newer challenges and inter-continental flights were alluring. He went for a Ksh 50 million loan from the former Bank of Credit.

With the money and a sense of feeling that he had outgrown the domestic airspace, he approached the government for an international license-and got it. “I leased a Boeing 707 and, with a couple of ex-East African Airways and ex-Kenya Airways pilots, I started flying to Italy thereby making us the first privately owned airline in Africa to fly inter-continental flights into Europe,” declares a visibly proud Capt. Musa with a glowing face.

Away from public glare, Capt. Musa’s airline has a distinct characteristic-it is one of the country’s two designated carriers, the other being the national career, KQ. “Designated airlines are carriers governed by the state although it does not own them. They have their flight schedules published and which they must obey whether or not the flights are fully booked. On the contrary, charter operators fly only when there is enough traffic.”

Politics

By now, he was doing brisk business. In 1988, with a sense of importance and spurred by his success, Capt. Musa sold 49 per cent of the company, a move that will turn out to be a source of his future trepidations. A simple argument over finances ensued with his new partners expressing their displeasure with the way Captain Musa was handling business funds.

The partners allegedly converted their shareholding into an overdraft and successfully managed to ‘manipulate’ their bankers to recall the overdraft within a week. “I was in Europe when it happened and with the short notice, the company was placed under receivership because of slightly over Ksh 60 million. I, however, managed to pay it in 6 months through just collecting debts among other sources,” explains Capt. Musa.

With that, the company reverted to him 100 per cent and within a year, he was out of the woods. Or so he thought. A shrewd entrepreneur, having withstood the uncertainties, Capt Musa registered another company-African Airlines International Limited- in early 1990s which took over the liabilities of African Express Airways.

Shortly, he bought a Boeing 707 with which he resumed international flights. At the time, Kenya Airways (KQ) was wholly-owned by Kenyans and was maintaining Musa’s fleet. “We were cooperating well with Kenya Airways, a move that enabled us acquire a second Boeing 707. But when Kenya Airways was sold, the new investors had different interests and ‘politics’ began souring of our relationship.” At about 1988, the now streetwise captain secured financing from an international financer and built the company’s present head office at JKIA and a maintenance facility.“KQ had become less accommodating with each passing day.”

Out of the blue, once again politics was to rear its ugly head in 1999 with a number of airlines ‘sprouting up’ without any traffics rights since KQ and African Express Airways were holding them.“The people behind the mess would come asking for, say, US$ 2 million(Ksh 140 million) in 20 minutes claiming we were breaching one law or another. Failure to pay would be met by threats of being placed under receivership.”

Soon, threats were to turn into actions and Musa’s business was put under receivership.“Actually,the receive-rship notice came together with the demand.” However, the powers that be did not know that they were putting a wrong company- African Airlines International Limited-under receivership.

Describing the then regime as wanting, Capt. Musa maintains that an unnamed powerful politician went for his business jugular in a bid to acquire his airline’s traffic rights. The political hassles were to continue and by 2000, it had become extremely difficult for Musa to convince the customers that itwas African Airlines International Limited and not African Express Airways Limited that was under receivership.“The effects were so severe that I had to stop all my flights in 2000.”

It was only in 2003 that Capt. Musa was to resume the flights although the matter is still before court after he sued the financial institution over the ‘unlawful’ receivership. “Our flights and revenues were back to normal. I give credit to the current administration as it has created an enabling business environment,” says Capt. Musa with a sigh of relief. He takes a swipe at the former regime.

“Some politically correct people were given carriers’ licenses and since they depended on mostly wrong advice, their businesses collapsed. Unfortunately, during their short stint in the business, they caused so much havoc that other serious players in the sector have found it costly both interms of money and time to correct the situation.” And like the proverbial cat with nine lives, Capt. Musa is raring to go. “We are flying to some parts of Europe-French territories- but we are resuming our flights to Europe probably from next April,” vows Capt. Musa who prides himself as being too expensive for any airline to hire him but is “one of the lowly paid executives at African Express Airways Limited.”

“We are trying to fly into one country per year but, at most, we can only open two new routes annually. We have licenses to fly to some routes but we are exploring their potential and trying to find out who can be our agents in the new destinations before we make any forays.” Indeed, to attain captainship, Musa has had to put in thousands of man-hours.

“One starts with a private pilot’s license before acquiring a commercial pilot’s one. Before one takes full command of even a small two-engine jet as a pilot, it takes about ten years of co-piloting. To get command of a Boeing as a captain, it can take up to 20 years,” explains the veteran pilot.“During the entire period, one would be examined and medically checked after every six months. This presents a major problem to our youth because they lack the patience and time to learn.”

Management

Everybody in Musa’s company is a manager right from the cleaner and must work with minimum supervision, save for occasional correction where necessary. “I am equally supervised by my juniors because if I do something wrong, I am messing up their job.” Even in his hiring Capt. Musa goes for experience. Evidently his operations director Capt. Radosav Popovic who first flew in 1966 after graduating from the then Yugoslavia Airforce Academy. He is a retired pilot of a jet fighter.

Sector

He decries certain aspects of the country’s aviation industry. “We have too many people trying to do what they are not supposed to be doing. Similarly, whereas liberalization is not bad, we adopted it without examining its consequences.” Capt. Musa feels that for the industry to reclaim its pre-liberalization glory, the regulator Kenya Civil Aviation Authority (KCAA) should come up with a division charged with monitoring the commercial viability of every player in the industry.

But is the business profitable?

“Nobody will ever admit that they are making money in any business. But if we break even and I get a salary and my employees pay themselves, then obviously we are running a business which is viable.” For those interested in joining the industry, Captain has a word of advice: “First, let them join only if they have experience in the industry. Otherwise why would one want to put their money in an industry they know nothing about?”

Although his initial brush with partners left a bitter taste in his mouth, Capt. Musa is a firm believer in spread out shareholding of a business. “I am looking for strategic partners such that by the end of 2007, my family should not be the majority shareholders in the business. So far, we have done our best.”
But the offer is not open to every Tom, Dick and Harry.

“We do not want to have shareholders who are going to sit there and just tell us what to do. We want shareholders who will be involved in the day-to-day running of the business so that we share the blame in case of anything.”Once he retires, Capt. Musa does not intend to be idle. “Over the weekends, you will always find me in my farm in Garissa working. I export mangoes. On Sundays, you will find me in the bush looking after my camels and goats. So, after I retire, I will not be bored.”

What is Capt. Musa’s legacy?

“I don’t think there is much I have not done in this industry. Now I would like to dedicate myself to training young people to replace old pilots like me. My ambition is to leave competent young people running the show.” True to his word, Capt. Musa would rather we use photographs of his staff insted of his in the story. - FINANCIAL POST (www.financialpost.co.ke/Pdfs/FP%20ISSUE%20110.pdf)

Constantine MMX

January 15th, 2011, 06:21 AM

Great topic!

Aamina Xirsi is one of the largest developers in Uganda, horta is that true. I heard that.

Once Somalia rebuilds, I'm sure these developers are going to come back and make lots of $$$.

It's a family business so it would be Amina and her brothers, sisters and other relatives that are significant investors in Uganda collectively.

Second part is very true, any regeneration/reconstruction projects of the Capital should be awarded to them.:)

Constantine MMX

January 15th, 2011, 06:45 AM

Devastated at home, Somali businesses thrive in Uganda

http://www.hiiraan.com/images/sept2009/CityOilUganda.jpg
City Oil Ltd

Their history is knit with episodes of devastation – war and hunger. They have been accused of offering a safe haven to Al Qaeda terrorists. And recently, they have redefined the art of piracy, in which large ships have been captured and released after huge ransom payouts. <-- :fiddle:

Yet, despite their shattered hopes back home, the Somali community in Uganda has taken the economic landscape by storm, enjoying a commendable share of the country’s fuel industry, among other sectors. DEVAPRIYO DAS looks at this business community

GOOD SOURCING

Hassan Ahmed, a Ugandan Somali, and Director of the prominent Somali-owned City Oil franchise, hints at the secret behind Somalis’ success in business. “Somalis have always had links to many areas of the world”, he says.

“With that link, they are able to have very good sourcing. Every time you source well, it will result in benefitting the consumer, because you are able to bring the costs down.”

That strategy bodes well with Uganda’s consumers who depend heavily on imports but whose purchasing power is low. It also explains why Somali businesses have become an accepted part of Uganda’s commercial life, covering essential services like fuel stations, foreign exchange, money transfer, and supermarkets.

FUEL STATIONS

Ahmed reveals that City Oil was formed in the 1980s as Mandela Auto Spares, and started by selling spare parts. The company then graduated to selling tyres, before realising it could capture a larger market by setting up fuel stations.

“If you look at our stations, they are not your typical stations”, says Ahmed. “They are giving auxillary services that complement fuel.”Today, there are various Somali owned petrol station chains, including Hashi Empex, Hass Petroleum and Hared.

It is a competitive market, especially as global oil prices have followed no perceivable logic in the past 18 months; which also means the auxillary services provided by chains like City Oil have not automatically led to more customers in these difficult times.

“The public has been very sensitive to price,” Ahmed remarks. “We find that it’s very difficult to sell fuel if you don’t have the right price at the pump.”

Following the liberalisation of the fuel market in Uganda, Somali fuel enterprises have helped make prices more competitive. “Right now the (profit) margins are at their lowest point”, Ahmed observes.

He believes that even if Uganda commercially exploits and refines its crude oil reserves locally, Somali fuel stations would remain in business. “Because that fuel still needs to be pumped into vehicles”, he says. “A network needs to exist”.

HISTORIC LINKS

It is a network built carefully over time. The first Somalis to settle in Uganda came in colonial times, as the so-called Somali Scouts in the imperial British Army. Many stayed on and assumed Ugandan citizenship, with large numbers working in the meat industry.

Thousands are believed to have left the country during Idi Amin’s rule, returning only under the NRM Government in 1986.

The current conflict in Somalia has witnessed an influx of refugees into Uganda. Some have been settled in camps such as Nakivaale in Western Uganda, while others have been absorbed by relatives living in Kisenyi and surrounding areas.

Many have prospered, while some, like construction queen Amina Hersi Moghe, owner of the multi-million-dollar Oasis Centre and Laburnum Courts in Kampala, have defied gender and cultural stereotypes to become spectacularly successful. In fact, Ms Hersi was named Woman Investor of the Year 2008 by the Uganda Investment Authority.

GOOD RATES

Being a resilient people, Somalis have prospered because they are willing to take risks and accept smaller profits. Yassin Mattan, Head of Business Affairs for the Somali Community Association in Uganda, explains that when it comes to trade, “everyone wants to be very competitive in terms of the pricing factor, so it’s the margin that people are looking for.

While some people are looking for a higher margin, these guys [Somalis] are looking for a lower margin. They’re looking at the turnover.”Hassan Mohammed Hersi, for example, has been Manager of Half East Forex Bureau on Kampala Road, for 11 years.

“The business of exchange is all about competition and it’s very tough business,” he says. “It needs experience, needs also capital, and needs you to be a well-known person in the business for a long time.”

Born and bred in Uganda, with many business contacts, Hersi felt he could profitably run a forex business. Today, most of his clients are Indian and Chinese traders involved in high-volume import-export businesses. “It’s all about your rates,” he responds, when asked how he attracts and retains his customers.

“People know you through your rates, what good service you give them, how your location is, security, all that. if your rate is the best, they will come and buy from you and sell to you.”

BREAKING GROUND

Yassin Mattan himself took a risk by engaging in commercial farming, a first for Uganda’s Somali community. “I saw it as an opportunity, this lack of commercial farmers in Uganda,” Mattan says, “and the potential was there both as a business, and at the same time, for providing food security for the country.”

Today, his Kayunga-based Maple Farms employs 40 people, utilises scientific farming practices, concentrates on growing maize and basmati rice over 140 acres, and is generating roughly 50 tons of food grain per year via two annual harvests.

Most of the crop is sold locally as internal demand -exacerbated by food shortages and sales of Ugandan harvests in neighbouring markets like South Sudan - has skyrocketed.

[B]Recently, the Somali community in Uganda announced it would earmark Shs1.4 billion to further expand food grain production in Kayunga.

As Somalis continue to invest in Uganda’s burgeoning small and medium enterprise sector and contribute a growing share of taxes, it becomes clear: this is a community that is thriving and here to stay. - Source (http://buhodle.net/business-a-economy/55-devastated-at-home-somali-businesses-thrive-in-uganda-.html)

.....

Constantine MMX

January 15th, 2011, 07:20 AM

http://www.sweetmarias.com/Ethiopia_Dire_Dawa_Harar_2008/Ethiopia_Dire_Dawa_Harar_2008-Images/11.jpg
Mohammed Abdillahi Kahin 'Ogsadey (b.1920s-2006) was a Somali business tycoon based in Ethiopia, where he established MAO Harar Horse, the first African corporation to export coffee.

MAO Harrar Horse - Ethiopia
http://photos1.blogger.com/blogger/1161/2427/200/harrar_horse.jpg
If you think the Harrar Horse logo is popular here, you should see what it means in Ethiopia. Ogsadey’s reputation is legendary: first beginning as a truck driver, then becoming the first native African coffee exporter in Ethiopia, and ultimately, building a coffee empire which is famous throughout the county and the world. I’m not exaggerating. As soon as the horse logo and the driver of the company jeep were identified, entire villages would swarm chanting: OG-SA-DEY!-OG-SA-DEY! One might think that kind of adulation could affect one’s ego. I never saw that. Everyone was treated seriously and with respect, as if they were the biggest buyers in the world.

He once drove me to a place in the Harrar growing region three hours from his home in Dire Dawa. While listening to recorded prayers from the Koran on the tape player, Ogsadey told me a story of how, in the good old days, getting to this same place would take two to three weeks, and require winches, machetes and guns to ward off pirates, and in my imagination, big hungry animals.

He worked tirelessly to the end. In his eighties, retirement never occurred to him. Just a few years ago he invested in two big new warehouses. Hundreds of big rigs with the Harrar Horse logo are on the road. He took pride pointing out any new factories or new neon lights in Addis Ababa. He possessed a patriotic pride in his county; despite its poverty, he was ever optimistic. Perhaps a contradiction, he greatly admired both Presidents Reagan and Clinton. Reagan for bringing down that wall, and Clinton, for his tireless statesmanship and efforts to bring peace to the world, particularly in the Middle East. When the Communists took power in Ethiopia, they seized all of Ogsadey’s assets. With a big smile he would tell the story of how they could not figure out how to run the coffee business, so wisely, they gave it all back.

Never, despite frost, droughts, up markets or down markets, did we ever have concern about our contracts with MAO. Doing business was a pleasure. Straightforward, old-fashioned and old school in the most positive sense--- the words honorable and integrity come to mind. He was a tremendous mentor and influence. Together, we had the opportunity, with the help of our customers, to make some significant donations to the Dil Chora Hospital in Dire Dawa. Royal will continue charitable work in Ethiopia as long as we are in business. In this way we will continue to honor our great friend. May he rest in peace. - Robert Fulmer (http://royalcoffeenews.blogspot.com/2006/03/harrar-horse.html)

Constantine MMX

January 15th, 2011, 08:05 AM

Mataano Fashion
http://www.gorgeousnewyork.com/wp-content/uploads/2009/09/mataano_GNYsmallbadge-copy.jpg
Mataano – International Fashion Label owned By Somali Twin Sisters. Identical twins Ayaan and Idyl Mohallim were born in Somalia but moved to the United States at the age of nine. They grew up in Washington D.C., attended separate universities – one in Boston and the other in Michigan and then moved to New York City together to pursue their dream. Today, their fashion label Mataano (which means ‘twins’ in Somali) has gained them international recognition and their designs are sold to customers worldwide. - Source (http://makemoneyinafrica.com/mataano-international-fashion-label-owned-by-somali-twin-sisters-somalia-entrepreneurs-africa/)

http://www.tadias.com/wp-content/uploads/2010/10/RED-CARPET.jpg
Addis Ababa Fashion show

GkuGqJSdzU0

Xusein

January 15th, 2011, 08:40 AM

Wow, those girls are really going places.

Constantine MMX

January 15th, 2011, 08:45 AM

http://www.theeastafrican.co.ke/image/view/-/861228/highRes/81316/-/maxw/600/-/2dqhgl/-/BBK.jpg
Aden Mohammed is a prominent Somali banker and entrepreneur. He is the Managing Director of Barclays Bank in East and West Africa. - wiki

Barclays Bank earnings call a pointer to industry’s fortunes

Barclays Bank Kenya reports its full year results for 2009, that are going to shed some crucial light on the prospects of the banking industry in the country.

Equity analysts pay attention to Barclays because with its asset base now heading to $2.5 billion and its value on the Nairobi Stock Exchange pegged at $852 million, it is not only the third largest listed firm in the market, but one whose tentacles extend to all corners of the economy.

Though Barclays reported flat profit growth in the first three quarters, and profits after tax at $60 million exceeded what was achieved in the same period in 2008 by $2.6 million, the deficit for the full year looks daunting given that the economy did not perform well towards the end of the year.

Barclays revenues in 2008 were boosted by aggressive lending, which increased interest on customer lending by $63 million to $188 million out of the $360 million the company generated from an assortment of lending to customers, other banks, governments, charging fees and foreign exchange gains.

Optimism however hangs in the air as banks start releasing full year results this week going by projections coming from the Central Bank of Kenya monthly data and investment analysts.

Barclays Bank kicks off the flow when it announces its 2009 performance this Thursday with analysts predicting that the outcome will give an indication of what to expect in the first quarter of 2010.

The CBK Monthly Economic Review says that the Kenyan banking sector registered significant growth in asset base largely supported by growth in deposits, injection of capital and retention of profits.

“The sector registered high capital adequacy and liquidity ratios and a decline in the level of non-performing loans compared to same period in 2008”, says the bank.

An investment analyst with Stanbic Bank Miriam Muhindi, says the sector will most probably report a lacklustre performance in the fourth quarter considering that the sector was not as robust, but expressed optimism that with projections that the economy would grow by 4 per cent this, year, things could change. -THE EAST AFRICAN (http://www.theeastafrican.co.ke/news/-/2558/861224/-/item/1/-/vv1eg4z/-/index.html)

Constantine MMX

January 15th, 2011, 09:05 AM

http://1.bp.blogspot.com/_jWJOCio02kQ/Sd4YLEA07SI/AAAAAAAADT0/HI7qhFlLJY0/S1600-R/RE.JPG

Kenya properties
http://2.bp.blogspot.com/_eYi-eQIZElU/Sa_rQ_WpKNI/AAAAAAAAACY/X-R4hHzlF4o/s320/Karen.bmp

http://2.bp.blogspot.com/_eYi-eQIZElU/Sa_q8gn6gEI/AAAAAAAAACQ/-a9_Az9TUVY/s320/Kenya+property.jpg

http://1.bp.blogspot.com/_eYi-eQIZElU/Sa_q2CNz7_I/AAAAAAAAACI/FBp0VdRuQho/s320/Shopping+Mall+Kenya.jpg

www.redubai.blogspot.com/

popa1980

January 15th, 2011, 01:58 PM

abesha

January 15th, 2011, 04:43 PM

What an interesting topic!!

Sokotocaliphate

January 15th, 2011, 04:44 PM

This is a good topic Constantine - you are like the un-official ambassador to Somalia

abesha

January 15th, 2011, 05:09 PM

IMAN Cosmetics

http://www.enchantedwebsites.com/ew_testimonials/iman.gif

http://www.imancosmetics.com/1.0/

Her products are sold throughout the world, including Africa.

BUTEMBO21

January 15th, 2011, 10:25 PM

Like Jews, Lebanese and Chinese. Somalis are good at business because of a long history of sophisticated international maritime trade. Its in the culture. Most other African nations did not have this exposure or where they did it was run by outsiders like Arabs in EA and Berbers in WA. Its almost a cruel joke by God that the most business-minded people in SSA, probably Nigerians and Somalis come from nations with such bad recent history. Or it could have been another story....

Somalians, Nigerian/Igbo, I will add Ethiopians and Congolese/ Eastern Congolese to the list.

Anywho. I have lived next to Somalias and Ethiopians for 10 years. I can tell you that they are business brained. I admire their cohesion/know of business.

Xusein

January 16th, 2011, 05:57 AM

Abdirashid Duale, CEO of Dahabshiil, Burco-raised. :cool:

Dahabshiil has plenty of offices in Africa and is HQed in the UK/UAE so this is appropriate here.

http://salalnews.com/images/news/Abdirashid%20Duale.jpg

Interview:

CEO, Dahabshiil Transfer Service Ltd.
The emergence of a legitimate Government, coupled with an active private sector operating on the ground, is helping Somalia away from its war-tom image, to a country creating new economic and employment opportunities for the its people.

According to Abdirashid Duale, CEO of Dahabshiil, the largest international remittance business in the Horn of Africa, recognition and support from the international community is now imperative for consolidating stability in Somalia and helping its private sector succeed in the reconstruction and development of Somalia.

Duale has worked for Dahabshiil for 20 years since his school days, helping his father Mohamed develop a small family business from Somalia into a global firm that employs more than 2,000 people across 144 countries and one that launched the first ever debit card service in Somalia. He is an expert on Somali businesses and the remittance industry, and is a regular and competent keynote speaker at both international and regional conferences on issues such as remittance, emerging markets and development finance.

He recently spoke at the Political, Security and Reconstruction Conference for Somalia, co-hosted by the Turkish government and United Nations Secretary-General, Ban Ki-moon, in Istanbul, Turkey.

Over 95 per cent of the international organisations in Somalia, including the United Nations, World Health Organisation, World Bank, Oxfam and Save the Children, rely on Dahabshiil to provide payment services for their staff, contractors, government institutions and partner NGOs.

He has established a reputation as an expert in the remittance industry, and has vast experience in all areas of money transfer operations. His network includes associates in Africa, Europe, the Middle East and North America. Duale is trained in international trade and finance, invented and developed the Dahabcard loyalty scheme, and is involved in development schemes in Africa; to which Dahabshiil donate 5 per cent of profits every year.

Over a period of 20 years, Duale has founded new companies in Africa and the Middle East, and has gained a reputation as a regular keynote speaker at both international and regional conferences on issues such as remittance, emerging markets and development finance. TABJ spoke to Duale about the success and outcome of the conference.

TABJ: Hello Mr. Duale. Can you give us an idea how the conference went?

AD: The turn-out was excellent. There were representatives from 50 countries present as well as the World Bank, Africa Development Bank and international and Somali business community. We spoke in great detail about the Somalia political situation and reconstruction and redevelopment of the country; specifically, representatives of different regions were consulted as to how the private sector will help in terms of jobs, peace and topics related to those subjects. We were personally present for the third day of talks when the focus was when was on reconstruction development.

TABJ: What was some of the outcome? How can entrepreneurs help the development of the country?

AD: In certain regions were fighting is a sad reality, jobs and technical training would provide an alternate for people who feel they have no recourse. Reconstruction development is the key for change. All the international institutions I mentioned agree and are eager to work with companies like ours to create investment and jobs.

We will have a follow up meeting with the World Bank to discuss in detail how to implement plans that came out of the conference. The relation will make life easier for business to operate in Somali. Regulations will help international businesses to easily invest in the country, and also Somalian businesses to do more business internationally.

TABJ: What are the main challenges you see Somalia facing in terms of redevelopment?

AD: Historically, before 1991, Somalia had a communist system, so private and public institutions working together was not in the business culture. That has changed. Institutions are now looking to companies to work together on public roads, ports and airports, and are keen to encourage privatization.

TABJ: What, in your opinion, does Somalia offer the business community abroad?

AD: We have a great culture, certainly! Somali also has a lot of raw materials, and natural resources for export. Given the chance to trade with the world, it will create jobs and create peace and all the things we need desperately there.

TABJ: You must find your work in Somali very rewarding.

AD: Yes, absolutely. Recently, Dahabshiil set up a bank to offer banking services to all Somalis, and other communities in the region, such as Ethiopia and Uganda, who also use our services. The Dahabcard launch has been a very successful system. In many places, a debit card is considered a normal thing to have, but in Somalia, it can be a life-saving service. Debit cards and full banking service is extremely useful in the region. Initially, we didn’t know if it would be successful, but when we launched it, it was a local and regional success.

It has been challenging in certain areas, I have to be honest. It involves a lot of travel, but you can be creative and tackle one day at a time. It has been very good for us to test products we think are useful. We also do lot of corporate responsibility projects which help the Somalian community by donating money to schools and hospitals, so that really is what warms our hearts, and the business also helping our community.

Link (http://www.tabj.co.za/features/july10_features/abdirashid_duale.html)

Ras Siyan

January 16th, 2011, 10:33 AM

Interesting topic guys, keep informing us on the Somali Business community.

popa1980

January 16th, 2011, 01:02 PM

Somalians, Nigerian/Igbo, I will add Ethiopians and Congolese/ Eastern Congolese to the list.

Anywho. I have lived next to Somalias and Ethiopians for 10 years. I can tell you that they are business brained. I admire their cohesion/know of business.

And those are the countries with some of the worst histories and instability in Africa. Whereas nations like Zambia have been peaceful- its almost a waste!

Constantine MMX

January 16th, 2011, 06:31 PM

Tansoma Hotel - Dar es Salaam, Tanzania.

http://1.bp.blogspot.com/_HO8ijU76ZcQ/SmOVPVruIYI/AAAAAAAAsbA/V8o3-CFlXgM/s400/IMG_5305.jpg
http://3.bp.blogspot.com/_HO8ijU76ZcQ/SmOVPHLRaqI/AAAAAAAAsa4/LBYImywEQfM/s400/tansoma.jpg

Oceanic Bay Hotel - Bagamoyo, Tanzania
http://www.aehms.org/conf/Image3.jpg

Paradise Holiday Resort - Bagamoyo, Tanzania
http://www.paradiseresort.net/images/pic_1_big.jpg
http://www.paradiseresort.net/images/pic_8_big.jpg

Constantine MMX

January 16th, 2011, 09:33 PM

Amal Plaza - Eastleigh, Kenya

http://d3234204.a94.alitec.ws/images/Amal%20Plaza%20Nairobi.jpg

http://www.bartamaha.com/wp-content/uploads/2010/04/Eastleigh240309.jpg

Somalis create their global commercial hub in Nairobi’s Eastleigh estate.

Immediately you step-off the noisy and brightly coloured public service minibuses, a blast of hot air mixed with dust flashes across your face and a din replaces the blaring music you’ve just left behind.

Welcome to Nairobi’s Eastleigh estate, you are now at the global commercial hub of Somali entrepreneurship.

Here, paradox reigns supreme. Stores selling Islamic literature and recordings of the Koran sit right next to shops piled high with khat, a mild stimulant herb much loved by Somali men.

Motorcycles ferrying goods and people are fitted with ambulance sirens in order to manoeuvre through grid-locked traffic.

Here, all the rules you learnt in driving school are broken; it is probably the only place in Kenya where you can drive on the right side of the road!

All this pandemonium, however, masks the real story of Eastleigh; that of bustling business and cut-throat competition.

Capitalism finds its real home here; with small businesses coexisting alongside big establishments. They even compete!

Investment avenues

One of the most popular investment avenues is the restaurant business.

Somalis love their food; it stems from a long tradition of contact with Arabs and Italians, both of whom uphold culinary delights in high esteem.

After many hours of hard work — shops in Eastleigh open as early as 6 am — many businesses close for lunch with attendants raiding the countless restaurants that dot every corner of Eastleigh.

You could be forgiven for thinking this estate has the most restaurants per square kilometre in Kenya.

Wardheer Restaurant and Snacks, Big Mack Two, Chess Café, Al-Amin Restaurant, Gulf Palace Restaurant, the list is endless.

“One of the key investments in Eastleigh is the restaurant business,” says Paul Kioko, who is the manager of Kilimanjaro Food Court, popularly known as KFC. “We receive customers from all over Africa, Dubai and Europe, therefore, we need to be able to invest wisely and make our customers feel at home,” he added.

KFC sits at the epicentre of business and has become a magnet for Somali businessmen, expatriates and Kenyans looking for alternative treats

The food here features an all-rounded menu that includes Somali cuisines, African dishes and an array of fast foods.

“The day I ate in Eastleigh,” says Selma, “I felt like I was in a Moroccan wedding. The portions were huge, the meat was so tender and the spicing was perfect,” said the Moroccan student, who recently visited the estate

This success story is being replicated across town.

KFC has just opened another branch in Nairobi’s Upper Hill area while other restaurants such as Al-Yusra and City Star have opened up in the Central Business District (CBD).

Speculations remain rife over the source of wealth that fuels the economy in Eastleigh.

To answer that, one has to understand the intricacies of the tightly-knit economic networks that characterise how Somalis do business and relate with each other. You can call it informal socialism, or even better, ethnic cooperatives.

Most business ventures are funded by a consortium of distant relatives; cousins, aunts, uncles and in-laws.

For more than two decades, they have perfected the philosophy of pooling resources together for a greater good.

Most of the times, it has worked, and the times it did not, you really don’t have to bother about it. Somehow they spring back and continue from where they stopped.

Remittances from the diaspora have also added to the fast-paced tempo of Somali businesses. These money transfer are facilitated by a unique system known as Hawala.

Companies such as Dahabshiil and Kaah Express are at the forefront of these services.

The word ‘express’ attached to a company’s name bears deep significance. Money sent from the US is paid to the recipient in Nairobi instantly.

“Hawalas are very important when discussing Somali economics,” says Dahir Sheikh Ahmed, a member of the Eastleigh Business Community. “They are very effective and at some points, they are even able to deliver money to war-torn places like Somalia, where NGOs and UN agencies cant reach.”

Yet, on many occasions, money-transfer companies have come under scrutiny with accusations of money laundering, tax evasion and support for terrorist activities.

The biggest manifestation of this phenomenon came after the 9/11 attacks, when the US forcibly shut down the operations of Al-Barakat, which was the biggest Somalia-based remittance company at the time.

While the older generation haggle over the prices of commodities, children attend Quran schools known as Dugsi.

They are another prevalent facet of Somali society and life in Eastleigh. In fact, they are the alternative curriculum of early childhood education.

According to an article published by Bildhaan, a Somali studies journal; “Observers have noted that children who attend Quran schools tend to pick up learning at the formal school much faster.”

Over the years, schools have opened up in Eastleigh to serve the education needs of the younger generation.

It has, however, been hard abandoning the role of the Dugsi. Teachers have responded to this by combining both systems of education and coming up with an integrated one.

Under this system, the first lesson of the morning could be on the Quran, followed by science or mathematics and then a lesson in Arabic studies.

Macallin Hussein, a Koran teacher at a madrassa in Nairobi, says that this system of education is very limited to few estates, but might increase in the long run.

“The spread of madrassas has encouraged this system of education,” Hussein says. “So that as students learn Koran, they also do not fall back on formal education.”

Buildings in Eastleigh come up like paper castles. A mall here, a building there, a block of apartments to the right and more unfinished buildings everywhere you look.

Here, real estate is a gem. Rent rates have spiked over a very short period.

Land developers are sweating as they try to meet the seemingly insatiable demand for an unending list of tenants.

It is an architects’ Mecca, a bazaar for contractors; its like a permanent parking lot for construction equipment.

Tucked along the corners of many streets in the neighbourhood are booking offices for different bus companies.

You can count as many as 10 different companies such as Maslah, Ocean Bus Services, Gateway, Dayah, e-coach and Bilal.

They link Eastleigh and its residents with different parts of the country such as Mombasa, Garissa and refugee camps such as Kakuma and Dadaab.

Airline companies such as African Airways Express, Jubba Airlines and Daallo Airlines offer transport to different parts of the world.

These planes carry more than passengers and ordinary cargo. They ferry khat, a cash-cow for many Somali businessmen.

Everyday at 3 p.m, pick-up trucks cruising at break-neck speed make a ceremonious entry into Eastleigh carrying sacks of khat.

Some of the cargo is off-loaded and distributed locally while another batch is prepared, packaged and sent to the airport for exports in the Middle East, Somalia and the UK.

Some estimates state that up to $800,000 worth of the mild stimulant is exported daily by Somali businessmen.

“Khat was an important business venture during the 80s and 90s,” says Ahmed. “However, there is a tendency that when Somali traders make money out of it, they no longer want to work in it.” The waning interest in this business endeavour is related to the fact that khat is considered haram or prohibited by Islam.

Globalisation is causing Eastleigh to embrace diversity of businesses and division of labour.

If you have a keen eye, you will notice something interesting: Every street in Eastleigh has at least one pharmacy.

Kipanga Athumani Street, which leads to the residential quarters of Eastleigh, has nine pharmacies, some right next to each other; call it health consciousness or hypochondria.

If you one isn’t satisfied with the menus of the restaurants, the Second Avenue is fully laden with snack stands.

On offer are Somali cookies, dates and halwa, a sweet type of pastry

Everyday at 4 pm, young Somali men go around the malls selling different kinds of snacks.

You never get to experience hunger here and the pricing is quite convenient too. Think of it as quality food with a Chinese price tag.

Speaking of the Chinese, they are also here. They deliver textiles, electronics and a number of goods that are stocked in many shops in Eastleigh.

The language of money is a universal one in case you were worried about language barriers.

“Here, success is not about the beautiful business plan you have in mind. It is about taking risks,” says Suleiman Abdullahi, a university student who has lived in Eastleigh all his life.

“All the guidelines in the rulebook of entrepreneurship are broken or proven wrong. Risk plays a major component of the economy, but there is something more important; in Somali it’s called indaadheeg. Audacity.”

Away from the shiny malls and the warm ambience of Eastleigh’s restaurants, a different story is told by business stakeholders.

It is a tale of how they are forced to endure the horrid stench of raw sewerage, potholed roads and an indifferent local authority.

King-size dumpsite

These factors have combined to make Eastleigh a king-sized dumpsite.

Recently, a high court ruling on a case that was filed by three Somali businessmen stated that the Nairobi City Council shouldn’t collect taxes from over 3,000 traders until basic services are delivered to the residents.

Traders here continue to pontificate about the role they play in the country’s economy; creating employment opportunities for thousands of Kenyans, while attracting foreign investment and finance.

From khat to clothing and hospitality, this tiny neighbourhood continues to play a role in shaping a country determined to be a middle-income nation by 2030.

“We may not be the backbone of this country’s economy, but we play our bit. It would help to get a little incentive from the authorities concerned,” says Suleiman Abdullahi whose family also runs a number of businesses in the area.

“Although it is difficult to spot how things work, one certainly feels that there is good liquidity” says Joakim Arnoy about Eastleigh, a masters student from Norway. “I enjoyed it, it really felt like a Middle-Eastern bazaar.” - Business Daily Africa (http://www.businessdailyafrica.com/-/539546/1032282/-/item/0/-/36mu56z/-/index.html)

Constantine MMX

January 16th, 2011, 09:42 PM

A day in the life of Kenya’s youngest bank manager

http://www.nation.co.ke/image/view/-/1070498/highRes/220778/-/maxw/600/-/8uelejz/-/PIX.jpg

By John Makeni

It’s Wednesday morning inside Chase Bank, Eastleigh branch. Ibada Ahmed seems unfazed by the chaos outside on the famous First Avenue – matatus and trucks hooting, touts and hawkers calling for customers, and the hordes of traders and buyers going about their business.

She checks her computer, logs on and keenly goes through a document before one of the phones on her desk rings. She turns on her black swivel chair, takes the call and, after issuing instructions to the person at the other end of the line, she turns back and smiles.

“What I like most about my job is that I work in Eastleigh,” she says. “The infrastructure is bad, the drainage system is bad, but there is a lot of formal and informal banking.”

Money and banking interest Ms Ahmed a great deal for she is the manager of this branch of Chase Bank. She is also the country’s youngest bank manager at 23.

The din from a nearby construction site distracts her for a split second. Again, with one of her disarming smiles, she says: “A big complex is coming up, and it will block my view. But it is not going to be an obstruction. As a banker, you don’t see it like that; it is an opportunity for business.”

Ms Ahmed does not conform to the stereotype of the girl-next-door or the typical 23-year-old. At that age when many youth are still trying to figure out life, she is already grappling with the stuff that company chief executives worry about – shareholders, clients, business development and other similarly nerve-wracking business matters.

Dressed in a grey business suit, a red top, black shoes and a stylish headscarf, she exudes an aura of control and power and she seems unaware of her attractiveness and youth.

Her mien is mature and reflective. We later learn that she drives a Toyota Premio, a car rarely driven by the ordinary 20-something youth. The only obvious “young” thing about her is her physical looks.

Kenya’s youngest bank manager is taking the industry and social challenges in leading this bank in her stride.

A go-getter, according to her mother Khali Mohamed, Ms Ahmed says the secret of her success is balance.

Putting her hands on the table, displaying perfect nails without a trace of nail polish, she says: “You can have a life and be an achiever. It has made me be what I am. You don’t have to be a geek. I try to balance both as much as possible.”

But her family, friends and former college mates at the University of Nairobi say she is tough as nails.

“She is assertive, confident, courageous, aggressive and open-minded,” says Sue, a former college mate.

She says her ambition is driven by the desire to achieve the expectations of the bank’s shareholders and customers.

“But the most important is inspiring and bringing out the best in my staff,” she told Lifestyle.

She says it is an enriching experience to be entrusted with customers’ money. As a branch manager, she is in charge of business development and innovation while her assistant makes sure the operations run smoothly.

Six months on, there is no doubt about Ms Ahmed’s achievements in the nation’s banking industry.

Fits the bill

For starters, the Central Bank’s endorsement of her appointment shows that she fits the bill. CBK’s Bank Supervision Department, which processes corporate approvals for banking institutions in regard to opening and closing of places of business, appointment of directors and senior managers, gave her appointment the nod six months ago.

“During the job interview when I was asked by one of the senior managers what would be the biggest challenge for me, I sat very quietly, and what came to mind was motivating my staff,” says Ms Ahmed, who oversees a team of 15 staff aged between 23 and 36.

Asked if her age could be a threat to some staff, she says she is not the kind of leader who imposes things but rather one who motivates people.

“Respect is earned, and especially if you are a leader people can look up to, to offer solutions. I have managed to create a conducive working environment, where everyone’s views and opinions are valued,” she says.

Born in Mandera and raised in Nairobi, Ms Ahmed never initially imagined working for a bank. She says she viewed banking as “more mathematical” until she finished her ‘O’ level education at Star Shake Secondary School.

In 2007, she saw a job advertisement in the newspaper for a sales person at Chase Bank.

“They were looking for a junior staff for their Eastleigh branch. I applied,” she says. The salary was Sh25,000 and she says for her it was a lot of money then.

“But, with time, it became too little. I looked at the larger picture. I had to stay put and work with them,” says Ms Ahmed, who began working at Chase Bank in September 2007.

It was her drive to learn that saw her rise to the rank of manager.

She worked at the bank by day, and in the evening attended classes at the University of Nairobi, where she studied political science and communication.

“I would not say it was the easiest thing being a banker and parallel student at the same time. I had to spend extra hours studying,” she says. “That was the starting point of my career. You get to learn what happens. I was exposed to customer service, I was exposed to operations. I was able to learn. It makes you an all-round person.”

Now, numbers are not scary any more. She loves them.

“Working extra hours and asking questions you learn what the other person is doing,” she says.

Her work principle is the customer comes first. All revolves around the customer.

Although she has enjoyed immense support from her staff, Ms Ahmed says her mother has been an inspiration to her because she is also a strong-willed person.

“My mum will say no and mean it,” she says. One would easily see she is a chip off the old block.

“She is not the kind of woman that you can oppress,” says a former college mate.

An accomplished artiste with eight awards to show for acting, when she is not working at the bank, Ms Ahmed will be at home writing poetry or at Alliance Francaise or the Phoenix Theatre home base, Professional Centre, watching a play. At Star Shake, she was the head of the drama and music clubs.

Prowls bookshops

An avid reader, she also prowls bookshops “looking for best sellers”. The rest of the time, she says, she spends with her family and friends. She says her family is close-knit and she creates time to be with them.

Ms Ahmed says she is social and likes to meet new people. She is not the hard clubbing type, and she does not go out a lot but occasionally organises get-togethers with close friends for “what I would call a blissful evening or day”.

A sharp dresser, she says comfort and decency are major determinants of her choice of dress.

“Comfort is key for me and I wear what makes me look decent yet elegant,” she says. She also admits she loves shoes and has pairs for “all occasions and weather”.

She also loves to cook, especially spaghetti and rice.

“When I am in my house, I am a lady. I love cooking. Those are things that I would gladly do. I am like any other normal person. Whether I am going to get a PhD, I am going to cook and clean the house. Those are things that I would gladly do for my husband,” she says.

But marriage is not on her radar right now. She has other priorities.

“There is nothing right now,” she says, almost bashfully when asked about marriage and romance.

“I am focusing on my career. I want to do my master’s degree. There is a lot happening in my personal life at the moment. I am 23 years, life has a lot to offer. When the time comes...”

Her career comes first, then her customers and staff.

I believe in destiny. That’s why I don’t cross the line when it comes to my clients. It is business, and I keep it like that,” she says.

Her ultimate goal, she says, is to become a world-class financial consultant, public speaker and trainer. -DAILY NATION (http://www.nation.co.ke/Features/lifestyle/A%20day%20in%20the%20life%20of%20Kenyas%20youngest%20bank%20manager%20/-/1214/1070490/-/item/0/-/99llp2/-/index.html)

Constantine MMX

January 16th, 2011, 09:57 PM

http://www.uganda-visit-and-travel-guide.com/images/public-transport-uganda.jpg
The rise, fall and rise of Uganda’s rich

Hussein Shire

He’s one of the quiet tycoons. He keeps out of sight and hates showing off his wealth. But when he walks into a room, his very presence whiffs of wealth.

Shire is the owner and CEO of Gateway, one of the largest bus companies in the country - with more than 100 buses operating all over Uganda.

Gateway is also the only Ugandan company that operates a service to Kenya.

Born in Tororo, Shire, a Somali by origin started his career in the transport industry, ferrying passenger in a blue Peugeot 504 car along the Tororo – Malaba highway.

Besides this, he also had a grocery shop in Tororo town, and would sell sodas and ice (barafu) to travellers.

To date he still owns the shop.

With profits from the Peugeot and the shop, Shire bought a kamunye and a trailer. Years later, he established the Gateway Bus Company, which is a runaway success. - SOURCE (http://www.mail-archive.com/ugandanet@kym.net/msg11004.html)
http://cache.virtualtourist.com/0/4032624.jpg

Constantine MMX

January 16th, 2011, 11:00 PM

Quadron Investment Co. Ltd
http://www.ipiltd.com/wp-content/uploads/2009/12/al-safwa-project.jpg

The company owns prime land in different parts of Khartoum and has developed one of these plots as 34 grade "A" apartments, and 18 Parking spots in the basement. The developed one is in the commercial/residential area of Emmarat, and it is near the prestigious Saudi Arabian embassy (key to be turned to the buyers in February-March 2009).

Quadron is also managing an agricultural project which is a multi-purpose farm of 150 Feddans for one of its shareholders.

•Distinctive location with a quality building speciations
•Airconditioning System (Split & Window)
•Specially designed Aluminum Kitchen Cupboard Granite Counter-Built-In Oven- cooker and Microwave
•Porcelain tiles for rooms, saloon and hall
•Ceramic Tiles for bathrooms, kitchen floors and walls
•Stainless steel hand rail for stairs and balconies
•Granite main entrance floor, staircase steps and lift walls
•Aluminum windows
•Natural timber solid wood doors
•Fire alarm system and fire fighting system
•Internet Points
•Automatic Stand by generator. Set-500kva (Lighting, Elevator & Air conditioning)
•Two modern elevators (8) Persons Capacity
•Satellite Receivers System
•24 Hours Security
•CCTV System
•Inter-Call System With Video and Telephone
•Bathroom heating
•Lightning Protection System

http://quadronsd.com/alsafwa_faq.php

South Sudan

SUDAN-SOMALIA: Referendum outcome worries Somalis in South.

The question on the minds of many Somalis and other Muslims living in Southern Sudan is: should the ongoing referendum result in secession, what will happen to them?

"We are worried about our future after secession because Somalis are considered pro-Northern Sudan because we are all Muslims," Ahmed Mohamed, a Somali businessman in Juba, capital of Southern Sudan, told IRIN.

"I am from Somaliland [a self-declared independent republic in Somalia], which has a lot of similarities with the Southern Sudan, but we are Muslims. Southern Sudanese people have sensitive thoughts about Islam, because they consider it a tool used for their oppression by the Northern Sudan government in the last decades."

Ibrahim Abdalla Sheikh, an imam at a mosque in Juba, said he hoped Muslims were not in any danger.

"More than 30 percent of the Bari community in Southern Sudan are Muslim and we hope nothing will happen to us whether or not the South becomes an independent state," he said. "Of course Islam is the largest religion in [Northern] Sudan, but in the South we are the minority."

It is expected that the Southern population will vote overwhelmingly for secession in the referendum that began on 9 January.

There are an estimated 5,000 Somalis living and working in Southern Sudan. Many have businesses, mostly dealing in food and fuel.

Mohamed Ali, a Somali shopkeeper in Juba, said: "We are worried that if Southern Sudan separates from the rest of Sudan, the Southerners may say, 'Somalis have taken our businesses', as has happened in South Africa."

However, Dr Barnaba Marial Benjamin, Minister of Information for Southern Sudan, assured the Somalis and other Africans in the region they would be safe.

"Somalis and other Africans who have businesses here will have nothing to worry about whether we get our independence or not," he said.

Somalis fleeing the civil war at home have established businesses in many parts of Africa, particularly in Kenya. Many Somalis have suffered xenophobic attacks in South Africa. - Source (http://www.hiiraan.com/news2/2011/jan/sudan_somalia_referendum_outcome_worries_somalis_in_south.aspx)

Janub

January 17th, 2011, 04:10 AM

And those are the countries with some of the worst histories and instability in Africa. Whereas nations like Zambia have been peaceful- its almost a waste!

Very true and unfortunate.

I think Africans are bad at one thing and that's reaching out to each other. The idea of "African brotherhood" does not exist at all despite its popularity as a concept. Africans should end foreigners doing business in their land and invite other Africans to fill the void of expertise. Before Somali immigrants and refugees arrived in Kenya in the 90s the informal economy of Nairobi was dominated by Indians and other Asians, they used to jealously guard their resources and expertise and did not associate at all on any level with the Kenyan people. They were not even good businessmen but they had no competition because the locals were totally business illiterate. Then Somalis came and totally changed the game, forcing the Indians out of business in less than 2 years, today you are lucky to find even a single Indian vendor on the busy lanes of Kenya's street level economy. The Somalis didn't just change the game for themselves but for all Kenyans. Somalis did their business out in the open and would even tell their competitors how they'd beat them with confidence and honesty. A lot of locals picked up on this and a burgeoning trade began, everyone got involved including Ethiopians, South Sudanese, and other immigrants, and with that many Kenyan locals began to utilize this open resources to boostrap new businesses.

Africans know how to communicate with each other, when one host nation has other Africans among them, like the Zimbabweans or Somalis in South Africa or the Ugandans in South Sudan, we need to protect them so they can contribute to our way of life and diversify the knowledge we have within our borders.

As you said, some Africans have the resources while others have the expertise, and since all Africans travel among each others borders, especially Somalis and Ethiopians you'll find us in every single country on the continent, it would be wise to welcome and utilize this foreign and experienced human capital.

BUTEMBO21

January 17th, 2011, 07:06 AM

Very true and unfortunate.

I think Africans are bad at one thing and that's reaching out to each other. The idea of "African brotherhood" does not exist at all despite its popularity as a concept. Africans should end foreigners doing business in their land and invite other Africans to fill the void of expertise. Before Somali immigrants and refugees arrived in Kenya in the 90s the informal economy of Nairobi was dominated by Indians and other Asians, they used to jealously guard their resources and expertise and did not associate at all on any level with the Kenyan people. They were not even good businessmen but they had no competition because the locals were totally business illiterate. Then Somalis came and totally changed the game, forcing the Indians out of business in less than 2 years, today you are lucky to find even a single Indian vendor on the busy lanes of Kenya's street level economy. The Somalis didn't just change the game for themselves but for all Kenyans. Somalis did their business out in the open and would even tell their competitors how they'd beat them with confidence and honesty. A lot of locals picked up on this and a burgeoning trade began, everyone got involved including Ethiopians, South Sudanese, and other immigrants, and with that many Kenyan locals began to utilize this open resources to boostrap new businesses.

Africans know how to communicate with each other, when one host nation has other Africans among them, like the Zimbabweans or Somalis in South Africa or the Ugandans in South Sudan, we need to protect them so they can contribute to our way of life and diversify the knowledge we have within our borders.

As you said, some Africans have the resources while others have the expertise, and since all Africans travel among each others borders, especially Somalis and Ethiopians you'll find us in every single country on the continent, it would be wise to welcome and utilize this foreign and experienced human capital.

+1

I think as africans become more and more educated. things will change for good.

musa90

January 17th, 2011, 08:55 AM

Constantine MMX

Thanks for all the updates, keep them up! :cheers:

desert burner

January 19th, 2011, 01:51 PM

African Express Airways - Kenya

http://oi54.tinypic.com/qya4o3.jpg

^^ thanks for the topic, though it will be difficult to mention most of the somali firms, today they are in every sector in the region's economy, for the aviation industry they are more than 8 aviation companies based in Wilson airport, the biggest of all is Bluebird Aviation with more than 15 Planes.:cheers:

desert burner

January 19th, 2011, 02:12 PM

^^though i don't have time to highlight everything, i can honestly say the somalis have a strong presence in the sector of real estate, logistics, petroleum, retail, food, banking and telcommunication.

BANK:First community bank
Telecommunication: T, solitec; the firm that is laying fibre optic in many parts of the country, sahinet and many others

Real Estate: 2 Big city,s project is upcoming plus 2 giant shopping malls and 4 star hotel all in kenya within this year.
manufacturing: last yaer more than 6 factories were launched in industrial area nairobi eg shoe polish, oil manufacturing and some others.

i remember last year a somali guy did ask for franchise for Mc donald and even paid 2m dolars for upfront in canada but was told they were not for east africa at this moment by the HQ in america.

time will not allow me to, another time guys :cheers:

popa1980

January 19th, 2011, 06:02 PM

Very true and unfortunate.

I think Africans are bad at one thing and that's reaching out to each other. The idea of "African brotherhood" does not exist at all despite its popularity as a concept. Africans should end foreigners doing business in their land and invite other Africans to fill the void of expertise. Before Somali immigrants and refugees arrived in Kenya in the 90s the informal economy of Nairobi was dominated by Indians and other Asians, they used to jealously guard their resources and expertise and did not associate at all on any level with the Kenyan people. They were not even good businessmen but they had no competition because the locals were totally business illiterate. Then Somalis came and totally changed the game, forcing the Indians out of business in less than 2 years, today you are lucky to find even a single Indian vendor on the busy lanes of Kenya's street level economy. The Somalis didn't just change the game for themselves but for all Kenyans. Somalis did their business out in the open and would even tell their competitors how they'd beat them with confidence and honesty. A lot of locals picked up on this and a burgeoning trade began, everyone got involved including Ethiopians, South Sudanese, and other immigrants, and with that many Kenyan locals began to utilize this open resources to boostrap new businesses.

Africans know how to communicate with each other, when one host nation has other Africans among them, like the Zimbabweans or Somalis in South Africa or the Ugandans in South Sudan, we need to protect them so they can contribute to our way of life and diversify the knowledge we have within our borders.

As you said, some Africans have the resources while others have the expertise, and since all Africans travel among each others borders, especially Somalis and Ethiopians you'll find us in every single country on the continent, it would be wise to welcome and utilize this foreign and experienced human capital.

^^

I think its funny that people the Kenyan forumers defend their Asian community so much when it is no secret that they run monopolies and price-fixing is rife. They help each other to maintain their dominant status quo.
Everyone knows that, like the Lebanese in WA, they were helped by the colonial administration and banks to own businesses as the British knew that rich natives would be a threat. The Somalis have given them a run for their money :applause:

When are you guys going to move into local manufacturing? That would be great. To be fair, in SSAfrica I applaud the Indians and Lebanese for having the balls to go into manufacturing as its often seen as "high risk" by native Africans. In Ghana, rich people shy away from any productive enterprises.

Saying that, I think its good for natives to be dominant in each sector of their own economy.

Janub

January 19th, 2011, 09:35 PM

Saying that, I think its good for natives to be dominant in each sector of their own economy.

Its not just "good" but it should be mandatory. Asians do not associate themselves with Africans and never will, so for a country like Zambia to allow Chinese vendors to do street level business is of zero benefit. That's one of those things I liked about Somalia; everything you saw was owned by Somalis, there were no foreign communities operating independently and ostracizing locals in their own land, the only foreigners, the Arabs, were assimilated into the Somali culture and they gave to the local culture and economy and way of life. But we all know that separate Asian groups and identities won't contribute shit but loss of quality of life for locals.

Xusein

January 20th, 2011, 08:16 AM

Dr Ismail Ahmed - CEO And Founder of WorldRemit Money Transfer

https://www.worldremit.com/images/gen/ismail-ahmed.jpg

Ismail has more than 20 years' experience in international remittances as an academic researcher, compliance adviser for the United Nations and consultant for leading money transfer companies in the Horn of Africa corridor. He has an MSc with distinction, a PhD in economics from the University of London and an Executive MBA from London Business School.

https://www.worldremit.com/en/about-us

Collins Benson Goldhill assists innovative online money transfer business to raise seed capital from investors

WEBWIRE – Thursday, January 13, 2011

Collins Benson Goldhill LLP’s business services team, David Morrison and Edward Harris Hughes, acted for the innovative online money transfer business, WorldRemit Ltd in connection with its raising of circa £350,000 of investment capital. WorldRemit Limited’s CEO and founder, Dr Ismail Ahmed had been offered the investment following his success in winning a business plan competition at the London Business School.

Ismail Ahmed “ Securing investment for our business with the help of CBG has allowed us to put in place technology that provides a secure online user experience and a world class money transfer platform, which together will make money transfers much more convenient for our customers.”

David Morrison, a Partner in the Business Services Department of Collins Benson Goldhill LLP said “CBG enjoys working with people who are establishing new businesses. Taking care of the legal aspects of starting business allows our clients to concentrate on their ideas and growing their businesses. WorldRemit has made a great start and we wish Ismail and his team every success for the future.”

WorldRemit is an online money transfer system which enables families to transfer funds quickly, securely and easily from any home or office based computer using their credit or debit cards. The money can then be either collected from agents or credited to a bank or mobile phone account. Further information is available at www.worldremit.com. The business started operating in 2010 and now serves customers in over 25 countries. Dr. Ahmed recently won an entrepreneurship award at the Somali Achievements Awards ceremony – the service provides a much more convenient way for Somalis to send money home, With transfers directly to mobile accounts, recipients can save time and money as they no longer need to travel to agent locations to collect cash– and as transfers are usually for sums of less than $100, the travel costs can be a significant proportion of the sum that is being collected.

Collins Benson Goldhill LLP is a Lexcel accredited firm of west end solicitors* based on Great Portland Street (just off Oxford Circus) in Central London, which has been established for 21 years specialising in providing affordable, practical and professional advice in connection with all aspects of commercial law such as Leasehold Enfranchisement and unfair dismissal. Its business service team is experienced in advising start up and growing companies in all aspects of their business, including shareholder agreements, investment agreements, employment agreements, and commercial contracts. Further information about Collins Benson Goldhill LLP’s services can be found at www.cbglaw.co.uk.

*Lexcel is a quality mark awarded by the Law Society of England and Wales for good practice.

http://www.webwire.com/ViewPressRel.asp?aId=130141

Xusein

January 20th, 2011, 08:24 AM

^^
When are you guys going to move into local manufacturing? That would be great. To be fair, in SSAfrica I applaud the Indians and Lebanese for having the balls to go into manufacturing as its often seen as "high risk" by native Africans. In Ghana, rich people shy away from any productive enterprises.

Saying that, I think its good for natives to be dominant in each sector of their own economy.

It would be great indeed, if not in Somalia itself in other nations that have Somali communities with better infrastructure (Kenya comes to mind).

And provided when things finally calm down, they will gain the skills and revenue needed to help in the revitalization one day.

I am sure this is on the mind of 99% of Somali investors outside their countries, Somalia is a virgin land as far as investment potential is concerned.

In Somalia itself, I think the best kind of manufacturing would be through food processing. Modernizing the nomadic livestock trade into a ranching industry with halal slaughtering plants and then for export. Much better than the status quo of shipping the goats and sheep live! Investors need to pick that up because it is an instant fortune! Fishing and canning is also a big potential cash cow.

Constantine MMX

January 20th, 2011, 04:03 PM

Bluebird Aviation - Kenya
http://www.airlineupdate.com/images/airline_images/airlines_kenya/aircraft/bluebird%20fokker50.jpg

Bluebird Aviation Limited is a locally registered Kenyan aircharter company based at Wilson Airport, Nairobi. The company was incorporated in 1992. It is fully licenced to operate scheduled, non-scheduled and adhoc air charter services for passengers, cargo, medical evacuation and relief services within the East and Central African region with special emphasis on Eastern Africa.

The company’s chairman is Col. (Rtd) H.A. Farah, who is a 25 year veteran of the Kenyan Air force. Its three original co founders, all Kenyans, hold directorships within the company with some of them being retired Kenya Military Pilots who have a wide and varied experience of flying in the whole region.

The company is an active member of the Kenya Association of Air Operators, an umbrella body that champions the interests of aviation players in Kenya. -Source (http://en.wikipedia.org/wiki/Bluebird_Aviation)

Constantine MMX

January 21st, 2011, 09:09 PM

Citibank Tanzania Limited Appoints Jamal Ali Hussein as Chief Executive Officer
http://saraarnews.com/wp-content/uploads/2010/04/jamal-ali-hussein.jpg
Citi Group has appointed Mr. Jamal Ali Hussein, Chief Executive Officer for Citibank Tanzania Limited, with effect from July 1, 2010. Mr. Hussein brings to the bank over 20 years experience as an accountant, a consultant and senior banker to the local financial institution. Mr. Hussein joined the Citi Group in New York, in 1997 and served in different capacities in Trinidad and Tobago, the Bahamas, Saudi Arabia, Poland, Mexico, Britain, Indonesia and Kenya. Until his new appointment, he was CEO for Citi Bank Ivory Coast since May 2006. - Source (http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=61724432)

Xusein

January 21st, 2011, 10:33 PM

^^ Wow.

The Somalis in East Africa are really doing big things, it's even more amazing since the business laws/climate isn't as par as it is in the West.

desert burner

January 22nd, 2011, 11:07 AM

http://www.firstcommunitybank.co.ke/images/stories/fcb/bod/nathif%20photo%20web.jpg

Constantine MMX

January 25th, 2011, 10:06 AM

http://www.northlineshipping.com/images/top.jpg

http://tourdjibouti.com/img/Djibouti_port.jpg
Djibouti Port

North Line Shipping has become the first independent logistic service provider LCL/FCL in Somalia, Djibouti, Kenya, India, China, Middle East and the rest of East African region. We specialize in cargoes moving from Somalia, Djibouti, Kenya, India, China, Middle East and visa versa. We offer a full solution shipping services in U.A.E, East Africa, Europe, North America and Middle East.- Source (http://www.northlineshipping.com/)

Xusein

February 3rd, 2011, 11:50 PM

Dahabshiil Provides Vital Remittances, Says BBC

PR Newswire

LONDON, February 3, 2011 /PRNewswire/ -- By handling remittances from the international Somali diaspora, Dahabshiil provides a vital source of income for African communities and in doing so, has become Africa's largest money transfer company, according to a recent article by the BBC.

In the interview by Zeinab Badawi of the BBC, Dahabshiil's CEO, Abdirashid Duale, speaks about his company's operations in Somaliland and of the difficulties in doing business abroad that arise from the unofficial status of the region, once British-controlled, in North West Somalia.

However it is precisely this lack of formal international recognition, isolating Somaliland from official foreign aid, which makes remittance income so essential to its people, and Dahabshiil's service such an important lifeline.

The company was founded in 1970 by Abdirashid's father, Mohamed Saed Duale, and grew over the next eighteen years to become the largest remittance broker in the Horn of Africa, selling imported goods on behalf of migrant workers and transferring the proceeds to their families.

In 1988 civil war broke out, forcing half a million Somalis to flee the country. In response to this exodus and to conditions in Somalia, Dahabshiil called upon its extensive business network to establish a new venture, enabling Somali refugees to send remittances back to displaced relatives.

As the diaspora grew, so did Dahabshiil. Today it is Africa's largest money transfer operator with more than 24,000 agent locations and branches across the world. Tie-up agreements with strategic partners ensured its services reached the maximum possible number of Somali expats.

When asked by the BBC on the burning political issue of Somaliland's independence, Mr Duale was circumspect, but admitted that its unofficial status does present Dahabshiil with a challenge.

The World Bank estimates that the Somali diaspora worldwide sends around $1bn (GBP632m) each year to relatives in Somalia, a regular capital flow that has helped to bolster its economy.

The chain of payout locations is now so extensive that people living in some of the country's most remote regions have regular, easy access to funds sent to them from overseas.

Dahabshiil has remained committed to its low commission policy, charging fees significantly lower than other international providers and playing a significant role in helping to rebuild a vigorous private sector by facilitating investment in sectors such as telecoms, transport and housing, as well as in basic infrastructure, health and education.

Abdirashid Duale, CEO of Dahabshiil, added: "The fast and efficient transfer of remittances is an essential service for many people in the developing world, whose friends or family live abroad and regularly send money home.

"Dahabshiil is dedicated to assisting these communities and prides itself on its ability to provide a lifeline for people who need it most in hard to reach areas. This is why we have reliable systems and staff in some of the remotest areas."

While remittances account for its core business, Dahabshiil also provides money transfer and banking services to local businesses as well as to humanitarian and international development organisations. In fact, over 95% of international organisations operating in Somalia, including the UN, World Health Organisation, World Bank, Oxfam, Save the Children and Care International rely on Dahabshiil to make payments.

The United Nations has previously described Dahabshiil services as "the only safe and efficient option to transfer funds to projects."

SOURCE Africa Business

Read more: http://www.digitaljournal.com/pr/215084#ixzz1CwHHVlqF

http://www.digitaljournal.com/pr/215084

Constantine MMX

February 4th, 2011, 10:02 AM

LONDON, February 3, 2011 /PRNewswire/ -- By handling remittances from the international Somali diaspora, Dahabshiil provides a vital source of income for African communities and in doing so, has become Africa's largest money transfer company, according to a recent article by the BBC.

http://www.digitaljournal.com/pr/215084

That's impressive, hope they continue growing and branching out into other sectors. :cheers:

Xusein

February 5th, 2011, 08:53 AM

Their debit card venture as well as telecom in Somaliland as well as Islamic banking in Djibouti is a start to the future empire. Go Burco. :D

Janub

May 10th, 2011, 11:10 AM

Their history is knit with episodes of devastation – war and hunger. They have been accused of offering a safe haven to Al Qaeda terrorists. And recently, they have redefined the art of piracy, in which large ships have been captured and released after huge ransom payouts.

Yet, despite their shattered hopes back home, the Somali community in Uganda has taken the economic landscape by storm, enjoying a commendable share of the country’s fuel industry, among other sectors. DEVAPRIYO DAS looks at this business community.

GOOD SOURCING

Hassan Ahmed, a Ugandan Somali, and Director of the prominent Somali-owned City Oil franchise, hints at the secret behind Somalis’ success in business. “Somalis have always had links to many areas of the world”, he says.

“With that link, they are able to have very good sourcing. Every time you source well, it will result in benefitting the consumer, because you are able to bring the costs down.”

That strategy bodes well with Uganda’s consumers who depend heavily on imports but whose purchasing power is low. It also explains why Somali businesses have become an accepted part of Uganda’s commercial life, covering essential services like fuel stations, foreign exchange, money transfer, and supermarkets.

FUEL STATIONS

Ahmed reveals that City Oil was formed in the 1980s as Mandela Auto Spares, and started by selling spare parts. The company then graduated to selling tyres, before realising it could capture a larger market by setting up fuel stations.

“If you look at our stations, they are not your typical stations”, says Ahmed. “They are giving auxillary services that complement fuel.”
Today, there are various Somali owned petrol station chains, including Hashi Empex, Hass Petroleum and Hared.

It is a competitive market, especially as global oil prices have followed no perceivable logic in the past 18 months; which also means the auxillary services provided by chains like City Oil have not automatically led to more customers in these difficult times.

“The public has been very sensitive to price,” Ahmed remarks. “We find that it’s very difficult to sell fuel if you don’t have the right price at the pump.”

Following the liberalisation of the fuel market in Uganda, Somali fuel enterprises have helped make prices more competitive. “Right now the (profit) margins are at their lowest point”, Ahmed observes.

He believes that even if Uganda commercially exploits and refines its crude oil reserves locally, Somali fuel stations would remain in business. “Because that fuel still needs to be pumped into vehicles”, he says. “A network needs to exist”.

HISTORIC LINKS

It is a network built carefully over time. The first Somalis to settle in Uganda came in colonial times, as the so-called Somali Scouts in the imperial British Army. Many stayed on and assumed Ugandan citizenship, with large numbers working in the meat industry.

Thousands are believed to have left the country during Idi Amin’s rule, returning only under the NRM Government in 1986.

The current conflict in Somalia has witnessed an influx of refugees into Uganda. Some have been settled in camps such as Nakivaale in Western Uganda, while others have been absorbed by relatives living in Kisenyi and surrounding areas.

Many have prospered, while some, like construction queen Amina Hersi Moghe, owner of the multi-million-dollar Oasis Centre and Laburnum Courts in Kampala, have defied gender and cultural stereotypes to become spectacularly successful. In fact, Ms Hersi was named Woman Investor of the Year 2008 by the Uganda Investment Authority.

GOOD RATES

Being a resilient people, Somalis have prospered because they are willing to take risks and accept smaller profits. Yassin Mattan, Head of Business Affairs for the Somali Community Association in Uganda, explains that when it comes to trade, “everyone wants to be very competitive in terms of the pricing factor, so it’s the margin that people are looking for.

While some people are looking for a higher margin, these guys [Somalis] are looking for a lower margin. They’re looking at the turnover.”
Hassan Mohammed Hersi, for example, has been Manager of Half East Forex Bureau on Kampala Road, for 11 years.

“The business of exchange is all about competition and it’s very tough business,” he says. “It needs experience, needs also capital, and needs you to be a well-known person in the business for a long time.”

Born and bred in Uganda, with many business contacts, Hersi felt he could profitably run a forex business.
Today, most of his clients are Indian and Chinese traders involved in high-volume import-export businesses. “It’s all about your rates,” he responds, when asked how he attracts and retains his customers.

“People know you through your rates, what good service you give them, how your location is, security, all that. [But] if your rate is the best, they will come and buy from you and sell to you.”

BREAKING GROUND

Yassin Mattan himself took a risk by engaging in commercial farming, a first for Uganda’s Somali community. “I saw it as an opportunity, this lack of commercial farmers in Uganda,” Mattan says, “and the potential was there both as a business, and at the same time, for
providing food security for the country.”

Today, his Kayunga-based Maple Farms employs 40 people, utilises scientific farming practices, concentrates on growing maize and basmati rice over 140 acres, and is generating roughly 50 tons of food grain per year via two annual harvests.

Most of the crop is sold locally as internal demand -exacerbated by food shortages and sales of Ugandan harvests in neighbouring markets like South Sudan - has skyrocketed.

Recently, the Somali community in Uganda announced it would earmark Shs1.4 billion to further expand food grain production in Kayunga.

As Somalis continue to invest in Uganda’s burgeoning small and medium enterprise sector and contribute a growing share of taxes, it becomes clear: this is a community that is thriving and here to stay.

xJamaax

May 10th, 2011, 08:51 PM

http://www.theeastafrican.co.ke/image/view/-/861228/highRes/81325/-/maxw/600/-/5mrdt5z/-/BBK.jpg

Aden Mohammed-Kenyan Somali (?)
Barclays Managing Director for East and West Africa!

nairoberry

May 11th, 2011, 02:07 AM

^^

I think its funny that people the Kenyan forumers defend their Asian community so much when it is no secret that they run monopolies and price-fixing is rife.

:ohno:

why should i even bother with you.

anyways, i miss eatleigh man(called isich by nairobians) i used to go to eastleigh the one close by the airforce base(that is eastleigh line saba, right? or is it line 8?) i used to take a matatu(public service vehicles) from imara daima(off of mombasa road) go to town(to fleece money from my sister) then take another matatu(remember there was a matatu that used to ply the eastleigh route called three 6 maafia?) to estleigh eat some good somali or indian food, and then walk over the little bridge into outering estate-maringo estate-and jericho because most of my friends used to live there(sometimes i would walk to buru buru cross mutindwa market into umoja estate). then i would take another matatu from jogoo road to pipeline and then walk past daytona club and back into imara daima. GOOD TIMES MAN

if you have lived in eastlands you know what i am talking about. westlands can go kick rocks

just writting all that made me miss homesick. i miss nariobi with all its chaotic lifestyle. THERE IS NO CITY LIKE NAIROBI IN AFRICA.

Xusein

May 11th, 2011, 08:27 AM

Eastleigh is pretty famous among Somalis. I know people who have lived there in the past.

I don't want to turn this into a "photo thread" but business there seems to be flourishing.

Looks like Muqdisho would be like if it wasn't partly a warzone.

http://img156.imageshack.us/img156/7536/grandroyalhotel1.jpg
http://img156.imageshack.us/img156/7536/grandroyalhotel1.jpg

http://img577.imageshack.us/img577/3393/dsc01731oi.jpg
http://img577.imageshack.us/img577/3393/dsc01731oi.jpg

http://img137.imageshack.us/img137/5380/nomadpalacehotel.jpg
http://img137.imageshack.us/img137/5380/nomadpalacehotel.jpg

Xusein

May 11th, 2011, 08:33 AM

Opened a few weeks ago.

Nairobi Star: Yussuf Haji Opens Madina Mall

http://4.bp.blogspot.com/-lxGhSnFncE0/TbTcdQiaYQI/AAAAAAAAAK0/Y450jMA5Org/s1600/medinamall2.bmp

The rapidly evolving face of Eastleigh is now host to one of Nairobi's newest commercial buildings as Madina Mall opens its doors. The modern multipurpose building will be officially opened for business tomorrow by the Minister for Defence Yusuf Haji, according to Dr Faisal Guhad of Al-Bushra Properties Ltd.

The building, located along First Avenue Eastleigh, consists of a supermarket in the basement, a 99-room modern hotel which will occupy several floors, a hospital facility with maternity, dental and in-patient and out-patient wards, offices and shop stalls.

The shops occupy the ground floor while the offices, internet café, and a restaurant sit on the first floor. The mall also hosts a conference hall, a mosque and gym facility on the fifth floor.

http://garissacity.blogspot.com/2011/04/nairobi-star-yussuf-haji-opens-madina.html

Video of the opening (in Somali).

FkT2c-r28HY

Ayatulahi

May 15th, 2011, 10:54 PM

Grand Royal Hotel, Eastleigh, Nairobi

8WFpHn1Lz5M

http://eastleighbusiness.com/wp-content/uploads/2011/01/OUT-LOOKING-HOTEL-NEW-250x262.jpg

http://eastleighbusiness.com/wp-content/uploads/2011/01/1st-reception-560x342.jpg

http://eastleighbusiness.com/wp-content/uploads/2011/01/Main-reception-560x367.jpg

http://eastleighbusiness.com/wp-content/uploads/2011/01/Restaurant-1-560x303.jpg

http://eastleighbusiness.com/wp-content/uploads/2011/01/Restaurant-2-560x404.jpg

http://eastleighbusiness.com/wp-content/uploads/2011/01/Juice-zone1-560x420.jpg

http://eastleighbusiness.com/wp-content/uploads/2011/01/Confrence-1-560x350.jpg

http://eastleighbusiness.com/wp-content/uploads/2011/01/Room-1.jpg

http://eastleighbusiness.com/wp-content/uploads/2011/01/Room-2.jpg

Kenguy

May 18th, 2011, 04:57 PM

^^
If it wasn't for the nearby airbase, most of those buildings would be taller. Eastleigh would rival other upcoming areas in Nairobi like Upperhill and Westlands.

BUTEMBO21

May 19th, 2011, 01:49 AM

Hence me respect for Somalis.

Constantine MMX

May 20th, 2011, 09:13 PM

The major plus about Somali businesses in other African countries is that the majority of their profits goes back into the local economy of that country. These businesses main benefit for Somali merchants based in Somalia itself is the opening of new markets, and potential overseas partners.

That's a win-win situation.

Xusein

May 21st, 2011, 05:23 AM

True. I can see many joint ventures being made between these businessmen and ones based in Somalia when times are good. People are just waiting to build their cash until the real boom: when Somalia is finally stable enough to see investment. There will be millionaires made, I tell you!

Xusein

May 27th, 2011, 08:09 AM

Money man serves the Somali diaspora

By Katrina Manson
Published: May 24 2011 21:25 | Last updated: May 24 2011 21:25

http://media.ft.com/cms/6a65cdb4-862c-11e0-9e2c-00144feabdc0.jpg

Aged eight, Abdirashid Duale would rush back from school to take his place in the family’s small shop in Burao, a dusty livestock trading town in Somaliland, selling everything from clothes and shoes to flour and sugar.

Today he divides his time between London and Hargeisa, the capital of Somaliland, an autonomous region of Somalia that declared independence in 1991, and is the chief executive of Dahabshiil, a global money transfer company that operates through 24,000 outlets in 144 countries. Dahabshiil also offers debit cards, reward points and SMS notification services and, soon, Somaliland’s first fully operational bank which is currently under construction in the capital.

“From a very early age I got used to talking to adults ... while other friends or even my brothers used to play football, for me my fun was to stay in the store, and sell people goods,” he says. He even drove his father’s car, at age 13. “I was in competition with other people who were working for my father, so I wanted to be useful and serve him,” he says, speaking in the garden of a Nairobi restaurant.

In four decades, Dahabshiil has evolved into an internation*al bus*iness that uses the most modern technology. However, working in Somalia, a failed state, means danger has never been far away: in 2009, two workers were killed in an attack by al-Shabaab, an Islamist group, forcing the business to close half its 50 or so Mogadishu outlets. To this day, the company sometimes transports cash hidden in cars. Mr Duale thinks the company’s best protection is its local approach: “We are ‘money without borders’ – people need us. Customers see us as a part of them. We’re bringing money to them, not guns, so they will look after us.”

The business was transformed from the shop of Mr Duale’s 1970s childhood into a global business by finding opportunities in a string of calamities that have befallen Somalia – from poverty to war and terrorism.

For the family’s story is also the story of the Somali diaspora. Poverty and trade first sent Somalis to Yemen, Dubai and the Middle East. In 1991, the capital Mogadishu was overwhelmed by fighting between rival groups, earning Somalia its label as a failed state. Perhaps 1m Somalis scattered throughout east Africa but also to the Middle East, Australia, Europe and North America. “After 1991 all the Somalis were displaced in a way,” says Mr Duale. “I’m one of them, so we know where they live, how to communicate with them and serve them.”

Mr Duale says his company handles remittances of $200m a year to east African countries outside Somalia, and that the company also remits a large proportion of an estimated $1.6bn sent back to Somalia every year, making it the largest money-transfer service in the Horn of Africa.

Yet Dahabshiil started by default, a device to overcome one of many challenges in running a business in Somalia. In order to stock the latest shoes from Milan, Mr Duale’s father, Mo*hamed Saed Duale, needed hard currency for purchases from the trading hub of Yemen. Meanwhile, the Somali diaspora was keen to send money home, so Mr Duale’s father would collect hard currency from them in Yemen to buy the shoes, then hand the money over to the “lenders’” family members in Burao in local currency, making an additional cut on the exchange rate. Remarkably, rather than pay interest, he had found a way to turn a profit on borrowing.

That sideline would become the heart of the business. But it was not always clear it would be that way. Mr Duale can still remember when a liberation force invaded one day in 1988, and the defending regime res*ponded with bombs: “There was blood everywhere – we couldn’t stay. We left our car, our shop, our house, everything.”

The family fled to live among nom*adic herdsmen and eventually his father reached the Ethiopian border, found Somalis in desperate need of sending and receiving money, and set about making it happen. The business model soon changed, as no one want*ed rapidly depreciating local currency. Instead, the company made a double cut by charging a commission and operating a currency exchange service situated in its outlets, a model it keeps to this day.

Getting money back to Somalia was often risky and, in some countries, restricted. “You can manage to hide $200,000 yourself if you know the technique,” says Mr Duale of people’s ef*forts to secrete cash.

Another hurdle to expansion was regulations. When Mr Duale registered as a teenage sole trader in London’s East End, home to waves of immigrants over centuries, to set up the first European branch of Dahabshiil, he met an alien way of doing business: “I knew Somalis, I knew how to serve them, but I did not know about formality – in Burao you don’t need accountants, lawyers, a bank.” Despite his unsteady English, he found an accountant, bought a guide to doing business in 12 European countries and began unravelling the red tape, working seven days a week.

Dahabshiil has been so good at complying with host countries’ regulations that it won customers when al-Barakat, one of its Somali competitors, was shut down by the US after the September 11 2001 terror attacks. Mr Duale insists that no money within Dahabshiil funds pir*acy – an*other Somali blight – or terrorism, and regularly co-operates with international agencies when asked.

The father-and-son team plays to its strengths, especially when it comes to understanding the culture in which the company operates. Mr Duale looks after the western side of the business and his father, now chairman, looks after Africa. The strategy has helped the company keep up with developments: today, funds can be transferred online in minutes, and it uses Facebook and Twitter, alongside developing its banking and tele*coms operations as part of Dahabshiil’s expansion.

Although they work as a team and, as a boy Mr Duale hankered to be like his father, relations are not always straightforward: “Sometimes you don’t know – are you talking to your boss or are you talking to your father? When he tells me my mistakes is he talking to his son or to his staff? Sometimes you would like things to be a little bit separate.”

Doing business in hard places

Abdirashid Duale learnt how to expand the family business amid war, poverty and even the strictures of doing business in the west.

● Start young. “In Burao [town], you can take more responsibility from a very early age: you become more mature by doing this kind of activity. It was job training from a very early age.”

● Serve your community. “Without knowing your people as your customers and your staff, and them trusting you, you cannot be in business. I knew Somalis, I knew how to serve them, so it was not some sophisticated customer I had to find.”

● Adapt. “I could have said ‘I don’t want to expand in Europe – it’s too much, it’s not easy to be in that field with a different language’ but I didn’t. I said: ‘I have to get used to it.’ And then I came back to Somaliland ... and I had to re-educate myself.”

● Market yourself. Dahabshiil took on a UK public relations agency to deal with international press interest when the company issued its first debit card in Somalia, which was – and remains – a failed state.

● Do what you love. “It’s by feeling passionate about it that you expand your business.”

http://www.ft.com/cms/s/0/afae0e64-8630-11e0-9e2c-00144feabdc0.html#axzz1NWulQywX

Constantine MMX

May 27th, 2011, 10:08 PM

http://www.hashienergy.com/components/com_gk3_photoslide/thumbs_big/232110ani6.jpg

Hashi Energy Ltd was founded in Kenya in 1991 by Mr & Mrs. Hashi. The company was known as Hashi Empex Ltd before undergoing corporate re-branding in 2008

http://www.hashienergy.com/images/stories/hashi/history2.jpg

Hashi Energy Ltd started out as a Kerosene distributor for Chevron Kenya Ltd then known as Caltex Oil Kenya Ltd. The Company engaged in filling Kerosene Jerricans in Mombasa and distributing to Rwanda and DRC markets. These markets were challenging, with unfavourable terrains and political instability.

In the mid 1990s Hashi Energy acquired depots in Eldoret and Kisumu and used these facilities to supply Kerosene to the western Kenyan market and to export to DRC, Rwanda and Burundi.

In 1996 Hashi Energy Uganda Ltd was incorporated as a subsidiary to Hashi Energy Ltd. The company began selling bulk fuel to customers in Uganda and DRC. In 2001 the company acquired a depot in Jinja which was used as an operational hub for the Uganda market. Thereafter the company acquired several service stations and mini depots in Jinja, Kampala and its neighboring towns.

In 2007 Hashi Rwanda SARL was formed in Kigali, 2 years later the company acquired 2 service stations in Kigali.

Our Business

Hashi Energy’s core business is importation, distribution and marketing of refined petroleum products; the company is one of the oldest indigenous oil marketing companies in Kenya.

Over the years the company has grown to become a major player in the Oil business supplying over 240 million lts of petroleum products annually to the East African region. The company has a capacity to supply 360 million litres per year.

http://www.hashienergy.com/

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Ras Siyan

May 27th, 2011, 11:05 PM

I'm impressed! Now WTF is our government waiting in to call these brothers to invest in Djibouti :bash:

Somaliyei Djibouti maalgaliya, anaka isku dadee!!!

Janub

May 28th, 2011, 06:52 AM

I'm impressed! Now WTF is our government waiting in to call these brothers to invest in Djibouti :bash:

Somaliyei Djibouti maalgaliya, anaka isku dadee!!!

Djibouti has few benefits. A Somali can open a business in the center of Tanzania or Uganda and he can automatically link up over 100 million customers from Zambia to South Sudan who are settled and rapidly urbanizing. Same with Kenya. The land is cheap, taxes are low, and the governments in the region are all very business-friendly.

But setting up a business in Djibouti is a hassle. The land is expensive, there are few venues for importing and exporting and they're always expensive, the wider region [Eritrea, Somalia, East Sudan, Ethiopia, Yemen] is largely nomadic, not modernizing, and will have a low purchasing power for the foreseeable future; the only expendable cash is usually saved for dry season for necessities so there's no space for leisure spending. The governments in the region with the exception of Somalia are all authoritarian and punish free enterprise.

Its unfortunate but the answer is a no-brainer. The Horn is a terrible place to setup a commodities or service-based business while East Africa is famed for this sort of thing, and Somalis always enter service & commodities businesses. The Horn would be great only for manufacturing and no Somalis do manufacturing.

Xusein

May 30th, 2011, 02:06 AM

Janub

May 30th, 2011, 03:19 AM

There are a few Somali investors in Djibouti AFAIK but they have strong connections to the government.

I'd say that the hardest thing for outsiders to go to the Horn isn't nomadism but the fact that it is a very hostile environment for newcomers with no connections. One of the reasons why Kenya has prospered in comparison is due to their relative tolerance to outsiders.

When I said nomadism I was referring to how the lifestyle affects the stability of the customers as well as the frugality of nomads compared to settled people who have a lot more to spend on average. There's a tiny income base in the region surrounding Djibouti. But you're totally on-point with the second part, the hostility of the environment is a huge negative but its entirely the result of the region's authoritarian governments and the lack of economic freedom in general. In Kenya there are no controls, no government standing over your shoulders and so forth, such is the opposite in the Horn.

Xusein

May 30th, 2011, 08:01 AM

Janub

May 30th, 2011, 09:46 AM

I'd say it's half from the government and half from the general attitude by most in the region so I get your point now. The harsh environment has made people stick to their own while eschewing outsiders. Also doesn't help that the most historically forward regions are currently under a transitional period ATM.

Djibouti is more cosmopolitan in comparison especially to it's surroundings and theoretically has more potential as an expat Somali hub (they are mostly Somali Muslim after all, while Nairobi is not) but I think investors have found Kenya to have better gains due to market size and freedom, and now you see places like Eastleigh that are big. All about economies of scale I presume.

When it comes to business, people don't care about ethnicity or religion. If such was the case, Somalis would be investing in Mombasa and not Nairobi. I honestly don't think Somali entrepreneurs will trade East Africa for the Horn or Djibouti at any point in the future. Djibouti's economy is too formal, too controlled. And now that the major companies are rolling in, typical mid-level Somali companies can't even compete. Outside of Somalis, people in the horn are generally very frugal and cheapskate, and the mentality in the region just won't allow the average person to move ahead that fast or to have ambitions, people are stuck in a cycle and a culture that chastises change, alongside a long contemporary culture of socialism. Its just impossible to compare EA with HOA in terms of conducting business and trade, its night and day, and the potentials for both regions aren't the same either.

When I think of Kenya I think of FREEDOM. Crime, yes, corruption, yes, but I physically FEEL free when I'm there. When I step inside the Horn I feel like I just walked into a prison, the whole region is a mini-North Korea, full of communist/socialist trash mindset and authoritarian dickheads down to the police, even bribes won't save you.

The EAC states did something right at some point, and its paying off. My experiences in the region (not Djibouti in specific) led me to believe that things just won't change in terms of street-level economies. If Somalis could have successful businesses in the Horn outside of Somalia, they would. But they don't, for good reason. And now that the seeds have been sown and people see the fruits of the region, Somalis will be a permanent and exclusive fixture in the EAC.

Constantine MMX

May 30th, 2011, 02:58 PM

The Horn countries are ruled by Siad Barre type of governments i.e "strongmen". While we know from history that countries with such governments are capable of making serious gains in education, health-care and a growing - controlled - economy, their private sectors are usually small or non-existant, hence an independent entrepreneur or company from any of those countries will find it difficult to flourish without heavy government involvement, which is dangerous in the long run because without a strong private sector there is a big chance the entire economy collapses during a major political crisis, because the economy is not independent enough to continue operating without heavy government involvement.

In Djibouti there are more than 90 Somali expat companies busy in Real-Estate and Banking, who have come together under the umbrella conglemerate;SIBC ("Somali Investment Business Council"). The ceremonial head stone of a 30+ million USD residential project by SIBC was laid by the country's president roughly three months ago, here is a google translation from the French article:

http://www.somaliinvestment.com/userfiles/part1.jpghttp://www.somaliinvestment.com/userfiles/part2.jpg

06/03/2011 - The Head of State laid the foundation stone of the future residential city and commercial center of the Somali society Al-Rayan.

The President of the Republic has asked this morning the first stone of the future residential city and commercial center of the Somali society Al-Rayan for property development.

Besides the Head of State, the event brought together to Gabode two officials, including the First Lady, Kadra Mahamoud, Prime Minister, Mr. Mohamed Dileita Dileita, the Assembly President, Mr Idriss Ali Arnaoud , members of governments, parliamentarians, and an audience of officials from various backgrounds.

It is on the former site adjacent to the barracks of the 13th Demi Brigade of the French Foreign Legion (13th DBLE) that the future will be built housing complex and shopping center of Al-Rayan for property development.

Al-Rayan is a company based in Djibouti, 16 January 2008 and involved in property development in accordance with Islamic Sharia. The founders of this company are of Somali businessmen who are members of the forum of business'' and Somali Business Investment Council,'' which has its headquarters in Djibouti.

Sheikh Ahmed Ali Djimaleh, Chairman of the Board of Directors''and Somali Business Investment Council was'' in a brief speech on this occasion highlighted the reasons why the Board of Somali businessmen coming s install in Djibouti.

The Sheikh said in the sense that apart from its attractive investment code, he considered his second home Djibouti.

Sheikh Issa Wardhere Ali, Chairman of the Board of Directors of Al-Rayan, for its part indicated that the Al-Rayan for property development in Djibouti intended to implement many ambitious projects.

Taking his turn to speak, the President of the Republic, in a brief speech on the occasion, stressed the spirit of privileged partnership, which motivates the activities of Al-Rayan, evidence that many men Somali businessmen are now able to invest in Djibouti, contributing to its development.

President Guelleh moreover called on them to support the efforts of the Government of Djibouti in the context of combating poverty.

In other words, the Head of State urged the upcoming special support to orphans and the poorest populations who are vulnerable as many layers.

After the ceremony, the President of the Republic has unveiled the inaugural plaque of the project, giving the kickoff to the construction of what would become short-term future residential city and commercial center of society Somali Al-Rayan. Link (http://www.adi.dj/fr/services.php?m=article&id=132206&a=1)

TheDudebusters

May 31st, 2011, 07:28 AM

I'm impressed! Now WTF is our government waiting in to call these brothers to invest in Djibouti :bash:

Somaliyei Djibouti maalgaliya, anaka isku dadee!!!
Ismail Omar Guelleh did nothing for the country :ohno:

Camellete

July 11th, 2011, 01:10 AM

WOW just WOW.
Business is what Somalis know best! Mashallah.

Great topic btw.

Yoniii

July 11th, 2011, 02:31 AM

I'd say that the hardest thing for outsiders to go to the Horn isn't nomadism but the fact that it is a very hostile environment for newcomers with no connections.
Very true. The shops in Addis for example are filled with Chinese goods, but the owners are all locals. I don't remember seeing a single Chinese shop owner, yet you read about all these problems in other African countries with them taking over the markets etc.

Pretty interesting developments going on in Kenya, I like the Nomadic hotel.

Constantine MMX

July 16th, 2011, 10:42 PM

http://www.ancorasuites.com/images/links/top01.jpg
The area of Bazaruto Archipelago is one of the protected National Parks of Mozambique and all the islands have no roads, no shops, no tourist attractions; it is just fantastic natural beauty. Hotel Âncora de Vilankulo, is the gate-way of the Bazaruto Archipelago at Vilankulo without the lofty cost of staying at the islands. Moreover, get sense of the culture Vilankulo town and the history of Inhambane Province, terra de bom gente. Visit the local markets and shop from the art exhibitions. Hotel Âncora de Vilankulo is easily accessible, located just 15 minutes by car from the Vilankulo National Airport.

We are about 700 km from Maputo city and approximately 2 hours flight from Johannesburg. Hotel Âncora de Vilankulo wraps you in comfort, provides you with the best of culinary delights, and leaves you to have some of the most exhilarating experiences you have ever had in your life time - either on land or at sea. So, why wait? Take the opportunity to realize your dream at Complexo Âncora de Vilankulo.

Hotel Âncora de Vilankulo presents you the opportunity to experience the unaffected charm of the Bazaruto Archipelago of Mozambique which consists of 5 tropical islands (Bazaruto,Benguera, Margaruque, Banque and Santa Carolina). The area offers an ideal vacation of a life time, by presenting to you with unspoiled coral beaches, scuba diving, sknokling, top-notch deep sea fishing and salt water fly fishing.

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http://www.ancorasuites.com/

Janub

July 16th, 2011, 11:15 PM

I was speaking to a junior partner at my company, it turns out his brother and a few other Somalis in East Africa are already setting up shop in Angola - its the next frontier for the Somali trade network, and from there I foresee West Africa opening up for us at last. We have yet to even penetrate Congo due to the inability to pass the tough Eastern provinces, once that gets quieted down we'll be connecting Kismayo port in Somalia to mines in Katanga - now that'll be something.

Xusein

July 16th, 2011, 11:56 PM

That hotel is great, love the tropical location. Somalis are going places...I wouldn't imagine them in Mozambique and Angola, but wow.

abesha

July 17th, 2011, 12:45 AM

That's a lovely hotel. I'd love to visit and chill by the beach.

desert burner

July 17th, 2011, 03:43 PM

That hotel is great, love the tropical location. Somalis are going places...I wouldn't imagine them in Mozambique and Angola, but wow.

^^ mozambique issue was long time and i was told around 40000 Somalis have different kind of business all over the country, while the issue of Angola just started 3 years ago but the pace is totally remarkable because i have over 6 relatives who have shops there and it will be a matter of time

bantugbro

July 18th, 2011, 06:29 PM

Naturally, people of Somali descent are hard working and posses a very good business acumen...

Constantine MMX

October 11th, 2011, 06:55 PM

http://ainushamsi-hauliers.com/popups/trucks04.jpg
Somali operators (both Somalian and Kenyan-Somalis) have established direct bus lines such as E-couch, Maslah, Crown and Garissa Bus. These buses also link Nairobi to other East African capitals and major cities. In Nairobi, Somalis have also entered the matatu (minibus) business, which began as an informal mode of transport but was later legalized and now forms a key part of the public transportation system.

In the last 17 years, over ten Somali trucking companies have been formed in Kenya. With an initial capital investment of around $5 million each these now show substantial annual profits of around $20 million. Leading companies such as Awale, Tipper Freighters, Dakawe and Ainu-Shamsi Transporters own hundreds of trucks each. There are also many individually owned and run truck companies operating with two to six trucks, and this growing sector plays a very significant role in Kenyan transport market.Source (http://docs.google.com/viewer?a=v&q=cache:G475lOAriyAJ:www.chathamhouse.org/sites/default/files/public/Research/Africa/bp0311_abdulsamed.pdf+somali+investment+1.5+billion+chatman&hl=en&gl=uk&pid=bl&srcid=ADGEESiavMjCk54sb50llzeGvmH9g6QWh30eKoUZ1kn4zZen6k1LdLpg0MJIYsKiULphY2fcE3yk6F7_O4dBXU5-PZG79SCqLlpt9f3uTvL9JNDUSJWOO27YY6-3dtQYJdL482TWqind&sig=AHIEtbTJNKkoWnmrx8jwCTICRJM7omN1pw)

Constantine MMX

October 11th, 2011, 07:04 PM

Bashir Awale - Managing Director, Stanbic Tanzania.
http://4.bp.blogspot.com/_mqjENGefutg/S-BQ2sGnADI/AAAAAAAAHUg/7txPnkFq9s4/s1600/2.JPG

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Stanbic introduces collateral-free loans .

By ABDUEL ELINAZA, 5th October 2011

STANBIC Bank on Wednesday launched a new scheme that offers small and medium enterprise an opportunity to secure loans with no collaterals or securities.

The product known as SMEs Express Loans (SEL) just requires the applicant to pass a psychometric- a measurement of knowledge test- that determines the success or failure of obtaining the loan and the amount to be borrowed.

Stanbic Tanzania Managing Director, Bashir Awale, said after passing the test, it will only take three business days to get the loan up to 30m/-.

“It is an unsecured loan, which is tailor made for each person’s needs,” Mr Awale said yesterday at soft ceremony when launching the product.

This is the first time this kind of the product to be introduced in the Tanzanian market.

“It is a fastest and hassle free product which will enable many traders to have access to funding to promote their businesses,” he said.

The product has come at a time when accessing loans for SMEs is a headache because most businesses are shunned by financial institutions which demand heavy securities and collaterals.

He said the test is very simple and it has proved to be a good product which has hit the market with a bang.

“Since the product was introduced in the market two weeks ago, our Kariakoo branch served over 150 traders who secured loans totalling 1.5bn/-'', he said.

The same product is operational in Ghana, Kenya and Nigeria. “Our intention is to move our customers forward and grow with them while growing their businesses,” Mr Awale said.

Speaking at the same occasion, Head of SMEs Banking, Mr Adelhem Msiagi said the test uses a special programme that determines the level of loans to each applicant.

He added that the product is expected to be rolled out to the rest of the country beginning next year.

The bank has decided to focus on Kariakoo area with a good number of SMEs. It also serves traders from the neighbourhood countries such as the Democratic Republic of Congo (DRC), Zambia, Zimbabwe and Malawi.

According to the bank, the loan payback period is between three and twelve months, attracting between 2.5 and 4 per cent interest rate.

The rates are much low compared to 5 and 10 per cent charged by most of the micro financing institutions. Tanzania has about 45 banks but has managed to reach slightly above 10 per cent of bankable population, while loans obtaining is not easier for start-up and SMEs ventures. -Source (http://www.dailynews.co.tz/business/?n=24241&cat=business)

Constantine MMX

October 11th, 2011, 07:27 PM

Musa Ganjab.
http://www.ganjab.com/bus/wp-content/uploads/2010/09/musa-profile.jpg
CEO - Ganjab Investment Holdings.

Ganjab Holdings is a family business with 5 active members that was formed during October 2002 in the lush climate of South Africa. Ganjab Holdings has since been very successful in its combined ventures, ranging from clothing retail & wholesale, real estate & telecommunications.

Musa Ganjab is the CEO of this venture capital driven company & prides himself on being conducting all business with transparency & structured principles. After running numerous successful business ventures, Musa Ganjab has brought his family together through this business venture, with the vision of creating a business model that works financialy as well as ethically.

Ganjab Investment Holdings has combined the efforts of their family members which has given birth to something very special. Like a well oiled machine, every member brings valueble experience & moral judgement.

The combined efforts of these members has resulted in an extreamly high success rate & an organisation that runs on optimum efficiency & effectiveness. We have chosen the South African market as our place of business due to the massive potential growth in every sector. It is a developing nation & is the financial forefront of Africa.

Over the past few years, we have established ourselves as a reputable company in this South African climate. In doing so, we have solid relationships with other business partners in the region that have proved to be indespensible.

The horizon seems bright for this young organization. Prospects in transportation, mining, imports and exports, exchange bureau & tourism are in the pipeline for the coming year. We look forward in extending our already large international community of partnerships in the months to come.

“Ganjab investment holdings is a long-term investor, forging strategic alliances on a partnership basis while continuing to add value where possible. We believe in providing a service of solutions that recognise the importance of discretion and delivering clear investment objectives. Our philosophy is to collabarate with our partners in providing high levels of transparency and information - Source (http://www.ganjab.com/bus/?page_id=2)

- See projects: Link (http://www.ganjab.com/bus/?page_id=88)

Constantine MMX

October 11th, 2011, 07:54 PM

Hassan Bashir
http://www.howwemadeitinafrica.com/wp-content/uploads/2011/02/takaful240.jpg
CEO - Takaful Insurance of Africa.

Kenya’s first Islamic insurance firm looking to overcome challenges.

Kenya’s insurance industry is crowded with more than 40 firms in operation. Ironically, due to negative perceptions, the collapse of several operators and lack of education, only 2.8% of the population is insured. A month ago, Takaful Insurance of Africa (TIA) – the first fully Shariah-compliant insurance company to be registered in Kenya – began operations riding on the fundamentals of integrity, honesty and fairness outlined in the Shariah laws. Around 10% of Kenya’s population of 40 million is Muslim and TIA is hoping to capture a sizeable portion of the market. How we made it in Africa’s Regina Ekiru spoke to TIA chief executive officer Hassan Bashir.

Tell us more about TIA?

TIA was founded in 2008 and formally licensed in January this year. Unlike conventional insurance products, under the Takaful (an Islamic insurance concept) model no interest is charged and losses and surpluses are shared between policy holders and the company. Premiums paid by clients are channeled to a risk fund managed by TIA. These funds will pay for losses suffered by the contributors to the pool. Once the risk fund surpasses a certain threshold amount, the surplus is given back to the members.

TIA will act as an agent in managing the Takaful operations on behalf of the clients, administering the participation process, managing collection of the Takaful contributions and processing the claims according to the contract agreed with the clients. In return, TIA is entitled to a fee which is deducted upfront as a percentage of the contributions paid by the participants.

We will unveil our first branch in Nairobi’s Eastleigh, an estate that has a large Muslim population. We are going to Eastleigh because it is outside the periphery of insurance at the moment. In the pipeline also are two other branches in Mombasa and Nairobi’s central business district. Our ambition is to also register subsidiaries in Tanzania and Uganda in the coming years.

Do you think there is demand for Takaful in the African market?

As an insurance practitioner, I can say there are certain elements of conventional insurance products that one cannot sell to Muslims. TIA is here to fill that gap.

Are your products available to non-Muslims?

We will be opening our doors to all Kenyans. The model is designed to serve people of all faiths and backgrounds, despite the reference to Shariah laws. We are simply providing an ethical product line. Anyone willing to be managed under the fundamentals of fairness, justice and responsibility is welcome. We believe these are the fundamentals that underline all religions.

What challenges do you foresee in the market?

The concept of Islamic finance is new in the country and regulatory measures have not been evened out to fully accommodate the Islamic finance sector. A lot has to be done in terms of regulation, considering that our model is non-interest-based operations that might present difficulties in fund placement. A significant part of insurance profits come from investments not premiums. We will have to find compliant instruments within the regulatory environment that currently exists. This will be a challenge since it automatically reduces the windows of opportunity.

How do you plan to get around these challenges?

We are looking at compliant investments like infrastructure bonds in the future. We are also engaging players in the Islamic banking sector to create investment opportunities that are Shariah complaint.

What is your financial targets for the year?

Our target is to make premium collections of Ksh.1 billion (US$12 million) in the first twelve months of operation.

Where do you want to take TIA?

I would like to spearhead TIA to the league of the top ten best-performing companies in East Africa. It seems like a tall order, but it is not. Our target is to expand the boundaries of the insurance industry and improve the penetration in the country, and this we will achieve. - Source (http://www.howwemadeitinafrica.com/kenyas-first-islamic-insurance-firm-looking-to-overcome-challenges/7989/)

zk_kz0AkHo0

Constantine MMX

December 24th, 2011, 04:39 PM

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Zambia: Oil Firm to Invest K3.5 Billion in Kasama Filling Station

22 December 2011

In an effort to expand operations in Zambia, a local firm Continental Oil Company has undertaken to invest K3.5 billion in the construction of a new filling station in Kasama to serve Northern Province.

Company representative Osman Farah said in Kitwe yesterday that, the nine- month project was expected to commence in the first week of January, 2012. Continental Oil Company is a Zambian registered company owned by a Somali with its presence in Ndola, Kapiri Mposhi and Mpika.

Mr Farah said the proposed Continental Oil Company modern filling station is located at Plot Number Six, Mbala Road in the Kasama Central Business District.

The company has fuel depots with the capacity of 2.5 million litres, while an additional 3.5 million litres would be included to expand capacity to six million litres - Source (http://allafrica.com/stories/201112231014.html)

Xusein

December 24th, 2011, 09:55 PM

The Somali entrepreneurs in East Africa never cease to amaze me.

Waranle

December 26th, 2011, 12:39 PM

Yamin Construction Company

Yamin Construction Co. Ltd (Yamco) is a Nairobi, Kenya (East Africa) based construction company established in 1998. The professionals with Yamco are committed to providing excellent quality service for detailed renovations or large scale projects.
http://www.yaminconstruction.com/images/yamin_logo.jpg

New Residential blocks located at Airport west residential area

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Ras Siyan

December 26th, 2011, 02:44 PM

^^ Beautiful neighborhood!

Xusein

December 27th, 2011, 05:32 AM

To be honest, I find those home designs to be bizarre. The colors, the materials, not a fan. :laugh: But I would loooove to see companies build these kinds of developments in Somalia in the future inshallah. The great thing about these developments is that it gives the companies experience to build on when the time of peace and prosperity finally arrives.

juzme123

January 25th, 2012, 04:21 PM

Ayaan Adam
Portfolio Manager, Private Equity & Investment Funds Department, International Finance Corporation

http://www.peimedia.com/resources/images/system/speakers/000/001/560.bmp

Ayaan Adam is currently the Head/Manager in charge of International Finance Corporation's (IFC) Private Equity and Investment Fund Portfolio. She also heads new business opportunities in infrastructure funds, distressed assets, listed funds and other single sector funds. She is responsible for US$2.5 billion portfolio involving 160 different relationships with private equity and venture capital funds invested or investing in Asia, Africa, Europe, Middle East and Latin America.

Prior to this position, Ayaan held a number of leadership positions in IFC's Global Financial Markets Department, including the position of Manager of the Global Transaction Group; and Head of New Business with responsibility for the development and the delivery of the financial sector and private equity programs in two key regions: Sub-Saharan Africa and South Asia. Prior to joining IFC in 1996, Ayaan had six years of experience in the US financial service industry, namely commercial banking, insurance, and management consulting. She holds a Master's of Science in Management from MIT's Sloan School of Management.

International Finance Corporation

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous year.

IFC has a portfolio of investments in emerging market investment funds representing a commitment of over $2.5 billion in around 160 funds. While the corporation has been investing in private equity in emerging markets since the 1990s, in 2000 it created a department to specialize in Fund investments and adopted a structured approach to investing in Funds which has produced solid results in terms of both development impact and returns. Investee companies of Funds backed since 2000 have generated job growth substantially higher than the relevant regional averages, creating over 162,000 jobs. 53% of the investee companies were SMEs at the time of investment and 78% of funds are deemed successful in achieving their development goals. Many of the funds of which IFC was an early supporter have developed into major players in their regions, such as CDH China, Baring Vostok, Advent and GP Investimentos. As funds we support become successful enough to easily attract support from commercial investors we say goodbye, and seek emerging managers who need our support. IFC has a good record in selecting first time fund managers. We have been increasing our willingness to work with first time managers and in FY08 74% of the funds we supported were first time funds.

She manages a $2.5 bllion portfolio, with investments in Africa :cheers:

Constantine MMX

January 25th, 2012, 05:08 PM

Good find bro, the sister is doing big things!

juzme123

January 25th, 2012, 06:38 PM

ZARA TOURS - Tanzania

http://www.zaratours.com/

Zainab Ansell, a Somali Tanzanian businesswoman, sheer determination to succeed made Zainab Ansell to be the woman she is today, a successful businesswoman and she has an award to prove that. Earlier this year she received an award for Business Entrepreneur of the year for running a successful tour operating company.

Today, in terms of guest numbers, ZARA tours is Tanzania's No.1 Kilimanjaro outfitter and one of Tanzania's biggest safari operators. ZARA tours has also entered the field of hospitality, we currently operate two hotels and three tented camps.

http://directory.africa-business.com/uploadedimages/1280102zara.jpg

juzme123

January 25th, 2012, 06:50 PM

Hass Petroleum -

Founded in 1997 by two brothers, the late Abdirizak Ali Hassan and Abdinasir Ali Hassan, the HASS Petroleum Group is a regional Oil Marketing Company (OMC) with significant presence in East Africa and the Great Lakes region. From its humble beginnings as a fuel re-seller, the company is now one of the most renowned oil marketers, with fully fledged operating business units in Kenya, Tanzania, Uganda, Southern Sudan, Rwanda, Burundi and the Democratic Republic of Congo (DRC).

http://wardheernews.com/Wareysiyo/HASS/Hass_Pet.jpg

With its corporate headquarters in Nairobi, Kenya, the company’s core business is the importation, distribution and marketing of petroleum products in countries where we have registered business units. The company also has invested significantly in retail outlets - petrol stations - and sizable oil storage terminals. The company's recently commissioned oil terminal in Dar es Salaam, Tanzania has an installed capacity of 34 million liters, and serves our southern corridor markets of Tanzania, and the neighboring landlocked countries of D.R.C. - Katanga Province, Rwanda, Burundi and Zambia. The northern corridor markets - Kenya, Uganda, Southern Sudan, and D.R.C. (North-East provinces) - are served by imports via Kenya's Mombasa port.

http://wardheernews.com/Wareysiyo/HASS/Pet_St_Ug.jpg

http://wardheernews.com/Wareysiyo/HASS/Hass_Depot.jpg

Hass petroleum is a large player in the energey industry of the region. Hass Petroleum being interviewed by ABNDigital:

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http://www.hasspetroleum.com/

Camellete

January 25th, 2012, 06:58 PM

^^You're too fast, I was just reading this on wardheernews

juzme123

January 25th, 2012, 07:11 PM

^ :lol:

Constantine MMX

February 5th, 2012, 08:00 PM

Somali Group new owners of one of Uganda's; Café Bravo:

Uganda: Restaurant Review - Finally Getting It Right

By Kadumukasa Kironde II, 29 January 2012

My first impression of this establishment was sometime back after the fall of Idi Amin in April 1979. Nile Grill, as it was then known, was quite possibly the most modern place of its kind at that time. For sure it was classy and enjoyed a rare al fresco setting in a prime midtown area and above all the place was purposely built as a resto with a proper kitchen and all the vestiges and appointments that form a true eating establishment.

A cousin of mine, who has since departed from this world, was given a tidy sum of US dollars to go to America and buy necessary equipment and set up the place. Uganda in those days was a country that was bereft of shopping malls and commodities of any sort were in short supply so much so, that during the Obote II regime, there was a minister of supplies by the name of Dr Apiliga. Unfortunately, owing to a series of misadventures and ill luck, Tendo's dream never came to fruition and he ended up losing the place.

Somehow, during the intervening years, Megathought a catering company run Mr Mugarurua, came to manage the place and held sway there for donkey years wherein it became more of a case of milking the fattened calf without any thought to putting anything back.

During the four decades plus that this place has been around, there have been several tenants who have tried their hand at running the place without much luck and amongst these was a group that even had a band! To put it mildly, the place had degenerated into a haven for shiftless and untold riff raff who had nothing better to do than hang around the joint all day whilst doing nothing!

Café Bravo is Kampala's latest eating establishment, and going by the look of things, the new owners (a Somali group) have given the place a complete and much needed refurbishment. They have a fairly wide menu comprising steaks, sandwiches, grilled chicken as well as a host of salads not to mention a myriad of assorted beverages with coffee included.

I particularly enjoyed the falafel which is a favourite Middle Eastern veggie treat served in pita bread with chick peas or garbanzo beans. I also recommend their grilled chicken that is juicy and tasty and very healthy by virtue of being grilled. I am told that you can insist on the skin being removed which is a big plus for those who are cholesterol minded.

The Midas touch and business acumen of the Somali community in Uganda never ceases to amuse me, and if this trend is anything to go by, Café Bravo is here to stay. To get the full drift of what I mean, one only has to look at the Mandela Group of companies; they deal in tyres, refined petroleum products, supermarkets, restaurants, confectionery etc. Amina Hersi Moghe, she is Somali Kenyan who is a big cement dealer and realtor to mention just a couple of well known Somali entrepreneurs.

Café Bravo is hospitable, neat, and trendy while the service is very much on the money. The prices are keen and reasonable for Kampala and the location is by far ideal for a café and all things being equal the place is destined to be a popular joint. - Source[/b] (][b)

juzme123

February 6th, 2012, 03:30 PM

^ Nice one ! Now I know where to go for food when I visit Uganda :lol:

mwinyi

May 19th, 2012, 02:52 AM

Bump

Constantine MMX

October 6th, 2012, 09:14 PM

Engineering design firm wants to ‘bring Dubai to Africa’

http://www.dubaiinternetmarketing.com/wp-content/uploads/2012/08/Eng.jpg
Two years ago the once booming real estate sector in Dubai was hit by the global financial crisis, which saw numerous multi-million projects shelved. However, at the time, Eng. Adnan Saffarini Office (EAS), a leading architectural and engineering design consultancy in United Arab Emirates (UAE), which has designed some of the world’s tallest buildings, set base in Africa to explore new opportunities on the continent. The firm’s regional director for Africa, Mahad Mohamud Karani, told How we made it in Africa’s Dinfin Mulupi about the firm’s mission to ‘bring Dubai to Africa’.

Tell us a bit more about EAS

Eng. Adnan Saffarini Office was founded in 1968 and has years of experience from back when Dubai was a desert to the beautiful global city and business hub that it is today. We are a one-stop shop offering a wide array of services ranging from concept design interior and landscape design, tendering, project management and supervision. We have designed numerous landmark buildings including the 414 metre high Princess Tower, which is the world’s tallest residential building located in the Marina district of Dubai.

What inspired the entry into Africa?

In the last few years we were working on a project called the Falconcity of Wonders, which would replicate the Seven Wonders of the World such as the Egyptian Pyramid, the Hanging Gardens of Babylon, the Eiffel Tower, Great Wall of China and the leaning Tower of Pisa, among others. However, after the global economic crisis in 2008 we stopped the project. Dubai is already a landmark and we thought, why not bring such a concept to Africa? We opened our offices in Kenya, which we believe is the heart of Africa. We are currently working on some projects in Rwanda, including a luxury city in Kigali. We are also designing a hotel in South Sudan. In Kenya we are working on a US$7m five-star hotel, a 62,000 m2 shopping mall which will be the region’s largest, and a $5m mosque in Nairobi. We have some work in the pipeline in Somalia as well [and are] waiting for the country’s situation to stabilise.

What do you seek to achieve in Africa?

We want to change concepts. Our goal is to bring Dubai to Africa. We want to bring Dubai malls and other landmark projects here. As the growing population and urbanisation puts pressure on land, we want to add value by designing tall buildings and skyscrapers set on very small pieces of land. For instance, the mosque we are designing in Nairobi will be built on a half an acre and host up to 5,000 worshippers and will also have other amenities like schools, shops and clinics. This creates more value for land. In Africa, we are thinking about the future. We want to design projects like Falconcity, bringing all the continent’s landmarks to one location. There is a lot of demand for housing in Africa, which creates a big opportunity for us.

Describe some of the challenges you have faced in Africa?

Our profile in designing big projects has been a disadvantage. People have the impression that we do not do small-scale projects. We have had to reassure local investors that we do small projects of very high quality and unique designs. --- Source[/b] (][b)

http://www.howwemadeitinafrica.com/wp-content/uploads/2012/09/Mahad-Mohamud-Karani-200x240.jpg
Mahad Mohamud Karani, EAS's regional director for Africa