Somali Companies & entrepreneurs active in Africa

[Constantine MMX]

Tansoma Hotel - Dar es Salaam, Tanzania.




Oceanic Bay Hotel - Bagamoyo, Tanzania


Paradise Holiday Resort - Bagamoyo, Tanzania

[Constantine MMX]

Amal Plaza - Eastleigh, Kenya

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

[Constantine MMX]

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

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

[Constantine MMX]

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

[Constantine MMX]

Quadron Investment Co. Ltd

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

[Janub]

Originally Posted by popa1980

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]

Originally Posted by Janub

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]

Constantine MMX

Thanks for all the updates, keep them up!

[desert burner]

Originally Posted by Constantine MMX

African Express Airways - Kenya

[IMG]http://oi54.************/qya4o3.jpg[/IMG]

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.

[desert burner]

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

[popa1980]

Originally Posted by Janub

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

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]

Originally Posted by popa1980

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]

Dr Ismail Ahmed - CEO And Founder of WorldRemit Money Transfer

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]

Originally Posted by popa1980

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]

Bluebird Aviation - Kenya

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

[Constantine MMX]

Citibank Tanzania Limited Appoints Jamal Ali Hussein as Chief Executive Officer

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

[Xusein]

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]

[Constantine MMX]

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

[Xusein]

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