Archive for the ‘Somalia’ category
For millions of unemployed yet tech-savvy youth across Africa, increased connectivity is bringing tremendous opportunities.
“Somalis are by nature entrepreneurial, which explains the recent increase in investment in Mogadishu and other parts of Somali territories.”
“Urban businessmen, international corporations, and rural pastoralists have all functioned in stateless Somalia, achieving standards of living for the country that are equal or superior to many other African nations.”
“It is a once in lifetime opportunity to see a country being rebuilt. We have seen it in Rwanda and Sierra Leone. Every time that happens it brings great opportunities.”
Liban Abdi Egal, chairman of First Somali Bank, answers our questions.
Years of war has taken Somalia off the map as a business destination. But with calm returning to the country, a group of investors has identified an opportunity for a bank.
Somalia, a country that has over the years mostly made headlines for violent civil unrest and piracy, is an unlikely birthplace for one of Africa’s largest money transfer companies.