Let's talk about Hormuud Inc. (Ltd)

[Dhagaxtuur]

This is a somali affairs discussion forum and it's right in my opinion to bring private companies when their business behaviour is predatory and monopolising businesses.  Nor to mention the fact they're literally central bank of South Central Somalia.  

The scary thing is,  not only are they bankrupting any flourishing business entity but they are deciding on telecoms and monetary policy through financial brute.

 

So, let's talk about this mammoth of a company in Somalia.  

 

P.s. we probably all heard, but some of  the mafia style dealings are on El Chapo level stuff.  

[Khadafi]

The man behind the company  Axmed Nuur jimcaale was a integral part of the first wave of  saudi financed preacher and entered the venture of "xawaalad".  The city in Scandinavia  I lived in was during the 90-ties the town where all of these "wahabist" clique would meet and make an annual  event called "mutamarka islaamiga". When civil war was raging and blood was being spilled in Somalia I remember those annual meetings were the place to be. It was the only common place that somalis of 4.5 could come actually chat with each other with compassion and no clan grudges.

Everyone remembers the defunct Al-barakaat. Thousands of Somalis lost their money but they were given the sham promise that they would regain the money they had in the bank once the sanctions were lifted. Once the sanctions were lifted the man behind the Hormuud, a man who liked to potray himself as a dedicated salafist preacher took  the money. A relative of mine had 15 k dollars and after sham messages of various somali tv channels that they could collect the money that was frozen by the US. He did so and contacted the local man . The man said that the US had taken "intrest" in holding the money" during the days of the sanctions. My relative answered banks usally give intrest to those who actually owns the monet and vica verse. He went away. He did not receive his lost money. The messages on Universal tv was sham to protect the wahabist salafist religious face. Had he not sent those messages we Somalis would openely have called him "tuuga".

 

Anyways during the chaos of the 90-ties and early 2000 he was shrewd and  foresaw that Somalis  with a huge  diaspora needed telecommunications.  He collected the former state employeers of pre 1991 and installed technocrats from various clans.  The good thing about him he did not sorround himself with geel-jire cousins who could not read as some other Somalis usally make when they  venture into buisness. Axmed nuur  was instead  pragmatic and if you had the degree and the know how, or the contacts he would hire you.  He installed

modern mobil phone antennas.  This is just the beginning. With no central bank, and everyone being being able produce somali shilling, the economy was tied to the dollar and. He also  found inspiration from Kenya where impeeza  was implemented, mainly digitalized payments of kenyan shillings, He had a problem though, with millions of dollars in cash he needed a bank, a recognised bank by the IMF and all states in order to do the same in Somalia.  He established ties with recognised banks of Djibouti and  made salaama bank  of shoot of djaboutis state bank.  The "Salaama" bank that we see today is an offshoot from djibouti.  I am not a communist, neither do I have a Marxist tendencies. I utterly  reject the notion of communism, Marxism or communism has no objective moralism and is today preaching and promoting the morals of the left hand path (lgbtq etc etc). For those who are willing to see and dig a  and reflect bit beyond the what we see and hear we as muslims understand that we are  are upon the right hand path, asxaabul yamin. Thanks god communism is dead, it was rotten at the beginning when the racist Marx had his isnad and abtirsi to Iblis and now all of those who promoted it are dead. 

As muslims we also reject the american form of capitalism of exploitation.  We consider them to be  mofsadeena fil ard according to islamic thinkers as the sufi Shaykh Xassan Banna and Sayid Motaherri. Indeed the beloved ones to the prophet and those whom the eternal words of god speaks about are the muhajirin, the poor, the weak who took upon the faith despite facing grave dangers. We see today white european nations using capitalism in order to literally starve people to death with no moral objectivism.

They lie, they say we believe in free trade and peace yet when the African man wants his fruits to be sold grapes fruits they impose tariffs in order protect their own "european tariffs".    We strayed of the topic. But Axmed nur Jimcaale is a smart man, he does  not speak on somali politics. He keeps his political views to his own. But the facts on the ground is that Axmed Nuurs budget is much larger then the FGS budget.

He does not need to go to politicians, they come for him.   What is going in Somalia is a evil form of capitalism, a much more corrupted devilish form then Americas. The traders do not pay taxes, Axmed nuur Jimcaale rose from the ashes from the money he got from Al-barakaat, is he willing to pay taxes? Does it lie in his interest to see a strong federal government that takes 10% income on every digital transfer of money that occurs in Somalia? I do not think so.   

For those who do not believe in him regarding his salafist preaching during 97 see below.  Many years has gone. Notice that he does not in anyway talk about taxes during his preaching on "islamic economy".

 

[Miskiin-Macruuf-Aqiyaar]

I think they also hold majority of shares of Banaadir Electric Company, (BECO) the de facto only shirkad that provides energy needs in the Koonfurta. They have a stranglehold of this market as the telecommunication market as well as financial, e-transfer market. They also hold a lot of erstwhile public lands in Banaadir area after cheaply acquiring in corrupt practices and resell it to the public for a great profit.

I have nothing against BECO since it has invested a lot after their incorporation of several entities in mid 2010s. However, monopoly is a monopoly.

[Dhagaxtuur]

9 hours ago, Khadafi said:

He does not need to go to politicians, they come for him.   What is going in Somalia is a evil form of capitalism, a much more corrupted devilish form then Americas. The traders do not pay taxes, Axmed nuur Jimcaale rose from the ashes from the money he got from Al-barakaat, is he willing to pay taxes? Does it lie in his interest to see a strong federal government that takes 10% income on every digital transfer of money that occurs in Somalia? I do not think so.   

Indeed, from top to bottom.  Hence why all the drama. 

 

[Khadafi]

10 hours ago, Miskiin-Macruuf-Aqiyaar said:

I think they also hold majority of shares of Banaadir Electric Company, (BECO) the de facto only shirkad that provides energy needs in the Koonfurta. They have a stranglehold of this market as the telecommunication market as well as financial, e-transfer market. They also hold a lot of erstwhile public lands in Banaadir area after cheaply acquiring in corrupt practices and resell it to the public for a great profit.

I have nothing against BECO since it has invested a lot after their incorporation of several entities in mid 2010s. However, monopoly is a monopoly.

A  Senior official within the somali government that sometimes talks to me  told me that the a joint agreement signed by Somalia and Turkey was that Turkey would help state the with mass-produced solar cells in a great magnitude. Somalia would own 51% while the Turks 49 %. This agreement was signed 2 year ago, As soon as the pen was written, the monopoly tried in various ways to stop the deal but failed just as Jubba airways failed. The pressure to delay the agreement  was so high it reached the prime ministers desk.  Amaan ama Hamaanin, he took  somali stand and dismissed them.

Turkish geophysicists and actuall solar cell company kalyon wanted to with this project to outdo the germean solarcells that Morocco bought and show the world that its solarcells are much better. The best way to launch your product and the whole green energy politics is showing how a poor country as Somalia can find its needs in solarcells and windfarmcells. 

I will not disclose the chosen the place for the security of those somalis and turks involved but think about it, while the wahaabi was using fancy arab words written by saudi shaykh who wanted to explain basic economy in the frame work of the islamic jurisprudence, he made no mention of monopoly.  Do you guys remember the fanaan Cabdalla Cabdalla, the arab, the artist after getting tatxiil from the sacuudiga went back to his family joob. Making sambuus and a nice restaurant. The restaurang became a hit, the crowd went with Cabdallah, he was a living entertainment. The opposite restaurant owner got jelous and cabdalla was spayed with 9 bullets.  Folks that is how the bizarre capitalism  with monopoly works.

A funny side not, You always want your mother inlaw content with you. Everyyear when some in the family would head of to mogadishu, she asked for a MIXER. 

After sending her 5 mixers I asked her a bit comical why do your mixers always get damaged. I have had mine for 5 years and yours  dies after 3 months. We laughed.  2 months lather, one night it struck me, the Watt system in Somalia is not harmonised.  The Voltage in Europe is 10 ampere or 230 volt. For those buying fancy kitchens machines watch out and buy a equalizer before you the somali ampere that nobody knows.