somali business challenge

[sharma-arke451]

In the world of business, Somalis are widely respected and seen as good entrepreneurs. in almost all the fields of business categories they are stakeholders. in some parts of east Africa, they are called ''business people''. for example in Nairobi, the capital city of Kenya, they run the biggest market in the region at the heart of the ''Somali estate'' Eastleigh. some describe it as '' a country within a country with its own economy".

 

Among the flourishing business Somalis pioneer is the money transfer, gold trade, transport, importing and exporting of commercial goods, food industry, and many more.

 

However, in the corporate world they lack presence. no a single Somali brand hits the global market, even though some of their services are globally available. unfortunately, most of this services are rendered to Somalis, hence ''closed global companies''.

look for example in the field of money transfer, dahabshil, qaran, tawakal, amal, kaah, iftin, and many others are widely present in many major cities, but none has a corporate brand.

 

Why can't we have corporate companies? or even corporate brands? is it because our services are primarily meant for Somalis? or because we employ only Somalis?

 

do share your thoughts

[RaMpAgE]

Because their more interested in just making a small profit rather then expanding their business to became a global brand. And now days to have global presence it must be something 'different',

[sharma-arke451]

RaMpAgE;798340 wrote:

Because their more interested in just making a small profit rather then expanding their business to became a global brand. And now days to have global presence it must be something 'different',

Different in which terms?? You mean a whole new form of business?? Do elaborate please

 

is the lack of fully functional government lagging us behind in every facet of this life??

 

fact line: any somali company has a somali manager and almost all its employees are somalis. This limits hiring on merit.

[Miskiin-Macruuf-Aqiyaar]

Ganacsigooda yar yar ayee ku iimaan qabaan. Nolol maalmeedkoodana kasoo saartaan. Corporate structure and its ever expanding, ever confusing sub-lingo average jaamac kuuma fahmi karo, umana fiicno.

 

Derivatives, third quarter, fourth quarter, shareholders, stakeholders, dividends, results-driven, equity, commodities, liquidation, capital, initial public offering, hedge funds, investment bank, revenue, net income, capital income, capital gain, capital asset, stocks... and on and on. Waxaan yaa kuu fahmaayo.

[faarah22]

well they can't be simpler than the indian folks, who start business illiterate and turn into multinationals esp in east africa. sal ma leh soomaalidu, fudayd iyo waali wax kasta daafisay.

[Carafaat]

For one to overcome those challenges we need a strong State guaranteeing the right business enviroment for one to plan and invest long term. At the moment we have an Economy without State and this has its limitations.

[sharma-arke451]

@MMA, waxaad ku koobtay faham daro, balse ''global companies'' ineey noqdaan maxa kahor taagan?

 

@faarah, is that from observation?

 

@carafaat, you have a point. only that you limited yourself to Somalia. the business environment is there and to some extent our people are economically vibrant universally, but the corporate presence is lacking.

[BOB]

All we’re doing in East Africa is run ‘small’ businesses, anybody can do it but the question you should be asking yourself is, do we have the necessary capital to turn this small business into a larger one and eventually a global brand and the simple answer is NO.

 

All the goods we sell in East Africa are imported from Asia meaning we’re ‘stakeholders’ in a global brand controlled and owned by non-somali players, the more we sell the richer they get, like MMA said it puts bread on the table for those Somali individuals and enables them to live comfortably in a fairly affordable standard but nothing more, nothing less.

 

 

For example arabs would’ne never become major players on a global scale in business without oil and maybe that’s what will happen to us as well as oil offers you not only strong capital but also an authoritarian voice that gives you the power to set rules on your own accord.

 

 

 

 

 

 

 

Peace, Love & Unity.

[Carafaat]

sharma-arke451;799066 wrote:

@carafaat, you have a point. only that you limited yourself to Somalia. the business environment is there and to some extent our people are economically vibrant universally, but the corporate presence is lacking.

Bro, I am not talking about Somalia but elsewhere. One needs a strong goverment backing. Do you think I would/could invest millions in Europe or somewhere in Africa without bilateral investment agreement between Holland and my country Somalia? or without the political backing of my country?

 

Its all about reducing uncertainty and having a goverment lowers risks and uncertainties and create a investment opportunity in the country and elsewhere(through backing/investing/guarantee, etc). How else would the Turks establish million Euro companies in Europe?

[sharma-arke451]

BOB;799085 wrote:

All we’re doing in East Africa is run ‘small’ businesses, anybody can do it but the question you should be asking yourself is, do we have the necessary capital to turn this small business into a larger one and eventually a global brand and the simple answer is NO.

 

All the goods we sell in East Africa are imported from Asia meaning we’re ‘stakeholders’ in a global brand controlled and owned by non-somali players, the more we sell the richer they get, like MMA said it puts bread on the table for those Somali individuals and enables them to live comfortably in a fairly affordable standard but nothing more, nothing less.

 

 

For example arabs would’ne never become major players on a global scale in business without oil and maybe that’s what will happen to us as well as oil offers you not only strong capital but also an authoritarian voice that gives you the power to set rules on your own accord.

 

 

 

 

 

 

 

Peace, Love & Unity.

BOB, as much as i agree with what you said, the capital is not a limiting factor. some of our businesses have the capital and the global functionality. for example the hawala's.

 

To have a global brand, commercial goods, as in East Africa, is not a necessity. think of McDonald. just a restaurant like Kilimanjaro food court(KFC) in Eastleigh, working towards expansion. this doesn't necessarily mean the original founder of KFC should own fully all other kfc's but open up franchise opportunities for other people across the globe. it is a workable idea.

 

Some of our business can really develop and turn multinational corporations only if,,,,,,,,,

 

 

p.s. canjeero Somali is called dosa in India.

[sharma-arke451]

Carafaat;799102 wrote:

Bro, I am not talking about Somalia but elsewhere. One needs a strong goverment backing. Do you think I would/could invest millions in Europe or somewhere in Africa without bilateral investment agreement between Holland and my country Somalia? or without the political backing of my country?

 

Its all about reducing uncertainty and having a goverment lowers risks and uncertainties and create a investment opportunity in the country and elsewhere(through backing/investing/guarantee, etc). How else would the Turks establish million Euro companies in Europe?

oH! got you bro. the risk factor and government backing is your case. `but look, do you mean you can't even invest under any opportunity, unless you have a strong government backing?? i think it is a relative factor.