1. Diaspora Investment in AgricultureIFAD Annual Meeting
Abdirashid DualeDahabshiil Group Chief Executive Officer17 November
2011
2. Dahabshiil Dahabshiil has grown into a major global business.
Global presence in 150 countries. International remittances -
person to person, business to business and international payments
for UN agencies and NGOs Foreign exchange services in all major
currencies Comprehensive AML and compliance programme 3. The role
of remittances US$1.6 billion is remitted to Somalia annually (UN
estimate) Transfer money for a wide range of purposes Daily
subsistence from the diaspora Development and humanitarian
organizations Investment in commercial projects from the diaspora
Facilitate domestic and international trade Lifeline to remote
rural areas, contributing to poverty reduction Do sophisticated
remittance systems provide a raison dtre forthe diaspora and help
preserve it as well as sustain Somalia? 4. Remittances go to...
Town dwellers Rural communities Farm workers Herders The very poor
Educators Hospitals NGOs and charities Small businesses Every type
of Somali...! 5. Innovation at Dahabshiil Continuous improvement of
access and services for customers New products & services e.g.
mobile payments, banking,ATMs, micro-finance, commercial payments,
and more Use of on-line systems for fast and efficient money
transfers: Instant global payment service Free text messaging to
customers Web-based transaction tracking facility Dahabcard the
online loyalty card E-Banking and card-based transfers, Debit card
E-Cash. 6. Future Opportunities Advancement in telecommunication is
the future! Increased mobile phone and internet usage in Somali
region Mobile banking: customers can transfer and save money
usingtheir mobile phones Potential in other areas like using mobile
phones to promoteprimary health care Contribute to economic
development; Telecom helps maintaininformal healthy economy in
Somali region after unrest Lots of opportunity for Dahabshiil...!
7. Beyond Financial Services We are a migrant-run business
Understand migrants needs We improve links between migrants here
with Africa Prompted migrants to launch own businesses and secure
theirposition overseas Take best solutions from here back home We
unify disparate groups People from different clans now have
business relationshipthrough us employees from all clans Builds
trust; reduces hostilities Private sector organisations like
Dahabshiil can: Support new and existing businesses, support
agriculture,reduce famine 8. Partnership withDahabshiil...??
Technologies that could help the farmers/ livestocktraders Training
in farming and livestock Dairy products milk, cheese, ghee, etc.
Banana, watermelon and mango Aloe - this plant could be exported
for use in beauty andhealth products in the USA and Europe
Frankincense Alternative energy Setting the international standard
for exports etc. 9. What we need to change!The British prime
minister, David Cameron, said this week thatSomalia is a failed
state that directly threatens Britains interests,while Somalis
themselves suffer famine and poverty, exacerbatedby violence. He
said there must be an international effort to standup to Somali
pirates, support countries in the region, and address the causes of
conflict and instability in Somalia. The development of
agriculture, industry and other economicactivity in the region,
funded in part by the Somali diaspora, withDahabshiils help, will
surely advance the international communitys interests as well as
those of Somalia and help put Mr Camerons mind at rest!!
