Premier Bank buys a majority stake in Kenyan Bank FCB.

[bidenkulaha]

Somalia lender to acquire a majority stake in First Community Bank

CAK approved a proposed acquisition of a 62.5 percent stake in First Community Bank by Somalia’s Premier Bank.

nation.africa

Premier Bank is based in Xamar and operates across Somalia, including Hargeysa, and is in partnership with MasterCard and SWIFT. Began its life in HSM’s first term and was given its license in 2015.

FCB is one of 43 licensed banks in Kenya, ranking around 17-21 in size

 

[bidenkulaha]

@Starswarz1 @MenacingGeeljire @Username @SomaliWadaniSoldier we’re going global

 

[Mr. Wabrii]

Great Bank, I remember when they opened in 15 right beside K4, first ATM first Credit cards, 8 years they have grown so much Mashallah.

 

[bidenkulaha]

Great Bank, I remember when they opened in 15 right beside K4, first ATM first Credit cards, 8 years they have grown so much Mashallah.

We have great advantages in telecom and banking. Opening up to new markets by joining the EAC and being allowed to buy foreign banks (not rejected due to ‘national security’ or protectionism) will be massive for us.

 

[Waaqmasho]

Wow, premiere bank really went global. Congratulations to reer guriceel.

 

[Somali Saayid]

Congrats, laakin the photo of the President will always be used in the wrong way lol.

 

[Waaqmasho]

Congrats, laakin the photo of the President will always be used in the wrong way lol.

It's a picture that captures when he's the happiest.

 

[DR OSMAN]

Beesha Hawiye my abtis congratulation, Anigu dad ma xasido, I wish my clan would've done this a long time ago across the continent rather then focusing on a dead industry(oil n transport) which was good for the 70s not today due to the shift to green. Hags will get a slice of every bank in africa and the 'loan process' they will 'eat' in every investment done, I might ask my abtis to throw my capital with them, business model is 'sound' and money has no qabiil.

 

[DR OSMAN]

As soon as HAG build up their banking experience, wallahi they r the next 'tycoons' who will be the wealthiest clan in Somalia. They will get a slice from 'homes, cars, business' investors who need loans while their 'asset' profile grows, it's the best model to be tycoon as ur eating a slice from any 'investment'

 

[DR OSMAN]

I urge my abtis as ur assets grow becuz u will own it untill the person re-pays it, ur capital will grow becuz it's keeping up with the market prices at all times. When they need land, equipments, properties, all these r linked to market 'rates' so when they come n see u at any time in the future your capital loans will reflect that plus ur earning a 'good fee' on top of that to keep above the market at all times. I urge u continue to expand into africa, 'wa eber' wallaahi, u will dominate it like we dominated oil/transport industry in the 60s.

One advice tho, u must 'advertise' and require africans learn, money is needed for their ideas, properties, vehicles, etc, make them learn u cant get out of poverty without someone giving u a loan to start ending the poverty process. Tell them if they have a 'job' and 'asset' even 'parents home' give them a loan to succeed while u succeed also collecting ur fees. If u do this across all the market, u will own slice of every investment, eventually you become the 'tycoons' of the market and u can begin 'acquisitions' of new companies who did the 'first 5 year risk' period and u come along and add it to your 'group portfolio'

 

[DR OSMAN]

I urge my abtiyaal to secure financial advisors who study the market for the bank and areas for the bank to 'tap into' especially 'sector' growth areas. As they grow 'expand' across the continent with lessons learned from your previous operations so u perfect the 'art' of banking.

Look at islamic/western/chinese/local loaning cultures and create a 'mix' of perfection from all the loaning cultures into 1. Get financiaal advisors from those key markets so u know the 'global standard' plus do not ignore local practises as u will need to adjust the service so they buy into it.

 

[bidenkulaha]

It’s great to see Somalis everywhere open up. Somaliland was the last market for us to crack


Here was Premier Bank opening in Jubaland a few years ago with Ministers of JL attending.


And the new offices of Premier Bank in Hargiesa. This of one of the things I’ve liked about Muuse Bihi and Madoobe, their willingness to allow our Mogadishu banks in all parts of the regions. Such a big market like Mogadishu allows us to benefit from raising capital, this can be invested across the country in areas where the market is smaller but there’s still good returns available

 

[Bowda-dheer]

First community bank was founded by the current Garissa governor Nathif jama as one of the first Islamic-somali banks in Kenya. He was a banker in Sharjah and started the bank with funding from those sheikhs and later from reer nfd.

 

[Bowda-dheer]

@Angelina another piece of advice select a career where u can work from home so u can table to them that u wud like to work from overseas(poor countries), keep ur salary high while your expenses low and follow that investment strategy I told u(long, short term), u will be a multi millionaire in very quick time. The quicker u get rich is the key to beat inflation/expenses/etc

What’s your long and short term investment strategy ?

@bidenkulaha is this bank ceyr owned or duduble?

 

[Sheikh Kulkuli]

What’s your long and short term investment strategy ?

@bidenkulaha is this bank ceyr owned or duduble?

Abgaal.

Tolka are idiots for selling this bank.

 

[DR OSMAN]

@bidenkulaha is this bank ceyr owned or duduble?

Wrong thread

 

[Bowda-dheer]

Abgaal.

Tolka are idiots for selling this bank.

Tolka is idiots when it comes to business almost lost money in Kaah when it shut down out of no where.

 

[bidenkulaha]

What’s your long and short term investment strategy ?

@bidenkulaha is this bank ceyr owned or duduble?

Premier? It’s Cayr. Salaam is the duduble one. And IBS Sacad

 

[bidenkulaha]

Tolka are idiots for selling this bank.

It was heavily indebted to Premier Bank and was struggling financially. I bet it didn’t cost much. They must’ve swapped liabilities for equity

 

[DR OSMAN]

What’s your long and short term investment strategy ?

@bidenkulaha is this bank ceyr owned or duduble?

Long-Term is 'safe stocks' but 'big capital lay down' so the returns r not 'pennies' due to the large amount of 'ppl involved' n infrastructure 'shares' will be key one. Land(especially around central markets, govt facilities) across the african continent as long that 'country is growing' fast.

Antique collection from civil war countries with rich history(syria, iraq) will do wat the whites did to ancient egypt untill egyptians started to 'protect' it.

Jewellery purchases from india, (gold, diamonds, etc), not interested in the 'digging process' but the final product, will pursue a influential politician who hates 'india' from china or elsewhere(key trade partner) to 'destabilize' that country so the ppl sell their large stockpile of gold at homes for pennies.

Currency purchases like russian rubel, its so low now but its a superpower, the sanctions will lift eventually and the rubel will grow is my strategy.

That's long-term tho.

Short-term investment model is thru silent investor model into small businesses while I work from non-western country to keep expenses low and my salary high. All short term funds will be put into 10% interest accounts so it grows quicker until ive accumulated enough for the long term strategical investments.

Then it's about 'generational' wealth strategy as I teach my kids my strategy that I know works and will encourage they do the same or advance it. In my will I will detail where my 'antiques, jewellery' is stored, land portfolio, plus stock portfolio.

I will have 'good financial' manager by then, that will be another 'scouting' process to ensure their 'different' to the 'text book' followers, i want someone sound in the knowledge but also knows how to 'tweak' or spot 'opportunities' before others thru 'established patterns'