This is what happens when you lack banking institution, this poor guy has an idea and he cannot execute it becuz there is no banks to borrow loans from. In my opinion development is impossible without banking institutions storing and loaning capital to create up-start culture. Bosaso being PL business capital, it should be the banking capital of Puntland.
I would donate also, it's better then charity or remittance like what Somalis do for their relatives from overseas, u just make them dependent for life. I know we force our family in garowe to provide business opportuities so we can invest for them and then they become self sustainable on their own after a period of time.
Now we only provide remittance only if something has gone wrong with the business like some equipment broke, wallahi my family feel a-lot better then the old days when they just kept sending 200 a month, now it's more like once or twice a year they get remittance from us which is usually for medical reasons only, not basic food an rent, iyaga iska bixiyo because we made them self sustain themselves on their own income.
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.