Forbes List - 5 Millionaires from Somalia You Should Know


Puntland Youth Organiser
FDK Visionary
Somalia, a failed state in East Africa, has an extremely hostile political and business environment. But its people, the Somalis, are some of the most entrepreneurial people in Africa. Meet five low-key, ultra-wealthy Somali entrepreneurs who founded, own and run businesses with proven annual revenues of eight figures or more. Their names don’t ring with the African public, and you’ve probably never heard about them before, but you should probably know them.

1. Abdirashid Duale

Source: Money transfer services, Telecoms

Abdirashid Duale is the CEO of Dahabshiil, an international funds transfer company headquartered in Dubai. His father founded the business in the early 70s as a commodities trading business but extended into providing money transfer services to Somali diaspora who were looking to send money home. Duale, 40, now calls the shots and has control of the company. Dahabshiil now operates from more than 24,000 outlets across 126 countries and employs more than 2,000 people. The company had 2016 revenues of more than $1 billion. The Dahabshiil Group also operates a leading commercial bank in Somalia, and owns 95% of mobile telecoms firm Somtel. Duale owns property in London, Dubai and Hargeisa.

President of Somalia, Mohamed Abdullahi Mohamed attends the London Somalia Conference at Lancaster House in London on May 11, 2017.International leaders are gathering in London on Thursday to thrash out agreements with Somalia aimed at stabilising the country under its new political leadership. The one-day conference is looking to strike a new compact that will accelerate progress on security, development and the troubled east African country's economy by 2020. JACK HILL/AFP/Getty Images

2. Abdirizak Ido

Source: Telecoms

Telecommunications tycoon Abdirizak Ido is the founder and controlling shareholder of Nationlink Telecom, one of the largest telecommunications companies in Somalia. Ido, who is primarily based in Dubai, founded Nationlink in 1997. The company provides Mobile, Fixed Lines, Internet and Satellite Mobile services and has more than 700,000 subscribers in the country.

3. Mohamed Abshir Abdi

Source: Seafood, Real Estate

Mohamed Abshir Abdi made his fortune trading seafood. His Hafun Fishing Company, which he founded in 1992 in modern day Puntland, is involved in the importation, distribution and sale of seafood products- everything from lobsters and frozen fish to dried shark meat. The company has annual revenues of more than $10 million.

4. Ismail Ahmed

Ismail Ahmed is the founder of WorldRemit, a London-based online money transfer service that lets people send money to friends and family in other countries. In 2015 the company raised $100m in a Series B funding round led by Technology Crossover Ventures (TCV) and Accel Partners. Ahmed is CEO of the company.

5. Amina Moghe Hersi

Source: Diversified

Amina Hersi Moghe’s parents were nomads who migrated from Somalia and settled in Bungoma, Western Kenya, where she was born. Growing up as a child, she worked with her mother in setting up a hardware store before settling down in Uganda to trade soft commodities and cement. She built a fortune from there and delved into real estate. Hersi, 64, now owns some of the choicest pieces of real estate in Uganda, including the landmark Oasis Shopping mall in Kampala, and hotel Laburnam Courts. Her sugar manufacturing company, Atiak Sugar Factory, is also developing a $120 million sugar factory in Uganda’s northern region.

The Hormuud guy (Axmed Nuur Jimcaale) was just removed from the USA terror list few months ago Lol.
So I doubt he cares about Forbes.



Scuba diving in the mud
My guess is we may have more than 1000 millionaires. But they are staying private for now.
There are at least a somali guy with serious cash in every hood where you can find somalis. It's hard to tell them apart.
The unknown millionaires are smart. They understood that looking rich will get them broke. I see no reason why man should stunt and look like food to gaajo niggas.
Wow, a woman in the top five. How inspiring. Insha-Allah I'll be up there. Does Telesom span the whole of Somalia or do they only operate in Somaliland?

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