Somali Products and Services Exhibition Held in Mogadishu

[embarassing]

 

[embarassing]

 

[embarassing]

 

[embarassing]

 

[XamarWeeaboo]

Where are the IEDs or the body bags? I thought that after seeing so much chaos and destruction for the past 3 decades we would have mastered this craft?? Also, where's the "tank"- that was made by the mechanic??

/s

 

[towerheist]

Damn, greate job

Where are the IEDs or the body bags? I thought that after seeing so much chaos and destruction for the past 3 decades we would have mastered this craft?? Also, where's the "tank"- that was made by the mechanic??

/s

Waryaa you've become very negative these days.

 

[Ras]

It's a shame that the cost structures in Somalia make manufacturing a non viable industry even for a domestic market.

Just shipping it 1,000 km within the country makes it out of reach for the majority of the population.

Electricity prices are ridiculous and you can't rely on always having access to it.

Forced bribes/ protection fees and corruption makes it impossible to run a small plant.

The only solution to this is a secure industrial zone where tarrifs for imported equipment is discounted and cheap power is available.

If I build a factory on the outskirts of xamar you can be sure that the power company will try to screw me over for every cent along with local government officials.

That's before Al Shabaab pays a visit and tries to sell me their mandatory insurance policy.

Not being a downer. That's just the reality of doing business in our capital.

There are easy ways to fix it and hopefully the next government will implement them.

 

[Samaalic Era]

All of this is just PR campaign. Nothing has changed on the ground and nothing will until this govt is overthrown and we have real sincere leadership in Xamar from which in can secure the rest of Somalia

 

[Qabille]

@embarassing these "buisnesses" are barely solvent. Their operations costs entirely funded by aid money; with a sizeable portion of the "profit" used as kick-backs to the local ngo (which awarded them the grant) to release more funds from donors.

Somalia has no real economy

 

[DR OSMAN]

@embarassing these "buisnesses" are barely solvent. Their operations costs entirely funded by aid money; with a sizeable portion of the "profit" used as kick-backs to the local ngo (which awarded them the grant) to release more funds from donors.

Somalia has no real economy

Exactly your not a business if you don't have your own start-up capital and cover your own expenses, you can only be deemed an NGO if your capital and operating costs are covered thru the begging bowl. One of the things I cry out for in Puntland and Somalia is to begin 'banks' and 'lending' economy. There is capital in Somalia but the lending is either not occurring or it's insufficient. Every business starts off with a loan and pays it off over time. The west would collapse over night if the banks stop lending, their would be no businesses.

 

[DR OSMAN]

The only sort of businesses I see in Somalia is 'diaspora' run like hotels and stuff. You can't create an economy from 100,000 people in the diaspora, it's critical they access the millions of locals and make it easy for them to seek loans to begin start-ups. It's those millions of locals that can change Somalia economy, not the diaspora. Without them, you basically have no engine in your nation.

 

[DR OSMAN]

Diaspora should only focus on 'advisory' services function for Somalia economy which means providing expertise and best practises and knowledge to the locals on business investment. The diaspora shouldn't be doing the work of investing but ensuring the locals do the investing and begin start ups because it's their lives we are trying to transform here not the diaspora. That's why you see a poor underclass in Somalia, their lives haven't changed at all and nor will the overall economy.

 

[DR OSMAN]

If there is one business model I would invest in Somalia is the banking sector. Create a bank that deals with business loans to the public. I would invest in that since there is basically no competition plus I make money for doing nothing. All I would ask of my clients is they provide some hard asset as collateral for me in case they don't pay the loan off. Most Somalis can use a guarantor on family properties. That's game of business if your not willing to lose your assets for your business idea, then you never really believed in your idea to begin with.

 

[towerheist]

If the country lacks capital, then state should step in and provide this critical service. The state should work with the enterpeneurs and start bussinesses, factories and etc. When these bussinesses are stablished and they are running well, then goverment should auction these bussinesses (make it affordable to the capital lacking bussibessmen) to the locals(with conditions). The goverment will get its money back with profit overtime as these bussinesses and the employees pay taxes, hence generating income to the state coffers.

Now may arise the question why sell it to the locals, when the state can make more money by selling these small bussinesses to foreign investors. Because this would be catastrophic to the national economy in the long run, since the international investors dont care about these companies since they do not debend on them like a local bussinessman would(not the source of income that brings bread to the table). And they(foreign investors) dont have same connection to the community they serve.

This is how Japan industrialised it was the central goverment that lend money(by carefully printing more money, without causing inflation) to these local bussiness communities and when the company was operating well the goverment auctioned its shares with fraction of what it was worth to the locals. The goverment also protected these companies with high tarrifs on imported goods so these bussinesses could grow without being devoured by the products and services of highly industrialiesed countries.

 

[Ras]

Somewhat related to this thread but want to post it anyways:


One of the few videos worth your time from the world economic forum.