The 10,000 Somalis Rule.

[YoungFarah]

To even get something as monumental as this requires at least $10million on marketing costs. Going from Diaspora city to city and build awareness around it.

To answer your questions:

A) Marketing
B) Hire based on merit. Even if they aren't Wall Street trained; a fund like this would give them incredible exposure they wouldn't get anywhere else.
C)Leave the courts out of it by intervening and consolidating everything internally with in the company. The company cannot wait for institutions to be build and efficient. The companies departments can implement policy the government has to uphold.

This is why the government is having a hard time collecting taxes from the private sector. The people don't trust the institutions because they are weak. A strong fund would be its own institution.

Can't a well renowned enterprise such as Dahabshiil spearhead such a project?

 

[Deactivated]

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Imagine if I raise 10k from 1k members of my sub clans

That's a goddam one million. We could build a town.

We Somalis are stuck in the fascination of "Millions".

The country is worth a dozen trillion dollars and we are still boasting about a $200million budget that is the capital expenditure on salaries of midcap companies on the Nasdaq.

 

[Striker]

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Imagine if I raise 10k from 1k members of my sub clans

That's a goddam one million. We could build a town.

@Duke of Bohol what do you think of this idea. Its more realistic and it can be easily achieved.

Raise money from diaspora and your town will boom.

I am proud of this idea.

 

[Abdalla]

You're out of touch with reality. Somalia, a nation of at least 10 million, has a GDP of around 5 billion. 10 million couldn't produce more than 5 billion and you want a mere 10k people to double our GDP?

 

[Striker]

@LarryThePuntite

I think its best if we start drug cartel in south america.

That way we can become filthy rich.

 

[Deactivated]

Can't a well renowned enterprise such as Dahabshiil spearhead such a project?

Dahabshiil is a prime example of why Somaliland should remain with Somalia. The company wants to tap into Somalias rich infancy sectors but is being held back because of secessionism. This proves that the market has spoken and favours companies that are nationalist.

 

[Striker]

Holy crap.

https://en.m.wikipedia.org/wiki/Drug_cartel



Why aren't Somali starting drug cartel organization.

Even the chinks are doing it

 

[Deactivated]

You're out of touch with reality. Somalia, a nation of at least 10 million, has a GDP of around 5 billion. 10 million couldn't produce more than 5 billion and you want a mere 10k people to double our GDP?

These are 10,000 investors from around the world that are somali. When Korea launched thier economy in the 60s they had Hoyos selling thier jewelry and sending every dollar to an economic fund.

Also, do you think that there are no Somalis in Somalia making 6 figures without being corrupt? There's plenty of wonderful people who fit this profile in Somalia who can raise 100k. You only need 2,000 in Somalia and 8,000 in the diaspora.

 

[El padrone]

Its feasible really. kenyas doing it right now with their mobile bonds.

unfortunately somalis will not trust anyone with money unless its tolka.

what we need is strong institutions that can fast track such ambitious plans.

10k somalis with 100k can be found in one country alone in the west, those with good credit score can borrow thst money from their capitalistic banks. the advantage of making this plan qurbajoog exclusive is; they will trust you with their money for such ambitious plans, second they have the resources and also easier to track down their investment and accountability!

If only we could be more patriotic and look beyond the qabiil horizon

 

[Bohol]

@Duke of Bohol what do you think of this idea. Its more realistic and it can be easily achieved.

Raise money from diaspora and your town will boom.

I am proud of this idea.

Good idea. I had that idea originally, each house costing 10k. So 100 houses will cost $1 million.

 

[SuldaanGuled]

A Somali fund that is independant of the government--Cannot and must not wait for red tape.

These 10,000 investors regardless of Qabil are the owners of Somalia at this point. If you have 20 competant Somali executives walking into Xamaar with $10billion of Somali funded wealth; it's lights out on Xoolonimo.

How are you going to carry out it's interests in the country without government support ? what about the sentences if some turn out to be corrupt ? what can kind of power will the fund have ?

$10billion will only lead to max Xoolonimo sxb, if they're stealing the money even though it's being provided by the west why do assume it will turn out differently when the investors are somali ?

 

[Deactivated]

How are you going to carry out it's interests in the country without government support ? what about the sentences if some turn out to be corrupt ? what can kind of power will the fund have ?

$10billion will only lead to max Xoolonimo sxb, if they're stealing the money even though it's being provided by the west why do assume it will turn out differently when the investors are somali ?

It's only different because of reporting and accountability. Somalia needs 100,000 Somali auditors to help put controls in the place on every facet of our institutions.

The only reason I see this as being interesting is the face that it would create thousands of jobs, receive a tax exemption for 10 years and give way to talented Somalis who are given the resources to prove thier potential.

Somalias biggest resource is its people--as cliche as it sounds.

 

[maestro]

Good doable plan. $10b is enough to massively boost infrastructure and there are way more than 10,000 rich Somalis who have $100K laying around

Hell, I know at least 6 people who have $100K as disposable income. The problem is no one will trust this plan unless there is some kind of guarantee.

We need a strong and trustworthy government to control this big money but Where are we gonna find that in the worlds most corrupt country?

Build legit government institutions first!!! That's literally why we were a failed state for so long.

 

[Xooshdheere]

Khaat is owa fucha muh boi

yes f*ck development, invest in and only in khaat!

 

[SuldaanGuled]

It's only different because of reporting and accountability. Somalia needs 100,000 Somali auditors to help put controls in the place on every facet of our institutions.

The only reason I see this as being interesting is the face that it would create thousands of jobs, receive a tax exemption for 10 years and give way to talented Somalis who are given the resources to prove thier potential.

Somalias biggest resource is its people--as cliche as it sounds.

Isn't that supposed to be the first thing to rectify? not having the proper tools to ensure that the funds are being used for it's intended purpose will only lead to failure. I agree it's interesting question is how practical is it given the reality on the ground ?

What are your plans how to solve this issue that without a doubt will hinder the proper utilization of the funds ? we need practical plans

 

[Deactivated]

Isn't that supposed to be the first thing to rectify? not having the proper tools to ensure that the funds are being used for it's intended purpose will only lead to failure. I agree it's interesting question is how practical is it given the reality on the ground ?

What are your plans how to solve this issue that without a doubt will hinder the proper utilization of the funds ? we need practical plans

Somalia has enormous challenges.

Just wanted to bring up the idea of a "fund". The mechanics of the fund and the challenges in the market place are to be faced by the employees with the blessing of the investors.

The money is out there and it's only way to use the most precious resource in Somalia which is "Somalis".

 

[gurey]

In the last 5 years Somalis Hoyos have spent 50-100k in buying a home in Somalia.

Imagine to hold people to stop buying a house and invest in these equity funds that are RIBA free.

In laymen terms can you explain how its riba free?

 

[ExcessFame]

If the Western-educated kids came back, now as adults, and made some ventures, something good could arise from that.

 

[SuldaanGuled]

Somalia has enormous challenges.

Just wanted to bring up the idea of a "fund". The mechanics of the fund and the challenges in the market place are to be faced by the employees with the blessing of the investors.

The money is out there and it's only way to use the most precious resource in Somalia which is "Somalis".

Mashallah i know walaal the thing is that i asked similar questions to some representatives of the fursad fund just to get the gist of their future plans and solutions to the issues i mentioned above. To get more investors you need to reassure them and convince them that the pros outweigh the cons. They've a huge challenge facing them tbh and despite this they do manage to carry out some needed work Ilaahay ha uu sahlo ameen

I ask questions as a reminder for myself first that change isn't easy and that we need to be realistic about our approaches

 

[ExcessFame]

I ask questions as a reminder for myself first that change isn't easy and that we need to be realistic about our approaches

We need to rely on ourselves rather than constant foreign aid that creates slothfulness.