SOURCE: African Business Review

African Business Review

April 20, 2012 14:21 ET

Dahabshiil Rises From the Ashes of Civil War to Provide Vital Service for the African Community, in African Business Review

CEO of Money Transfer Service Speak Exclusively to African Business Review on Why His Company Means More to Him Than Just Making Money

NORWICH, UNITED KINGDOM--(Marketwire - Apr 20, 2012) - The story behind international money transfer Dahabshiil truly is one of rags to riches.

The company, now one of the largest money transfer businesses in the Horn of Africa, was started by African entrepreneur Mohamed Duale. In the 1970s, he fled Somalia with his family when civil war broke out in 1988 to England. With very limited resources, Duale set about rebuilding his business in his mission to serve African communities.

With an ever-increasing Somali population, Dahabshiil flourished in London and has gone from strength to strength. In 2009, Dahabshiil made banking history and launched the first ever debit card in Somaliland and the following year opened an Islamic bank in Djibouti. Then in 2010, a telecommunications provider, Sometel, was launched. The organisation is largely owned by Dahabshiil, and provides telecommunications services in the Somaliland region.

CEO Abdirashid Duale spoke to African Business Review exclusively to discuss how the company means much more to him than just making profit, demonstrated by its recent $100,000 investment in helping the Somalian health and education service in the wake of the devastating drought, working with many NGOs.

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