200-125 300-115 200-105 200-310 640-911 300-075 300-320 300-360 642-998 QV_DEVELOPER_01 400-101 700-501 117-201 70-696 700-505 600-199 400-351 300-207 TE0-141 100-105 300-101 300-206 300-070 70-417 210-260 210-060 200-355 300-208 CISSP 300-135 210-065 300-209 70-243 70-480 CCA-500 2V0-621D 210-451 400-051 E05-001 1Z0-052 70-410 640-916 VMCE_V9 810-403 070-464 070-243 700-802 70-246 FCBA GPHR DEV-401 C2090-610 SY0-401 712-50 ADM-201 700-039 312-50 MA0-101 648-244 SK0-004 ASF 70-494 70-673 500-005 1Z0-060 C9560-503 640-875 N10-006 98-367 70-534 NS0-505 70-342 CHFP 070-410 640-878 1V0-603 1Z0-804 C8010-250 312-50V9 C2150-508 98-368 CLOUDF 70-411 70-461 220-901 70-488 070-341 PK0-003 E20-547 70-412 70-686 500-285 CISM 101-400 102-400 PDM_2002001060 JN0-100 642-883 CAP 070-347 The Somalia money-transfer firm that evan that British PM supports | UfeynNews.com

The Somalia money-transfer firm that evan that British PM supports

When Abdirashid Duale, the chief executive of Dahabshiil, Africa’s largest money-transfer business, visits Hargeisa, the capital of Somaliland, a breakaway province of Somalia, he cannot walk down the street easily. It is not that his security is under threat.

It is that with every step, another businessman stops to greet him. Strolling from the new offices of Dahabshiil’s bank to the headquarters of its money-transfer operation, a distance of perhaps a couple of hundred metres, takes the best part of half an hour.

On arrival, it becomes clear why. In Hargeisa, Dahabshiil, which means “gold smelter” in Somali, is the local economy’s nerve centre. In its money-transfer hub, huge amounts trade over the counter; at one point, your correspondent is handed $200,000 in cash to hold.

In its new bank, every floor is air-conditioned—this in a state where electricity is generated by diesel and costs roughly ten times what it does in the West. Every street trader proudly displays his Dahab account number—the mobile-money arm of the firm’s telecoms network. At least half of Somaliland’s annual income flows through the firm, reckons Mr Duale.

Out of this bustling business, Mr Duale’s family have built an operation that operates throughout Somalia, and well beyond. Dahabshiil’s money-transfer business now stretches across 126 countries; as well as the one in Hargeisa, the firm has offices in Dubai, Djibouti and London. It transfers money from places such as Rwanda and South Sudan.

The company can also count on the support of powerful politicians, including David Cameron, Britain’s prime minister—who spoke up for the firm when Barclays closed its bank account in 2013. Its success in moving money has helped to rebuild shattered parts of Somalia. It is now trying to become something bigger: a bank.

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