HEADLINES:

Somali remittance company near collapse by family feud

0
Sunday August 14, 2016 - 13:48:26 in Articles by Super Admin
  • Visits: 7413
  • (Rating 5.0/5 Stars) Total Votes: 1
  • 2 3
  • Share via Social Media

    Somali remittance company near collapse by family feud

    The giant remittance company Dahabshiil is facing serous family crises and customers are worried. "After its founder is ill and lost vital memories of his life and other job related issues," family friends and customers told WAAGACUSUB.

    Share on Twitter Share on facebook Share on Digg Share on Stumbleupon Share on Delicious Share on Google Plus

The giant remittance company Dahabshiil is facing serous family crises and customers are worried. "After its founder is ill and lost vital memories of his life and other job related issues," family friends and customers told WAAGACUSUB.

Respected businessman Mohamed Said founded Dahabshiil from small shop to flourishing business empire but the company is  almost loosing credibility after the whole commercial transactions were solely run by

his flamboyant son without consultation of company executives with immense  financial  managerial knowledge, according to Mohamed Diheye in Djibouti.

He further added that it is unfortunate that old man, Mr Said,  "lost most vital memory to oversee  the business".

"He can't  precisely remember days, numbers, places and individuals," he said.

Said was very lively and run the company in a credible manner before his son, Abdirashid Mohamed Said, who is the current CEO created confusion and hostilities with competitors a well as major customers.

"The former boss is unaware if he saw you today or last month, let alone to remember the deals and pledges he made with customers," a Dahabshiil customer in Hargeisa said.

The deteriorating health situation led to the withdrawal of huge deposits by business men that were dealing with the company more than 30 years. 

"We trusted the old man but not his terrible boy that undermined the image of the company since he became CEO," accused Mursal Abdi in Gedo region.

The negative health condition of Said was not only affecting business people but created tension among family members on how to inherit dahabshiil assets

"They might take all the money we have in accounts assuming that everything belonged to their ailing father," a businessman in Mogadishu Mohamud Ibrahim said.

"That is why we took precaution measures and withdrew huge cash from the confused institution," he said.

"Abdirashid believed to have  diverted company money to private accounts in Bahamas and his brothers are extremely furious but he enjoyed the support of his mother who wanted him to take everything," a family member who declined to be named said

As the unfortunate issue is very important to Somali business community we shall continue to follow the rise and demise of Dahabshiil.

Many Somali remittance company collapsed in last several years and money was lost by the shadowy deals of merciless managers.

Financial analysts predict Dahabshiil may join the losing club if the issue is not resolved amicably.

Share on Social Media

Villa Somalia and Jubaland now teeter on the edge of full-blown war

Somalia's President Hassan Sheikh Mohamud and Jubaland leader Ahmed Madobe, previously allies in the nation's political landscape, now find themselves on the brink of war after a divisive National Consultative Council meeting revealed profound rifts, prompting both sides to mobilize for a possible showdown. Full Article

 

The killer,the kidnapper of Somalia, entered in the US as a migrant

In July 2009, Mahad Ibrahim Hamarow kidnapped French officers Denis Allex and another officer who escaped from the Sahafi Hotel in Mogadishu and then joined Al Shabaab. In the same year, he fled to Kenya, this was confirmed by Hizbul Islam Spokesman Mr Aydarus. - In 2010, Mahad Hamarow went to South Africa for migration, that's how we found out in the investigation, we were also told by Mohamed Isse and his brother Somaney who lives in Johannesburg South Africa. Full Article

 

Somalia's leader mourns death of Namibia president

Waagacusub.net - Somalia's President Hassan Sheikh Mohamud on Sunday mourned the death of Namibia President Hage G. Geingob and sent condolences to the government of the African country. Full Article

 

Somalia's ex-president warns of risk of 'political crisis' over plans to overhaul constitution

Waagacusub.net - Somalia's former President Mohamed Abdullahi Farmajo on Monday warned of the risk of political crisis over plans by the incumbent President Hassan Sheikh Mohamud to overhaul the constitution. Full Article

 

Egyptian President says will protect Somalia against anz threat

Waagacusub.net - Egyptian President Abdel Fattah el-Sissi said his country will protect Somalia against any threat in what can be described as an indirect response to recent Ethiopia's move to access the seaport of Somaliland. Full Article

 

Egypt Condemns Suicide Bomber Attack in Somalia

Egypt on Tuesday condemned a suicide bomber attack in Somalia that killed at least 20 soldiers. The attack took place at a training camp in the Somali capital, Mogadishu, on Monday. The al-Shabab terrorist group claimed responsibility. Full Article

 

Somalia:War to Defeat Al Shabab Militarily

President HSM's Proclamation to Defeat Al-Shabab by Force in Somalia To overcome the complex problems of civil war, state fragility, and underdevelopment, the Somali people supported risky political changes for a government that promotes freedom, justice, peace, and prosperity in Somalia. For example, the Islamic movements enjoyed popular support to end the brutal reigns of warlords and the military occupation of Ethiopia and establish new government. Full Article

 

It secretly and unlawfully recruited about 7,500 young Somalis sent to Eritrea

Western Intelligence Agencies Oppose the Democratization of Somalia Intelligence Services (NISA) History documents the strong character of the Somali people associated with messy democratic rule that cherishes individual liberty, freedom of expression and opinion, Justice, and private entrepreneurship rather than with autocratic rule. British explorer, Sir Richard Burton wrote in 1856, "the Somalis are fierce race of republicans, constantly changing political loyalties – the Somalis lived in what amounted to a state of chronic, political schizophrenia, verging on of anarchy. Every freeborn man holds equal to his ruler and allows no loyalties or prerogatives to abridge his birthright of liberty." However, Somalis are docile to discipline and obedience if social mediation applied fairly. The appropriate model of government for Somalia is the democratic rule. Full Article

 

Somalia:$17 million external support has not been channeled through the country's single treasury account

Waagacusub.net -Auditor General Mohamed Ali alias Afgoi has exposed missing millions of dollars from key departments within the Federal Government of Somalia [FGS], in what could raise questions about government expenditures. In his report, Afgoi said 25 entities and three embassies have been audited. Unsupported expenditure amounts to $9M; contracts worth $31M not registered with auditor general's office, the existence of unauthorized bank accounts outside the Treasury Single Account. Full Article

 

Al-qaida Share ,IBS bank Somalia launches Visa Card Payment

Waagacusub.net - IBS Bank Somalia, which is believed to have the largest amount of money, Al-Qaeda Finance Secretary Fazul Abdallah from Comoros has started issuing Visa Card Payments for the first time. Al-Shabaab's finance secretary confirmed that Mohamed Ali Warsame had $ 157 million in cash, according to Khalif Ereg, who was later bribed with $ 2 million. Full Article

 


Leave a comment

  Tip

  Tip

  Tip

  Tip

  Tip


Villa Somalia and Jubaland now teeter on the edge of full-blown war

Somalia's President Hassan Sheikh Mohamud and Jubaland leader Ahmed Madobe, previously allies in the nation's political landscape, now find themselves on the brink of war after a divisive National Consultative Council meeting revealed profound rifts, prompting both sides to mobilize for a possible showdown.

The killer,the kidnapper of Somalia, entered in the US as a migrant

In July 2009, Mahad Ibrahim Hamarow kidnapped French officers Denis Allex and another officer who escaped from the Sahafi Hotel in Mogadishu and then joined Al Shabaab. In the same year, he fled to Kenya, this was confirmed by Hizbul Islam Spokesman Mr Aydarus. - In 2010, Mahad Hamarow went to South Africa for migration, that's how we found out in the investigation, we were also told by Mohamed Isse and his brother Somaney who lives in Johannesburg South Africa.

Somalia:War to Defeat Al Shabab Militarily

President HSM's Proclamation to Defeat Al-Shabab by Force in Somalia To overcome the complex problems of civil war, state fragility, and underdevelopment, the Somali people supported risky political changes for a government that promotes freedom, justice, peace, and prosperity in Somalia. For example, the Islamic movements enjoyed popular support to end the brutal reigns of warlords and the military occupation of Ethiopia and establish new government.

Somalia:$17 million external support has not been channeled through the country's single treasury account

Waagacusub.net -Auditor General Mohamed Ali alias Afgoi has exposed missing millions of dollars from key departments within the Federal Government of Somalia [FGS], in what could raise questions about government expenditures. In his report, Afgoi said 25 entities and three embassies have been audited. Unsupported expenditure amounts to $9M; contracts worth $31M not registered with auditor general's office, the existence of unauthorized bank accounts outside the Treasury Single Account.

Al-qaida Share ,IBS bank Somalia launches Visa Card Payment

Waagacusub.net - IBS Bank Somalia, which is believed to have the largest amount of money, Al-Qaeda Finance Secretary Fazul Abdallah from Comoros has started issuing Visa Card Payments for the first time. Al-Shabaab's finance secretary confirmed that Mohamed Ali Warsame had $ 157 million in cash, according to Khalif Ereg, who was later bribed with $ 2 million.

Villa Somalia and Jubaland now teeter on the edge of full-blown war

Somalia's President Hassan Sheikh Mohamud and Jubaland leader Ahmed Madobe, previously allies in the nation's political landscape, now find themselves on the brink of war after a divisive National Consultative Council meeting revealed profound rifts, prompting both sides to mobilize for a possible showdown. Full Article

 

The killer,the kidnapper of Somalia, entered in the US as a migrant

In July 2009, Mahad Ibrahim Hamarow kidnapped French officers Denis Allex and another officer who escaped from the Sahafi Hotel in Mogadishu and then joined Al Shabaab. In the same year, he fled to Kenya, this was confirmed by Hizbul Islam Spokesman Mr Aydarus. - In 2010, Mahad Hamarow went to South Africa for migration, that's how we found out in the investigation, we were also told by Mohamed Isse and his brother Somaney who lives in Johannesburg South Africa. Full Article

 

President Mahad Salaad: the Only Guarantor for Galmudug's Security and Prosperity

Galmudug State is not just the geographic heart of Somalia but the quintessential soul of the Somali nation. Within Galmudug, all the major Somali clan lineages- the Hawiye, Dir, Darood and Madhibaan are represented. No other Somali region or state is home to such diverse and influential clans with such extensive historical significance in Somalia as found in the Galmudug territory. Economically, Galmudug in 2024 is set to be the first location for the offshore oil and gas that the Somali Federal Government in partnership with the Houston-based American company, Coastline Exploration have commenced work on off the Hobyo coast since 2021. Full Article

 

Somalia's leader mourns death of Namibia president

Waagacusub.net - Somalia's President Hassan Sheikh Mohamud on Sunday mourned the death of Namibia President Hage G. Geingob and sent condolences to the government of the African country. Full Article

 

Somalia's ex-president warns of risk of 'political crisis' over plans to overhaul constitution

Waagacusub.net - Somalia's former President Mohamed Abdullahi Farmajo on Monday warned of the risk of political crisis over plans by the incumbent President Hassan Sheikh Mohamud to overhaul the constitution. Full Article

 

Hormuud telecom and Al-Shabaab's Strategy of Destroying Mobile Communication Masts

Hormuud's Assault on African Peacekeepers Figure 14: African Peace Keepers Hormuud launched a scorching public campaign against the Kenyan military forces in AMISOM in late August 2019. Full Article

 

Former Intel official stripped from NISA membership

Former Intel official stripped from NISA membership Full Article

 

PM KHEYRE USELESS AND COSTY OVERSEAS TRIPS.

PM KHEYRE USELESS AND COSTY OVERSEAS TRIPS. Full Article

 

Abiy says 'New Year' will be celebrated in Eritrea, Ethiopian Airlines to resume flights

Abiy says 'New Year' will be celebrated in Eritrea, Ethiopian Airlines to resume flights Full Article

 

Massive rise in Islamist militant attacks in Africa

Massive rise in Islamist militant attacks in Africa Full Article