The 50 most influential Africans: Abdirashid Duale
Having inherited Dahabshiil, his father’s disintegrating money- transfer company, as the conflict in Somalia worsened, Abdirashid Duale rebuilt the company and established it as the world’s leading hawala (informal fund-transfer system) outfit.
With more than 2,000 employees, a presence in 140 countries and an annual turnover of $140m, Dahabshiil is behind the phenomenal mercantile success of the Somali diaspora.
It handles a significant part of the $1.5bn in remittances received by Somalia, and plans to build a full-service bank in Somaliland’s capital, Hargeisa.
For Duale, boosting Somali business is in everyone’s interest: “Practical alternatives will protect vulnerable Somalis, particularly younger generations, from the pressure put on them by extremist groups linked to piracy and terrorism.”
See the full list of The 50 most influential Africans