A White Guy's inconvenient trip to Puntland and Somaliland inspires him to invest and turns into a billionaire Frankincense exporter

[Wir]

The biggest exporter of Frankincense in East Africa is an Isaaq man from Sanaag named Barkhad Hasan. He is the owner of Asli Maydi and the warehouses that David Sterlings team are showing in the videos are owned by Barkhad. He supplies David sterling with Frankincense

Here is a video where his group i visiting Asli Maydi


Here was an investment giving back to his community by Asli Maydi to his hometown Ceerigaabo. David Sterling was at the opening of this hospital too

Somalilanders own all of our commodities and natural resources and we own our markets. We don't let foreigners control our markets or snatch our resources

 

[Periplus]

It's mostly marketing. He buys frankincense in SL and turns it to oil in the US. He then bottles it and sells it in a pyramid scheme like structure to cadaan soccer moms. He makes big bucks through marketing. It's either xaram(+300% margins, scam like) or very questionable. Somalis should stick with the legitimate side.

The reason somalis are struggling with the legitimate side of the business is lack of connections in the west and trade barriers. Most westerners like a structured supply chain with guaranteed inventory. That's why they buy mostly from Dubai even though there isn't a single frankincense tree over there.

The one that really fucks us is the trade barriers. Importing frankincense resin and then distilling it in your home country is cheaper then buying the oil in SL or PL. Thats because there's a 20% import tarrif. Frankincense resin costs a few dollars per kilogram but if you turn it into oil it's worth up to 6000 euros per liter. So importing raw and prossesing it domestically is always cheaper.

The only way Somalis will get their fair share of the market is if they form a corporation where the government buys all the frankincense from the farmers and sells it internationally. Somalis produce like 80% of the supply of frankincense so we'd probably dictate the prices.(I probably don't see this happening within the next 50 years because of lack of centralized government/greedy businessman who would sell on the black market then).

On another point if I ever become madaxweyne first thing I'd do is round up all frankincense traders and publicly punish/embarrass them for their slave like practices. I'll make a thread about them in the future kkk.

Somalia needs to ban the sale of raw frankincense.

If they want to buy it from us then it has to be the distilled oil.

 

[gurey]

This is why I dont want our oil and gas explored because it will be absolutely exploited and we will be left with pennies to fight over by way of qabyalad. If we cant even profit from this or our fish and be paid decent imagine oil and gas.