Reddit users wondering why rich Somalis don’t invest back home

[Chaseyourdreamzz]

There wondering why Somalis would rather invest in Kenya Zambia other African countries etc

 

[Midas]

There wondering why Somalis would rather invest in Kenya Zambia other African countries etc

They actually do though. @Idilinaa It's kind of wild how these conversations on somali history,buisnessman,academics, etc get repeated all the time as some dude/girl probably a teenager or in their early 20s who knows very little about this stuff develops an intrested in somali related matters and makes unfounded assumptions out of ignorance (youthful ignorance if I'm being generous)

 

[Unicorn]

There wondering why Somalis would rather invest in Kenya Zambia other African countries etc

Whts there to wonder. Somalia has an awful government whether its northside or southside. People who have businesses want a predictable peaceful country to invest in. Somalia isnt known for tht. Also, most times you have to live only where ur tribe is. What if the places their tribe lives in is at war or people/customers are too poor to buy things. Ive noticed tht as long as the country isnt ran by Somalis our people become successful. Its sad.

 

[Chaseyourdreamzz]

They actually do though. @Idilinaa It's kind of wild how these conversations on somali history,buisnessman,academics, etc get repeated all the time as some dude/girl probably a teenager or in their early 20s who knows very little about this stuff develops an intrested in somali related matters and makes unfounded assumptions out of ignorance (youthful ignorance if I'm being generous)

I’m aware a lot of money has been poured into Somalia over the last 10-15 years by our business community especially xamar and other major urban centres

 

[gasara]

They actually do though. @Idilinaa It's kind of wild how these conversations on somali history,buisnessman,academics, etc get repeated all the time as some dude/girl probably a teenager or in their early 20s who knows very little about this stuff develops an intrested in somali related matters and makes unfounded assumptions out of ignorance (youthful ignorance if I'm being generous)

One time they will say that they don’t contribute and the next is that people send too much remittance back home. Which one is it Most of the rich families I’ve met here invested a lot back home. They practically live their majority of the time. They got nice guuris.

 

[AbdiBashirJR]

People have to understand for it to be called an investment in somalia, they have to expect to make money out of it meaning its low or even moderate risk on return anything past that is sadaqah. Ppl invest in nairobi because its safe and also is a somali hub.

 

[RidwanYare]

Obviously people are going to invest in nairobi heavily, I’m actually here right now for a month on a business trip with my uncle. You would be amazed by all the apartment biulding and buetifal housing and business built by Somalis.

somalia doesn’t even have the basics down that’s not even considering security

-no company registry
-no land registry
-no medical governing body to make sure standards in dogdy private hospitals are kept.

majority of the Somalis building this are Somalis from somalia. In fact there’s a huge unfinished apartment building across from where we are staying that was being built by Somalis from xamar but the project is at a stand still because they sent $52 million directly from xamar into a dodgy bank account and it was frozen by Kenyan authorities.

Also EVERY SINGLE somali MP or AMBASSADOR and police chiefs is here in nairobi right now enjoying the fruits of their labor, my uncle is very connected with all of them so when we are walking in the city we litterly run into all of them relaxing at the local malls and cafes.

He was explaining to me how they all run from somalia after they get there MP or ambassador salary on the 28th of the month lol.

parliament in somalia is closed right now and none of them stay in somalia after they get paid, they get there money and come and spend it right here. Cant blame them Kenya is a beautiful functioning country.

 

[RidwanYare]

Also after reading this guys Reddit post he seems a bit young and naive so I wouldn’t take him serious.

He is suggesting businessmen take over the goverment job for them and build roads and buy defense equipment with there money.??? LOL
Obviously only a toddler will think like this because how will they get a ROI(return on investment) on that.

I’ve spoken with these people and they are clear cut businessmen looking to make money not neandrathals that would throw there money into a dark pit to fulfill some fantasy of what somalia should be when it’s not.

 

[NordicSomali]

People have to understand for it to be called an investment in somalia, they have to expect to make money out of it meaning its low or even moderate risk on return anything past that is sadaqah. Ppl invest in nairobi because its safe and also is a somali hub.

True, ifs about investing in a safe environment.

 

[The truth seeker]

Somalia is a dangerous failed state and the people have a mentality that will keep it that way never putting my money there would rather invest in rising economies like El Salvador and Argentina

Kenya will be facing very hard times in the near future it’s becoming more and more unsafe for foreigners because the locals can’t find Jobs and there taxes are way to high .It owes billions to china that it can’t pay back and ruto is plundering literally all the wealth they have left

 

[RidwanYare]

Somalia is a dangerous failed state and the people have a mentality that will keep it that way never putting my money there would rather invest in rising economies like El Salvador and Argentina

Kenya will be facing very hard times in the near future it’s becoming more and more unsafe for foreigners because the locals can’t find Jobs and there taxes are way to high .It owes billions to china that it can’t pay back and ruto is plundering literally all the wealth they have left

Yea inflation here is a bit crazy a meal costs around 1,200 shillings which is around $7 the prices are becoming the same as living in uk or US but 95% of Kenyans are very miskeen and don’t cause many problems they don’t have the same ignorant mentality of Somalis. And there’s no clan foolishness here between Kenyans only Somalis.

 

[Midas]

Obviously people are going to invest in nairobi heavily, I’m actually here right now for a month on a business trip with my uncle. You would be amazed by all the apartment biulding and buetifal housing and business built by Somalis.

somalia doesn’t even have the basics down that’s not even considering security

-no company registry
-no land registry
-no medical governing body to make sure standards in dogdy private hospitals are kept.

majority of the Somalis building this are Somalis from somalia. In fact there’s a huge unfinished apartment building across from where we are staying that was being built by Somalis from xamar but the project is at a stand still because they sent $52 million directly from xamar into a dodgy bank account and it was frozen by Kenyan authorities.

Also EVERY SINGLE somali MP or AMBASSADOR and police chiefs is here in nairobi right now enjoying the fruits of their labor, my uncle is very connected with all of them so when we are walking in the city we litterly run into all of them relaxing at the local malls and cafes.

He was explaining to me how they all run from somalia after they get there MP or ambassador salary on the 28th of the month lol.

parliament in somalia is closed right now and none of them stay in somalia after they get paid, they get there money and come and spend it right here. Cant blame them Kenya is a beautiful functioning country.

Not gonna lie that kinda pisses me off. They need to make a law that if your a somali mp your family has to live in somalia and that no more than 10% can be outside the country at anytime.

Since the idea that these greey fucks get to all just leave the country when the govt is not in session sounds like a fucking joke.

 

[TheManWhoIsAlive]

There wondering why Somalis would rather invest in Kenya Zambia other African countries etc

This person doesn't know anything. I've literally seen many people invest back home. They're buying land and making shops right now. Just because Somalis are investing in Zambia, doesn't mean they're not investing in Somalia. Somalis are business savvy, they'll invest anywhere where they can make money.