Idilinaa
VIP
Private sector in Somalia is extremely efficient and community driven, it is delivering housing , water, food, electricity, internet, schools, telecom even to small rural towns. It funds infrastructure. I have also come to realize in my research that the private sector even behaves almost akin to a welfare provider.Yeah, I found it peculiar when I was in the northeast relatively recently how there weren't really slums. There was just one semi-shanty town outside Bosaso that wasn't very large and was inhabited entirely by IDPs from Koonfur rather than the local people.
An aunt of mine used to often boast to me that no one in Puntland or Somaliland goes hungry. "Not everyone is rich, yes, but every man has a bed to sleep on and a meal on his table." — kinda wild when you compare them to many other parts of the world with far more in terms of access to resources and a functioning central gov.
You will see many Somali businesses fund free schools, medical clinics, and food programs, something rare in corporate Western economies.
Private banks will even hand out free microfinancing of small businesses

Salaam Somali Bank contributes to Somalia’s economic growth through a free microfinance program
Salaam Somali Bank contributes to Somalia’s economic growth through a free microfinance program

Somalia is actually not poor in reality, because it generates wealth but also distributes it and widely circulates it. The capitalism in Somalia operates very ethicall in many ways and is self sustaining, its very unlike what you find in many places. Other countries have to have government to step in to redistribute wealth to avoiding hoarding, curb exploitation, fund services etc.
It makes Somalia extremely unique. Unlike exploitative capitalism in Western and other societies, Somali banks, businesses give back to their communities.
Most of the drivers of poverty or even hunger that you see reported on is not related to it's economy at all. There is no shortage in money or food or basic delivery of services, but people mistakenly believe it. It comes from mostly Southerners who are victim of floods and Alshabab violence that are displaced and they are resettled into IDPS even to Bosaso, they have been moved there by aid orgs. They suffer from disruption of livelihood, access to resources and dispossession.
The IDPs all lived in similar houses like the ones we shared, led regular lives but were displaced from them and lost their land and homes etc. You can see it in the drone footage i shared of towns like Jowhar, Beledweyne in the agricultural thread they lead regularly not unlike the North or East and have access to basic services
The idea that Somalia is "poor" is based on misunderstanding the sources of poverty. The economy is actually self-sustaining, but specific regions (mainly IDP areas) face issues due to displacement, not economic failure.
The private sector provides social services, distributes wealth, and sustains economic activity, unlike many other African economies.