Biography Of Abdirashid Duale (Age , Wife , Net Worth) – He is the CEO of Dahabshiil, a Dubai-based international money transfer firm. His father began the company in the early 1970s as a commodities trading firm, but it quickly expanded to provide money transfer services to Somali diaspora members wishing to send money home. Duale, 40, now makes the decisions and controls the firm.
Dahabshiil presently has more than 24,000 stores in 126 countries and employs over 2,000 individuals. In 2016, the company’s revenue surpassed $1 billion. The Dahabshiil Group also controls 95% of mobile telecoms provider Somtel and a significant commercial bank in Somalia. Duale has real estate in London, Dubai, and Hargeisa.
Abdirashid Duale, a renowned Somali billionaire and CEO of the international money transfer business Dahabshiil, has announced the release of $500,000 to the relatives of those slain in the recent Mogadishu attack.
Duale expressed his sympathies to the families of those killed and injured in Saturday’s tragic strikes at Mogadishu’s Zoobe intersection, and stressed that the firm will do all in its power to assist people affected by the incident, particularly those with minimal means.
“We are grieved because each life lost in our region means a hand that might have helped improve the region economically is gone,” Duale said at the $500,000 contribution announcement. “We are completely dedicated to assisting victims and assisting small traders in rebuilding their enterprises.”
A total of $250,000 of Dahabshiil’s $500,000 gift will be utilized to assist individuals injured in the assaults. The remaining $250,000 will be distributed to small traders who have lost their source of income.
Dahabshiil disclosed that the funds would be distributed through the eDahab mobile money service and overseen by an impartial committee to guarantee that they reach the families and small business owners whose activities were harmed by the assaults.
It also waived the eDahab fees for those both inside and outside the country who want to give to the victims using this program.
Dahabshiil, an indigenous African firm, was established in 1970. It was founded at the time as a new remittance initiative to allow migrants to transfer money back home to family and friends in East Africa.
Under Duale’s guidance, Dahabshiil has evolved into Africa’s largest money transfer company, operating in 126 countries globally, 40 of which are in Africa.
Duale is well-known for his charity contributions and habit of supporting Somalis in need and vulnerability.
In April, he teamed up with other business leaders in the nation to raise $8 million during a fast-paced dinner hosted by Somaliland President Muse Bihi Abdi to help reconstruct the country’s burned-out Waaheen market.
The capital contribution was essential in balancing an estimated $2 billion in economic losses from the fire disaster, not only in restoring the market but also in helping businesspeople and small business owners to restore their source of income and means of subsistence.