Home » Somali tycoon Abdirashid Duale’s Dahabshiil donates $500,000 to families affected by Mogadishu bombing

Somali tycoon Abdirashid Duale’s Dahabshiil donates $500,000 to families affected by Mogadishu bombing

by Mfonobong Nsehe
Abdirashid Duale

Abdirashid Duale, a leading Somali tycoon and CEO of Dahabshiil, an international money transfer group, has announced the release of $500,000 to the families of those killed in the recent bombing in Mogadishu.

While expressing his condolences to the families of those killed and injured in Saturday’s deadly attacks at Mogadishu’s Zoobe junction, Duale stated that the company will do everything possible to assist those affected by the attack, particularly those with limited resources.

“We are saddened because any life lost in our region means a hand that could help build the region economically is gone,” Duale said while announcing the $500,000 donation. “We are 100 percent committed to supporting the victims and enabling small traders to rebuild their businesses.”

A total of $250,000 of the $500,000 donation made public by Dahabshiil will be used to support those hurt during the attacks. The remaining $250,000 will be given to small traders who lost their livelihood-supporting businesses.

Dahabshiil revealed that the money will be disbursed through the eDahab mobile money service and supervised by an independent committee in order to ensure that the donation reaches the families and small business owners whose operations were impacted by the attacks.

Additionally, it waived the eDahab fees for people inside and outside the nation who want to donate to the victims using this service.

Dahabshiil, an indigenous African company, was founded in 1970. It was established at the time as a new remittance venture to enable migrants to send money to family and friends at home in East Africa.

Under the leadership of Duale, Dahabshiil has grown into the largest money transfer business in Africa, operating in 126 countries worldwide, 40 of which are in Africa.

Duale is well-known for his charitable donations and habit of assisting Somalis in times of need and vulnerability.

In April, he joined forces with other business leaders in the country to raise $8 million at a fast-breaking dinner hosted by Somaliland President Muse Bihi Abdi to rebuild the country’s burned-out Waaheen market.

The capital commitment, which was critical not only in rebuilding the market but also in allowing businessmen and small business owners to reclaim their source of income and means of livelihood, was instrumental in offsetting an estimated $2 billion in economic losses from the fire incident.

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