President Silanyo attends the Launch of Dahabshiil Bank International


By Goth Mohamed Goth

President Ahmed Mohamed Mahmoud Silanyo today was the guest of honor at the opening of the ultra-modern Dahabshiil commercial Bank headquarters located in the central business district in Hargeisa.

President Silanyo speaking moments after cutting the tape to new multi-million Dahabshil Bank business complex said, “I happy to attend the grand opening of Dahabshill Bank , Dahabshill group has played an important role in the development and progress made in the country since the time of the civil war , today the opening of the Dahabshiil Islamic bank hails a new era and I believe it contribute to the economic development of this nation ,Somaliland needs investment in order to grow our economy and increase the business opportunities ,I do hereby take this opportunity by inviting both local and foreign investors to come invest in the country.

This is a historic day, as this ceremonial induction of Dahabshiil Bank in Hargeisa today marks the official launch of the first commercial bank in Somaliland, a new step towards development.

This brand new and relatively ultramodern building here is much more than just a bank building. It will also house the first truly modern mall in Hargeisa, which is substantial in size, and is also being launched today..   Dahabshiil invested more than $12 million in this project, the biggest investment of its kind in Somaliland. Dahabshill hopes  new, the varied businesses will benefit from this space and open in the mall, which will also provide a convenient, exciting shopping experience for customers.

The building will house other businesses and facilities too, including a state-of-the-art hotel, conveniently situated in central Hargeisa. In this way, the Dahabshiil company ventures into the world of investment in high-tech hence encouraging businesses to thrive and grow in Somaliland, in a truly modern environment. Neither the sun nor the rain will get in the way of business in the new building, which will also be a safe and secure place to shop and do business in.

Mr. Abdirashid M Dualeh , the CEO of Dahabshill speaking at the opening ceremony of the new Dahabshiil headquarters said, “This is an emotional day for Dahabshiil. The business started more than forty years ago, as a small shop in Burao, and now we are launching a commercial bank, mall and other ventures in this beautiful building, the first of its kind in Somaliland. Unlike some Somalis who invest their money outside, today is proof that we invest our money here, a show of faith in Somaliland, its stability, its good environment to do business in, and its future.

“I hope it will serve as an inspiration for all Somalis, to show what you can do if you work hard and have good ideas, even if you start with nothing, and even – if like us – you lose everything and have to start again from scratch. Aim high, but always keep your feet on the ground. Also, I hope the new building will serve as a launch pad for other Somali businesses. Come and join us”,He said.

The CEO of Dahabshiil Group went on to say “The next phase of Dahabshiil Bank’s development will be to introduce ATM machines nationwide, which we hope to revolutionise life in the country. We have signed a contract with Mastercard to offer credit cards to our clients soon. Many people in Somaliland have never had a credit card in their life and possibly most of them don’t know what a credit card is!

“Opening such a project in Hargeisa is a truly special day for us, but I would like to remind you that we are already open elsewhere – from our headquarters in Djibouti, to Muqdisho and Bossasso. Who knows where we will open next?!?! Kismayo, Kenya, Burao, London and although todays is the official launch of our banking services ; We have already invested and helped more than 700 businesses, enabling those who would not previously have had the opportunity to get off the ground”, Mr. Abdirashid stated.

Mr. Abdirashid added , “As you’re are well aware of Dahabshiil is the largest Africa-based money transfer business with agent locations and branches in 126 countries worldwide. For over 40 years it has provided a valuable lifeline to many in East Africa and the Horn of Africa and it remains committed to its original values of trust, reliability, integrity and customer-focus

“All of this creates jobs, enables people to start businesses, and helps communities  develop. To make this work better and faster, we (Dahabshill Group)would like to invite investors  including the international community and international banks to work with us. But what makes me most proud today is to be launching our bank – and this beautiful new building.  It is proof of what a place that only twenty years ago was destroyed by war, especially this city of Hargeisa which was literally reduced to rubble, can do – if its people are resilient, hardworking and dynamic’,the Group CEO concluded .



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