Welcome!

Symbian Authors: Jack Newton, Kevin Benedict, Matthew Lobas, Shelly Palmer, RealWire News Distribution

News Feed Item

Dahabshiil CEO and Dr Laura Hammond Discuss Preliminary Findings of Remittance Research

LONDON, November 7, 2012 /PRNewswire/ --

Abdirashid Duale, CEO of Dahabshiil - one of Africa's largest remittance businesses - today discussed the economic future of the Somali territories at an event at London's prestigious School of Oriental and African Studies, University of London.

Mr Duale joined senior lecturer and expert on the Somali regions Dr Laura Hammond in discussing the preliminary findings of new research into the diaspora's role in promoting economic development through remittance finance. The research specifically sought to determine differences in levels of remittance dependency between urban and rural communities.

As part of a series of talks organised by the SOAS Centre for Migration and Diaspora Studies, Mr Duale outlined the essential role remittances continue to play within the Somali territories. The Somali diaspora sends around $1.6 billion back home each year, a stable capital flow that far exceeds what the region receives in aid. This vital income has helped to sustain households and businesses, and has protected them during crises such as the acute food and water shortage which continues to affect some areas.

With approximately half of urban families receiving remittances from abroad, the commonly held belief is that these communities enjoy most of the benefits at the expense of poorer, rural groups. The research, conducted by the Food and Agricultural Organisation's Food Security and Nutrition Assessment Unit (FSNAU) for Somalia and co-led by Dr Hammond and Dr Zoltan Tiba of FSNAU, challenges this notion and shows that many rural economies are also closely tied to remittance inflows - either directly or via family connections with those living in the cities. The research did however confirm that approximately forty per cent of all Somali households receive remittance income.

Addressing the question of distribution between urban and rural areas, Mr Duale said:

"In my experience, remittances have been instrumental in alleviating poverty and nurturing local economies in some of the Somali territories' most remote locations. Particularly through its work with IFAD, Dahabshiil has invested heavily in expanding its network of money transfer agents in order to reach those communities.

"Remittances are primarily based on peer-to-peer personal relationships. The rapid spread of new telecommunications technology has been essential to stabilising and increasing remittance flows by allowing people to keep in closer contact with their families in the diaspora."

Dahabshiil Group entered Somalia's booming telecoms industry in 2008 with the acquisition of Somtel, a fast-growing firm specialising in mobile and high speed broadband.

This expansion is indicative of the synergies between the region's telecommunications and remittance industries. Diaspora money has poured into telecoms as young, dynamic firms have competed vigorously for market share. As technology has advanced, communications between transfer agents has been greatly facilitated.

Mr Duale said: "In the early 1990s, high frequency radio was the primary means of communication and money transfer. Two decades later the Somali territories offer some of the most advanced and competitively priced telecoms services in the world. Dahabshiil has rapidly assimilated this new technology as it has become available."

With seventy per cent of Somali families now owning at least one mobile phone, the increasing connection between migrants and their families has fanned demand for remittances. Transfers to Hargeisa, as Mr Duale explained, tripled during the mid-90s as telecoms services first became widely available. After twenty years of upheaval, both industries have become central to maintaining important familial and social connections, often across long distances.

Diaspora investment has also been a critical factor in the growth of the energy, import/export, manufacturing and construction industries. As the security situation in Mogadishu has improved, Mr Duale indicated that new houses are springing up as families look to return home.

"The construction sector in particular is benefitting hugely from remittance inflows. A rising property market will create wealth and jobs, and will be an important part of the capital area's economic recovery," he said.

As well as fuelling economic development, remittances have played an important part in reconciliation across the region. By funding conferences and mediation efforts, the diaspora has made a significant contribution to the peace process and has stayed close to the political life of the territories.

Discussing the potential value of her new research into remittance flows, Dr Hammond said: "This research will help significantly in improving our understanding of what is one of the main drivers of the Somali economy.

"Interaction between diaspora and local communities is imperative to the continued rehabilitation of the Somali region. A greater appreciation of remittance penetration will undoubtedly help to shape policy development."

Notes to Editors:

Dahabshiil Group is one of Somalia's largest private sector employers and spans money transfer, banking, telecoms and import/export. As well as providing a lifeline for individuals, families and businesses, Dahabshiil serves over 95% of international organisations operating in the region, and provides strong support to Somali communities at home and abroad through ongoing CSR projects. It serves migrant communities all over the world, and is fully compliant with international regulations.

Dr Laura Hammond is a Senior Lecturer in Development Studies at SOAS and an expert on food security, agrarian development, migration and diaspora investment in the Horn of Africa. Recent academic papers include Cash and Compassion: The Role of the Somali Diaspora in Relief, Development and Peace-building, commissioned by UNDP Somalia and published in January 2011.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that Outscale will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which in...
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
Everywhere we turn in our industry we can find strong opinions about the direction, type and nature of cloud’s impact on computing and business. Another word that is used in every context in our industry is “hybrid.” In his session at 20th Cloud Expo, Alvaro Gonzalez, Director of Technical, Partner and Field Marketing at Peak 10, will use a combination of a few conceptual props and some research recently commissioned by Peak 10 to offer a real-world consideration of how the various categories of...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, will motivate why realizing the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insigh...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
SYS-CON Events announced today that EARP Integration will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. EARP Integration is a passionate software house. Since its inception in 2009 the company successfully delivers smart solutions for cities and factories that start their digital transformation. EARP provides bespoke solutions like, for example, advanced enterprise portals, business intelligence systems an...
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs oft...
As cloud adoption continues to transform business, today's global enterprises are challenged with managing a growing amount of information living outside of the data center. The rapid adoption of IoT and increasingly mobile workforce are exacerbating the problem. Ensuring secure data sharing and efficient backup poses capacity and bandwidth considerations as well as policy and regulatory compliance issues.
The 21st International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo Silicon Valley Call for Papers is now open.