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The emergence of Dahabshiil as a humble money transfer company onto Somali business scene 40 years ago was nothing to talk or write about at the time. One could never imagine it becoming a global multi-billion dollar multinational corporation that it is today.
When the current private multinational corporation was started, it was possible that the owner, Mohamed Saed Duale’s focus was to establish a good profit making family entity serving a public need for money transfer unavailable in the 1970s. Even he would never have foreseen the success it is today. The company handles more than US$ 1 billion dollars in money transfers annually. Current United Nations High Commission for Refugees (UNHCR) statistics estimate that there are an estimated more than 7 million Somalis alone living in the Diaspora most of whom remit money back home through Dahabshiil. The UNHCR has also since partnered with the company to facilitate its money transfer transactions.
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