Are Somalia really rich in the global sense? This question is the first thing that comes to mind when thinking of Somalia's rich. They are not considered among the rich class in most countries of the world, on the contrary, in some they are as many as others who struggle for survival. In Somalia, the obscenely rich are considered those who have money amounting to one million dollars, while the Somali who lives on less than one dollar a day is classified as living below the poverty line. In general, the rich in Somalia are a very small percentage.
Quick ways to get rich
There are many factors that help a Somali to become rich. He might get rich thanks to commerce, which is a widespread, albeit time-consuming, way to amass a fortune. It may be inherited from father to grandfather. Others may become rich through graft from governments or NGOs. This is due to the weakness of governments and their inability to track these people, as the members of society are always stunned whenever the reputation of a person who was known for his poverty becomes known, and he suddenly becomes rich.
Somali economist Ali Nur explains to Raseef22 that "people who resort to illegal gain receive facilities from government officials, especially officers." The work of the wealthy in Somalia is not compatible with the rich people of the world, due to the circumstances surrounding them. As we mentioned, most of the rich people of Somalia work in trade of all kinds, whether local, regional or international. The merchants distribute their activities locally among the governorates.
According to Nour, southern merchants transport fruits and vegetables to the northern governorates, specifically Hargeis and Bosasso, and do not ship any locally made goods to the south. Regionally, trade is uneven. Somali merchants import coffee and khat from Kenya, and export cows and sugar to it. From Ethiopia, traders import low-quality coffee, potatoes and khat.
Globally, major traders import goods from China, India, the United Arab Emirates and other countries. They also import electronics, building materials, etc. from China.
In addition to the above, the owners of telecommunications and contracting companies are among the rich people in Somalia. In Somalia, there are three telecommunications companies: HORMUD, NATION LINK and TELECOM. The largest of them is the Hormud Company. The researcher in Somali affairs, Abd Ali, says: "Somali can get rich quickly in Somalia by trading in fake or expired goods, low-quality goods or looted from relief agencies."
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