Somalia's economic opportunities are endless

[InvisibleHand]

I can't help but think of how much Somalia relies on its imports. In fact, its imports exceed its exports by $500 million (imports: $800 million, exports: $300 million). That is a serious trade deficit considering how small the Somalia economy is.

If any of you has been in Somalia, you would have saw how practically everything is imported. From soap bars, soda cans, curtains, toilet paper, furniture to glass cups, it is interesting to point out that all these simple things we get from the UAE and China can easily be produced in Somalia. International trade is of course very important and of course its perfectly fine to have these sorts of products imported from foreign countries but there has to be some degree of self-reliance. International trade is usually for things you can't produce (for example: Russia importing bananas).

The next couple of years might be very interesting. Since there is some relative peace and stability in the capital and in large parts of the country, Somalis from the diaspora should flock back home and start these types of industries rather than building a hotel or a restaurant. I always wondered why Somalis didn't focus their time in creating products that we can easily make ourselves.

[sav12600]

sxb despite knowing the profit and befefits to it somalis will avoid biulding a factory that manufactures essenials such as soap, toilet papers and ect they would rather go to the end of the world where the product is cheap as hell and bring it to somalia and re-sale it and make a killing out of it, fuck it they do it everywhere, you'll see a somali shop in minasota or london where practically all the drinks are imported from yemen and other contries for cheap price and re-sale at local prices making a healthy profit.

take zambia for an example, 99% of the somali business men there are all in one sector, transport and each company has over 50-100fleet of trucks. trailer trucks transporting sugar,copper, maize and tanker trucks transporting petrol/diesel to gas stations. each truck cost's about $70k and these fuckers have buy it from south africa on montly bases about 5-10, but one think you will never see them do is, construct a factory or invest in a sugar plantation or related industries. and when you ask why they'll just laugh and walk on simply because they're just not into it.

[original dervish]

^^^^^niggas getting paid......thats all you need to know about business boy.

[InvisibleHand]

sxb despite knowing the profit and befefits to it somalis will avoid biulding a factory that manufactures essenials such as soap, toilet papers and ect they would rather go to the end of the world where the product is cheap as hell and bring it to somalia and re-sale it and make a killing out of it, fuck it they do it everywhere, you'll see a somali shop in minasota or london where practically all the drinks are imported from yemen and other contries for cheap price and re-sale at local prices making a healthy profit.

take zambia for an example, 99% of the somali business men there are all in one sector, transport and each company has over 50-100fleet of trucks. trailer trucks transporting sugar,copper, maize and tanker trucks transporting petrol/diesel to gas stations. each truck cost's about $70k and these fuckers have buy it from south africa on montly bases about 5-10, but one think you will never see them do is, construct a factory or invest in a sugar plantation or related industries. and when you ask why they'll just laugh and walk on simply because they're just not into it.

Thats the thing though. Producers make the money, not the store owners. If you can produce a product, you will possibly make millions if you are for example the only one making washroom products (shampoo, soap).

I honestly think store owners are only importing their goods because there are no basically producers in Somalia. If this wasn't the case, I am sure they would be interested in selling Somali made goods considering the tariffs and shipping costs that they have to pay to get their products from overseas. Sometimes, these store owners go to Dubai themselves to order the things they want to sell back home. This is not really a good idea for the long term.

[Shirib]

It takes a lot of capital to start a factory and start producing goods. A long with the capital it takes, u should expect to endure losses for the first couple of years because the capital invested was so great. Majority of Somali businesses aren't willing to invest that kind of money, when importing is working fine for them.

[shaab_]

Somalia is a wasteland. It's dry as hell and the worse land in East Africa. The Ethiopians have the cool highlands and the Kenyans have the great savannas. Somalis have shit in comparison. Only the South of Somalia is somewhat agriculturally useful, but Bantus have taken over that place and it's barely even Somali. We are cursed with horrible land.

[Meseret]

Somalia is a wasteland. It's dry as hell and the worse land in East Africa. The Ethiopians have the cool highlands and the Kenyans have the great savannas. Somalis have shit in comparison. Only the South of Somalia is somewhat agriculturally useful, but Bantus have taken over that place and it's barely even Somali. We are cursed with horrible land.

did you get raped by a bantu?

[shaab_]

Somalia is a wasteland. It's dry as hell and the worse land in East Africa. The Ethiopians have the cool highlands and the Kenyans have the great savannas. Somalis have shit in comparison. Only the South of Somalia is somewhat agriculturally useful, but Bantus have taken over that place and it's barely even Somali. We are cursed with horrible land.

did you get raped by a bantu?

I'm just telling you how it is, the inter-riverine area, Somalia's most useful region is barely Somali with a high degree of non-Somalis.

[InvisibleHand]

Shirib

You make a good point but that goes for other business too (hotels, restaurants) in regards to losses.

It would be a good idea then, since the investors are not interested, for the government to perhaps start a factory and start producing some goods. They can make some revenue needed so roads and infrastructure can be built. That's another thing I've wondered; a part from loan and aid money, how will the country get funds?

This would be a good idea for them

[InvisibleHand]

Shaab

Somalia is blessed with cotton, metal and other fruits. There are many things to produce with those things

It doesn't only have to do with production of goods but even focusing on exporting fish. We are under performing in this area but confident things will turn around

[shaab_]

Shaab

Somalia is blessed with cotton, metal and other fruits. There are many things to produce with those things

It doesn't only have to do with production of goods but even focusing on exporting fish. We are under performing in this area but confident things will turn around

You can only grow that stuff in very few regions. The majority of the country e.g. regions like Galgaduud, Mudug, Nugaal etc basically can't grow anything.

[MujahidAishah]

Somalia is a wasteland. It's dry as hell and the worse land in East Africa. The Ethiopians have the cool highlands and the Kenyans have the great savannas. Somalis have shit in comparison. Only the South of Somalia is somewhat agriculturally useful, but Bantus have taken over that place and it's barely even Somali. We are cursed with horrible land.

Somalis r not farmers they are herders...

[shaab_]

Somalis r not farmers they are herders...

You can't have a first world economy based on herding.

Somalis are doomed to poverty forever.

[MujahidAishah]

Somalis r not farmers they are herders...

You can't have a first world economy based on herding.

Somalis are doomed to poverty forever.

Somalis business bey haybad uu leyahiin

[shaab_]

Somalis business bey haybad uu leeyhiin

LOL, Somali businesses in Africa are all super inefficient and totally lack creativity as they all copy each other with the same shitty ideas (xawalad, hotel, trading the same crap, same cars everywhere etc), there's no local innovation whatsoever..