The three most successful major companies in Puntland.

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barbarossa
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The three most successful major companies in Puntland.

Post by barbarossa »

Dahabshiil, Golis, and Mubarak Constructions are, hands down, my picks for the top three major corporations in Puntland.
Dahabshiil dominates the money transferring industry (as it does indeed throughout the whole of Somalia and some parts of the continent) controlling, in my not so scientific estimation, seventy to seventy five percent of the industry. To appreciate how dominant Dahabshiil is, and the vast amount of cash it handles on daily basis, one needs only to visit any one of their numerous branches in every major Puntland town; you would be astonished to see how far back the line-ups are often stretched with throngs of people impatiently waiting not only withdraw their remittance received from overseas but also to use other banking services specifically tailored toward local and international businesses. Dahabshiil seemingly keen to diversify its business, as any savvy corporation would, is now reportedly involved in other industries such as importing food stuff, real estate development, telecommunications, etc.
Golis is another company that is thriving in Puntland dominating virtually unchallenged in the telecommunication sector. It has a strong grip in the mobile business and probably can boast, without exaggeration, of having ninety percent of mobile users in Puntland as its customers. And now with its recent launch of mobile banking dubbed Sahal Services, in which customers can buy anything, transfer and withdraw money anywhere, without the much dreaded inconvenience of exchanging cash, Golis, is without a doubt, bound to establish itself in the business text books as a leading pioneer in this promising and emerging industry.
Couple of peculiarities concerning Golis are worth mentioning here: first is that it operates mainly within the confines of Puntland and does not extend beyond to other Somali regions in any significantly viable or competitive way. Second and this seems to me of far more alarming to the general public, is its alleged, longstanding, discriminatory policy of not hiring female staff. I heard from well placed, reliable sources that Golis has at last realized the absurdity of this bigoted policy, and is now set to reverse it and start hiring women for the first time in its history sometime at the beginning of the New Year.
Mubarak Constructions is another Goliath in its respective industry. It dominates the construction and real estate development business in Puntland with little competition.
Every year MC builds hundreds of custom made houses worth millions of dollars, with dual purpose of either selling or leasing them for profit. It also receives the lion’s share of major contracts awarded within Puntland for developing business, government or private owned properties. Mubarak is also heavily involved in manufacturing and importing of construction materials.
Disclaimer: Lest I am accused of deliberately neglecting a certain clan’s company, it is incumbent upon me to mention here that there are many other successful business entities in Puntland other the ones above named; I have chosen these three companies solely for the purpose of comparison; and in my humble opinion, these three are largest and most successful companies in Puntland today in terms of brand recognition, holdings and consumer loyalty.
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