Dahabshiil says Ticad agreements will help Africa a great deal

Monday August 29, 2016

Dahabshiil CEO Abdirashid Duale. /FILE

International money transfer company Dahabshiil has lauded Japan's efforts to increase investments in Africa noting the inter-regional trade will promote the continent's development.

Speaking shortly after the conclusion of the VI TiCAD on Sunday evening, Dahabshiil CEO Abdirashid Duale who attended the conference said the Japan-Africa development partnership could not have come at a better time.

During the conference, Japan pledged Sh3 trillion in various investments geared at transforming Africa's economy.

"As Dahabshiil, we know the importance of partnerships since we operate across the continent, as well as in Europe, North America and the Middle East and have traded with Japanese companies,” Duale said.

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Japanese Prime Minister Shinzo Abe told African leaders during the conference that his country will commit $30 billion (Sh3 trillion) in public and private support for infrastructure development, education and health care expansion in the continent.

Abe said the package would be spread over three years from this year, and include $10 billion for infrastructure projects, to be executed through cooperation with the African Development Bank.
"The investment in infrastructure is a welcome move as it will promote development and increase inter-African trade and cooperation," added the Dahabshiil CEO.

Dahabshiil is a major money transfer company in Africa with presence in over 150 countries and is the dominant financial services firm in war-torn Somalia.

The company which has created job opportunities for thousands of youths in Somalia to stem radicalisation of young people said partnerships like TICAD will open more opportunities for employment.

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