Business this day

Business this day

Did You Know?

Docy turns out that context is a key part of learning.

Why The Somali Businesses are successful in Kenya

In Nairobi the number of Somali businesses is growing rapidly as tribes which thrived previously shrink in Numbers. Most hotels in the city are owned by the Somali, most apartments in estates like South C, Eastleigh and South B are owned by the Somali. One would wonder why they are so successful yet their numbers in Kenya are small. What are they doing different from what other Kenyans do?

The Somali live as a community, they help each other. These people pool finances together for projects.

If one Somali identifies a place to build an apartment, they would jointly contribute to help him build one such that when occupy it, they won’t pay full amount in rent.

Zero interest on loans. The Somali own several banks in Kenya which give loans to their members. The loans attract zero interest. This is different from the loans offered by the non Islamic banks which attract high i

They sell genuine products. There was a time only Kikuyu had hotels in Nairobi CBD.Some of them were selling donkey meat, dog meat and when people discovered that, they stopped taking meals in those hotels. The Somali saw a gap in the industry and started investing in the hotel industry. Within a short period of time, their hotels were all over. Right now in the CBD,most hotels are owned by the Somali.

Right now if you go to Luthuli Avenue, you can only buy a genuine smartphone from a Somali. If you go to buy a TV, you’ll only get a genuine from a Somali.

The Somali are also hard working and they are wise investors. They invest in businesses with good returns.

They don’t steal from each other.If a Somali employs fellow Somali to manage his business, the trust is 100%,they don’t steal from their own. This one makes them grow faster and expand to new areas.

They have their representatives in top government positions who defend and protect their interests. This is one reason their numbers are growing rapidly. They are even being issued with IDs.

Leave a Comment

Total
0
Share