Tag: Ismail Ahmed

Business Hon of Africa News Somaliland 4 Min Read

Sahimiye Foundation wants De La Rue to cancel money printing tender

Sahimiye Foundation has called on De La Rue, the world’s biggest printer of banknotes, to cancel a contentious $9.6 million contract to print 380billion SL shillings for the Somaliland government. In an open letter to De La Rue, Sahamiye notes the decision to increase money supply in Somaliland will worsen…

Business News Somaliland 4 Min Read

World Remit boss accuses Somaliland Central Bank of printing new shillings to devalue currency

The founder and chairman of World Remit, Ismail Ahmed, has accused the Central Bank of Somaliland of printing new Somaliland shillings and releasing electronic money into the market, which has caused the devaluation of the Somaliland shilling. In a Facebook post on September 23, the chairman of the International Money…

Business News 7 Min Read

Somalilanders’ remittance businesses thrive worldwide

Thirty years ago, Ismail Ahmed snuck from then war-ravaged Somaliland into neighbouring Djibouti, hidden on the back of a tipper truck. His brother, who was working in Saudi Arabia, sent him money to pay for a flight to London to take on a scholarship to study economics. “That’s when I…