ElPunto

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Posts posted by ElPunto

  5. Posted

    ^This is just nonsense. When a former bus driver removes millions of dollars from the CB and no one asks him to account - you can't seriously expect to say the governor has no blame. Clearly he isn't the only one to blame. But he runs this organization and if other officials are using the CB to loot - he should step down if he can't stop it. There is no integrity or ethics anywhere in Somalia.

  9. Posted

    The process will begin with PwC informing the relevant ministries when funds arrive. It will verify that their spending plans match donor objectives, release funds and ensure they get into the hands of intended recipients.

     

    “If the money is for salaries it will be transferred to the Somali employees and PwC will get receipts and signatures to show they got it,” Mr Omer said. The money flows will be recorded in a new computer system and reports sent back to donors every 15 days. “The bottom line has to add up,” he said.

     

    PwC is not being paid a retainer but will receive a commission of between 2 per cent and 4 per cent on all funds that reach their intended destination, Mr Omer said.

     

    OK - good point - clearly no one holds them accountable.

  11. Posted

    What a waste!

     

    Cabdisalaam_Hadliye.jpg

     

    WHEN the District of Columbia was in a financial crisis in the 1990s, Somali-born Abdusalam Omer joined a team that turned its "junk" bonds into investment grade paper.

     

    Now, as the new governor of the Central Bank of Somalia, he wants to transform a "failed" state.

     

    There is no escaping the scale of his new assignment. His office in Mogadishu is surrounded by the bombed out shells of former banks, symbols of Somalia’s shattered economy and its broken financial system after two decades of conflict.

     

    "We have to build brick by brick and person by person," Mr Omer said at the smartly painted central bank, which stands out against the shattered remains of the former Banca di Roma, Commercial Bank of Somalia and other institutions.

     

    "The task is so daunting," said Mr Omer, a dual Somali-US national who left Somalia at 16 and returned this year. But he is undeterred by the magnitude of the work that lies ahead.

     

  13. Posted

    Complicated;966039 wrote:
    macalin%20nuur.jpg

     

    This is the "Colonel", a former bus driver from London that never had a days training as soldier to his C.V let alone being a colonel. Mida kale $4.7 million sure beats the meager wages paid by Transport Of London

    LOL - he must be very well connected indeed. How did he end up in Xamar?

     

    I put all the blame for this on the new governor from DC - he should know better. And if he saw all this - he should've blown the whistle and resigned.

  17. Posted

    ^That is on an individual level. Chinese migrants going there and becoming successful in business etc. But there isn't a state sponsored and military led offensive to colonize and exploit others. The Chinese like to boast of a 5000 year civilization that didn't colonize and dominate others but just traded with them.

     

    BTW - have you read World on Fire by Amy Chua - it's an interesting book exploring ethnic minorities doing unusually well in host countries.

  21. Posted

    Aweys was the architect of Al-Shabaab and Somalis blowing up other Somalis to achieve power and then self-righteously cloaking it in Islam. A fitna never before seen in Somalia. He is a truly evil man. A warlord is one who killed and robbed for his own profit but what Aweys has done is much worse. He most definitely isn't like other warlords 'walking' around Mogadishu and elsewhere. He will be pumped for all intelligence that he has - and afterwards I hope the SFG executes him.