Aid agencies are hindering development and undermining efforts to attract investment in Somaliland, according to a former World Bank and UN official turned entrepreneur.
Ismail Ahmed, the founder of the money-transfer company WorldRemit, claims Somaliland, his birthplace, has had to battle “negative PR” from aid agencies exaggerating their role to protect their interests. Somaliland declared itself a sovereign state independent of Somalia in 1991, but it is not recognised internationally.
The British-based Ahmed has launched the Sahamiye Foundation, with a 10-year plan to give away more than half of his wealth, amounting to $500m (£365m), to help Somaliland, primarily in health and education. “Aid agencies exaggerate what they do in markets like this. A tiny fraction of what they raise reaches intended beneficiaries,” he said.
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