Oct 11, 2010

Somaliland: Business Innovation Continues Despite Trials

The non-recognition of Somaliland may stifle large elements of the economy, but private enterprise is developing new technologies and techniques to meet the growing demands of a maturing customer base

Below is an article published by the Somaliland Times:

Qaran Express has introduced today [9 October 2010] new technology of money transfer today in Hargeisa the capital of Somaliland. In a well organized ceremony held at Maansoor Hotel Qaran Express introduced this mobile bank to audiences that consisted of company officials,government officials and business leaders. This new technology comes after ZAAD mobile banking merged with Qaran Express. This technology eases the money transfer system by allowing Diaspora to send money to their love once via their mobile, while at the same time they can also receive remittance from folks in Somaliland.

Mohamud Haji Aadan (Hadeed), the deputy chairman of Telesom Company opened the ceremony and narrated the history and the developments of the company. He told the audiences that it was June 2009 when Zaad Services began and during that small period the service has attracted many customers who uses it today.

Minister of Commerce, Abdirizak Khalif Ahmed also spoke at the ceremony where he thanked the two companies that have merged and said healthy competition is always good. Mr. Ahmed praised the two companies for the wonderful technology that they have brought in to Somaliland.

Among the other guests who spoke in the ceremony were the former vice president of Somaliland, Ahmed Yusuf Yasin who is the current Deputy Chairman of UDUB party, the deputy chairman of UCID party, Ahmed Mire Waqaf and the secretary of Kulmiye party.

Zaad service is a modern service that Telesom established in Somaliland. By using your mobile, you can deposit and withdraw your money. You can also purchase goods with it, pay bills and use it as prepaid card by sending it from your mobile.