Somaliland mobile money service gets GSMA certification
Nairobi
By
James Wanzala
| Sep 18, 2024
Somaliland's telecommunications company Telesom has received recognition for its mobile money service ZAAD from the Global System for Mobile Communications Association (GSMA).
The certification, the company said, represents a significant leap forward for the self-declared autonomous region of Somalia.
Telesom also said the certification places ZAAD among an elite group of mobile money services worldwide, affirming its adherence to rigorous international standards of security, efficiency and regulatory compliance.
In a region where traditional banking infrastructure is sparse, mobile money services like ZAAD have become the lifeline of the economy.
READ MORE
State extends high sulphur fuel import waiver by six months
Buxton contractor clarifies on project status as tensions escalate
Why more Kenyans are buying expensive smartphones on credit
Co-op Bank investors to receive Sh8.8b payout after profit surge
Irony of rising tea exports, shrinking gains for farmers
Parliament calls for special audit into Quickmart share sale
Why the super-rich are abadoning the property market
Kenya's seafarers battle unpaid wages, poor working conditions
KeNHA reports over 99 per cent axle load compliance
KEBS seeks tougher rules on imported and locally made goods as MPs review drafts
Since its launch in 2009, ZAAD has transformed how Somalilanders conduct their daily financial transactions, from paying for groceries to sending money to relatives in remote villages.
The GSMA certification, introduced in 2018, evaluates mobile money providers on more than 300 criteria, including service quality, customer asset protection, and technological sophistication.
GSMA has over 700 telecom companies as members.
"Connectivity and digital technology have profound implications in crisis settings. They allow crisis affected populations to access lifesaving information, connect with loved ones, and receive vital humanitarian assistance," said GSMA head of mobile for humanitarian innovation Kimberly Brown.
With growing humanitarian needs around the world, Brown added, new innovations are vital to respond to increasingly complex crises.
For Telesom, the journey to certification was a years-long endeavor that required significant investments in technology and training.
"We had to reimagine our entire system. It wasn't just about meeting standards, but about fundamentally improving how we serve our customers," said Mr Abdikarim Mohamed, chairman of Telesom board of directors.
Cut off from international financial systems and ineligible for most foreign aid, Somaliland has had to rely on homegrown solutions and diaspora remittances to fuel its development.