TELESOM, the leading telecommunications company in the country on Wednesday issued a press statement in response to new government 48 hours’ ultimatum issued to company to shut down “ZAAD” mobile money service.
In accordance with the newly issued regulations and regarding the current economic issues, it was noted that mobile money services were among the causes of inflation.
TELESOM is aware of the hardships caused by the drought and challenges facing the citizens due to spiralling costs of living, hence our commitment to welcome any possible alternatives of reining in the situation(Inflation).
TELESOM has in the past took a leading role against inflation and at times supported both the current government and the central bank of Somaliland with millions of dollars in curbing inflation, we also constantly give advice be it spoken or in written form on ways of stabilizing and strengthening the value the Somaliland Shilling. On the other hand, TELESOM heavily invested in the ZAAD Somaliland Shilling service with the aim of boosting the Somaliland Shilling.
It’s apparent, ZAAD is recognized as one of the most successful mobile money services and has over the years promoted our economy in many ways, ZAAD has enabled citizens to send money through mobile phones to their relatives affected by the drought, not to mention the vital role the digital money transfers play in the local trade and money remittance.
Therefore, TELESOM clearly states ZAAD isn’t the cause of Inflation and since its introduction 8- years ago, the digital money transfers service has been working through different situations, whereby the exchange rate was its lowest.
TELESOM is a national company, which serves the needs through improving our people’s live and by sustain their lifeline hence will never in way or form harm them.
Lastly, ZAAD service has a significant traction, it operates in all the regions of Somaliland be it rural and urban areas, almost 99% of the population are active users of Telesom ZAAD and in all practicalities and technicalities impossible to shut it down in 48 hours.
Alla Mahad Leh
Mahmoud Haji Aden(Hadeed)
Deputy Chairman of TELESOM Group