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How mobile money works in Somalia -Al-Barakaat Group Hormuud Telesom Golis

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Friday October 11, 2019 - 10:48:20 in Latest News by Super Admin
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    How mobile money works in Somalia -Al-Barakaat Group Hormuud Telesom Golis

    The launch of mobile money services 12. From 2002 until mid 2009, the company has been only providing GSM services, fixed line and internet services. In 2009, Al Barakat Telecom (also known as Telesom, Golis or Hormuud) launched ZAAD Service the cou

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The launch of mobile money services 12. From 2002 until mid 2009, the company has been only providing GSM services, fixed line and internet services. In 2009, Al Barakat Telecom (also known as Telesom, Golis or Hormuud) launched ZAAD Service the country's first mobile money service. In Puntland, the new service has been introduced as Sahal Service where as in Somaliland and S&C Somalia it was launched as ZAAD Service.
13.Telesom Company, Golis Telecom and Hormuud Telecom have excellent and permanent connectivity with one another. For instance, you can make calls from your Telesom Sim Card to both Hormuud and Golis mobile phones and the vice versa.
14. In the same way, you can use the money in your Telesom ZAAD account to pay your bills or buy goods and services in Puntland, SC Somalia or Somaliland– and the same goes for the other two. In other words, you can transfer money from your Telesom ZAAD account both to Golis and Hormuud customers and vice versa. This way, users can go anywhere in Somalia and still use the balance in their ZAAD account without any delays or difficulties and with out switching from one service to another. This further proves that these telecoms are one company with three names. Therefore, now that I have established the fact that all three companies (Telesom, Golis and Hormuud) are the same Al-Barakat Telecom Ltd., I will use Al-Barakat Telecom to refer to all three companies. Where necessary, I will also refer to them by their camouflage or separate names. In the same way, I will only use ZAAD Service to refer to both ZAAD and Sahal services.


How mobile money works in Somalia
 
15. With ZAAD mobile money service (aka ZAAD Service), users can pay bills, make purchases and pay employees, perform instant money transfer to another person and recharge airtime. credits. It can be made with small payments such as USD ten cents to large payments in the thousands of dollars simply by dialing a three digit number, followed by a PIN, the recipient’s phone number and the amount of the purchase. The entire process takes less than 10seconds.
16. But before customers/users can use it to pay bills or make purchases, they must have a positive balance in their ZAAD mobile account. To accommodate millions of users, ZAAD Service providers have established a large number of Mobile Money Stores (MMS) across all villages, towns, districts, roads and major markets of the country. Thus, to perform a cash in in to their Mobile accounts, users simply go to nearest MMS, handover some US dollars and ask for the equivalent amount in US dollars to be de-posited into their account. Within seconds, the user receives a text message confirming the deposit and indicating the new ZAAD account balance after the new deposit is added to the user’s account. In addition to MMS, users in Puntland and Somaliland can also go to some tens of thousands of independent money changers known as currency exchangers. By follow-ing a procedure similar to that of MMSs, users bring cash to money changers and ask an equivalent amount to be deposited in their mobile accounts.



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