The GSMA certification of ZAAD, a mobile financial service by Telesom, is significant for the people of Somaliland. It represents progress and hope for the future. Telesom is setting a standard in mobile finance, contributing to a more connected and financially inclusive society in Somaliland
In a landmark achievement, Telesom’s mobile money service, ZAAD, has secured the prestigious GSMA Mobile Money Certification, a global recognition of excellence in mobile financial transactions.
This accolade, awarded after a rigorous independent evaluation, places ZAAD among the elite mobile money services worldwide, affirming its commitment to security, efficiency, and adherence to international standards.
The Global System for Mobile Communications Association (GSMA), an international organization with over 700 telecom companies as members, including Telesom, introduced the Mobile Money Certification in 2018.
This certification evaluates mobile money providers on over 300 stringent criteria, encompassing service quality, customer asset protection, data security, compliance with financial regulations, risk management, and the technological sophistication of mobile money systems.
Telesom, Somaliland’s largest telecommunications and mobile financial services provider, launched ZAAD in 2009 with the aim of revolutionizing the financial landscape of the region.
Over the years, ZAAD has become a cornerstone of Somaliland’s economy, providing vital financial services to millions and driving financial inclusion in a region where traditional banking infrastructure is limited.
“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 Kimberly Brown, Head of Mobile for Humanitarian Innovation at GSMA.
“With growing humanitarian needs around the world, new partnerships and innovations are vital to respond to increasingly complex crises, mobile money as a modality to deliver humanitarian cash assistance is one example.
In the GSMA Mobile for Humanitarian Innovation Program, we appreciate the longstanding partnership with Telesom that has enabled us to drive innovation and deliver new services to respond to humanitarian challenges.”
The certification marks a significant milestone for Somaliland’s burgeoning fintech sector.
By meeting GSMA’s rigorous standards, ZAAD has positioned itself as a leader in the mobile money industry, not just within the country, but across the Horn of Africa region. This achievement underscores Telesom’s dedication to advancing the financial system and providing secure, reliable services to its users.
The celebration of this certification took place at the Ambassador Hotel in Hargeisa, drawing a distinguished audience.
Among those in attendance were Dr. Ahmed Yusuf Idiris, the Minister of Technology and Communication, Dr. Ali Abdillahi Dahir, the Governor of the Central Bank, and Mr. Abdirashid Ibrahim Abdirahman, the Director General of the Ministry of Commerce and Tourism.
The event also attracted heads of diplomatic missions, representatives from international and local organizations, business leaders, scholars, and other notable figures.
The GSMA certification is expected to have far-reaching implications for ZAAD and Somaliland’s fintech industry.
With this recognition, Telesom is now better positioned to forge partnerships with international companies, enhancing the ease of doing business in Somaliland.
The certification also bolsters the trust and credibility of ZAAD’s services, which are integral to the daily financial activities of the community, from money transfers to financial management.
Telesom’s leadership expressed their gratitude to all those who contributed to this achievement. “This certification is a collective victory,” said Mr. Abdikarim Mohamed Eid, Chairman of Telesom’s Board of Directors.
“It is the result of the hard work and dedication of our employees, the trust of our customers, and the support of our partners and the government.”
Looking ahead, Telesom said it is committed to building on this success by continuing to innovate and expand its services.
The company views this certification as a stepping stone towards further growth, both within Somaliland and beyond.
As the company continues to push the boundaries of what is possible in mobile financial services, it is confident that ZAAD will remain at the forefront of the industry, driving financial inclusion and economic development in the region.
For the people of Somaliland, ZAAD’s certification is more than just an international accolade; it is a symbol of progress and potential.
As Telesom continues to lead the way in mobile financial services, the company is paving the way for a more connected, financially inclusive future for Somaliland and its people.
