Many individuals and organizations have written about Somalia Mobile Money Services (also knowns ZAAD Service) which the three leading companies of the telecommunication industry in Somalia(Telesom, Golis and Hormuud) provide. How ever, all existing reports on this subject seem to have been built on one another with all bearing several similarities to one another and therefore all incorporating several misconceptions including the be-low:

1.Re the ownership of mobile money providers, all previous reporters presented Telesom, Golis and Hormuud as three distinctive and separate business entities ignorant about the history, evolution and dominant shareholder of these companies.

2. Almost all of them likened ZAAD Service toKenya’s Safaricom M-Pesa ignorant about the fact that there exist more key differences be-tween the two than similarities.

3.All previous reporters focused only on the positive aspects of ZAAD services surprisingly ignorant about the fact that mobile money serviceproviders in Somalia are the largest financiers of Al-Shabaab terrorist group activities.

4.There is no previous reporter who told the world or Somali authorities that, because these companies are unregulated nor are they scrutinized by Central Banks, they create money out of nothing by typing numbers into a computer there by flooding new money into the economy.The consequences are devastating because reports published by these individuals and organizations made countering terrorist funding next to impossible. For instance, in 2012 the United Nations Security Council Committee on Somalia and Eretria identified Hormuud’s largest shareholder as a prominent member of Al-shabaab. However, because the internet is overwhelmed by misleading.

research reports that mispresent Telesom, Golis and Hormuud as separate entities, the SecurityCouncil Committee failed to notice that the same terrorist, Mr. Jimale is also the largest share holder of both Telesom Company and Golis Telecom.Contrary to popular opinion, therefore, this document will report the unreported by unmasking the truth about and crimes committed by the so called Somali mobile money providers. 

Probably you might be wondering, "What are the basis for above arguments?” or "How am I different from previous reporters?”Well, the most important source of data for previous reporters is the Company’s managers and employees whereas my report is based upon a first -hand own experience and therein lies a key difference. Managers and employees will do what all managers and employees do, "keep your Company’s confidentiality”. So, previous reporters, most of them foreigners, reported what managers and employees of the companies they were writing about told them. On the contrary, being a curious customer of these companies from the time they were established to this day and socializing with un suspecting managers and employees, I have a first hand experience and a track record even to slightest changes ever made to their structure or operations and every major event in their history had either a direct or an indirect effect on me.This document will give readers an insider’s perspective on the truth about local mobile money providers in Somalia. It aims at drawing Somali government’s and international community’s attention to the criminal activities of major telecom companies in the country in order to effect an investigative action to be launched which may hope-fully deprive terrorists of funding and promote effective regulation of the mobile money industry and the finance industry more broadly.

Dear reader,

 

For my safety

, I cannot disclose my identity but you can reach me on

. I promise to you that I will be responsive to your questions. Sorry for any inconveniences caused by my anonymity.

Source: academia.edu