SOMTEL Somalia announces offering shares on the Public + Pictures

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Lawadaag Asxaabta...

SOMTEL expands 3G and 4G mobile and internet network, and eDahab mobile payment services for Somali customers and announces a share offering to the public.

The SOMTEL telecommunications company, which is a member of Dahabshiil Group, launched enhanced 3G\4G and eDahab services at a well-attended event in Mogadishu on Sunday.

SOMTEL announced it was offering shares for sale to the public, effective immediately. The exciting offer will enable those who have never previously done so to purchase shares, as well as experienced investors.

The new services will provide fast internet voice and data services, and mobile payment systems to large cities, smaller towns and rural areas, including several areas where SOMTEL and other providers were not previously supplying these much-needed services. The eDahab facility will provide financial services through the mobile phone. This will enable those in the unbanked community to access such a service for the first time. These important new developments will be of great service to the burgeoning e-business sector in the region.

The Founder and Chairman of Dahabshiil Group, Mr Mohamed Said Duale, who was at the launch, said: “SOMTEL will bring new and vital services to customers in Mogadishu and other places, including the latest voice and data services, and fibre-optic technology which provides the fastest internet in the region, all at competitive rates. Crucially, eDahab mobile payments and Dahabshiil Bank, which are fully compliant with local and international laws and regulations, will provide customers with access to banking and financial services. Customers, including those who have never before had access to the internet or banking, will gain access to new and better services at highly competitive rates.”

The event was well-attended, including by the Deputy Prime Minister of Somalia, Mahdi Guled Khadar, government ministers, members of parliament, prominent citizens, business leaders, members of the International community and representatives from civil society organisations, the religious community and women’s groups.

Officials who spoke at the event acknowledged the significant investments made by SOMTEL and Dahabshiil Group in order to supply fibre-optic technology and innovative telecommunication services which will contribute to the development of the region and its inhabitants.  It will generate new employment opportunities which will contribute to Somali stability and growth. The officials said SOMTEL’s share offering will provide exciting investment opportunities to a wide range of people.

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