17 September, 2015
Press Release: TransferGalaxy and Telesom Launching International Remittance Partnership
TransferGalaxy and Telesom Launching International Remittance Partnership
Hargaisa, September 17, 2015 - TransferGalaxy and Telesom Company are pleased to announce launch of the International Remittance Service. The service will enable consumers to send money online from 22 countries in Europe to their loved ones directly through their Telesom ZAAD mobile money wallets.
TransferGalaxy and Telesom Company's International Remittance Partnership will benefit for the Somaliland community who are regularly receive money by providing the Diaspora, easy, simple, flexible and safe options to send money to families and relatives back home.
Remittances from Somaliland Diaspora community play an important lifeline and contributes to the reconstruction and development of the country, hence TransferGalaxy and Telesom Company's remittance partnership is an important opportunity and efficient platform to deliver convenient remittance service.
"According to the World Bank, in 2014, migrants living abroad sent an estimated total remittance of over USD75bn to their friends and family in the 14 receiving countries serviced by TransferGalaxy. Thus, TransferGalaxy will connect to mobile wallets in countries with significant Diaspora and where there is a demand for cost-effective, safe remittance services. The recipients can receive money through their mobile wallet. We are proud to be working with Telesom to launch this service and be part of this dynamic and exciting business." said Yosef Mohamed, CEO of TransferGalaxy.
"We are happy to partner with TransferGalaxy as it will extend the ecosystem of our mobile financial service, it will add value to our remittance market by extending the international remittance reach of our ZAAD users across Somaliland. We believe this financial inclusiveness will improve our people’s live and sustain their lifeline” said Abdirahman Shire, Head of Telesom ZAAD Services.
About Telesom Company
Telesom is the leading telecommunication company in Somaliland, it is a privately held company headquartered in Hargeisa, the capital city of the Republic of Somaliland. Telesom was established in 2001 and it operates in all of the Somaliland region's constituent provinces, where it has the widest coverage network. Telesom is a services oriented company. It has introduced several successful ventures, with its cores services being GSM, Landline, Internet, GPRS/3G and Mobile Money Transfer (ZAAD services). In June 2009, Telesom launched ZAAD Services, the country’s first mobile money service, since then, the service has gained significant traction, over 45% of Telesom GSM subscribers are active users of Telesom ZAAD. Telesom ZAAD is recognized as one of the most successful mobile money services in the world.
TransferGalaxy is Swedish web-based mobile money transfer (MMT) established in July, 2014 that enables you to send money to your loved ones through our website or app from 22 send countries to 14 receive countries. The recipients can receive money through their mobile wallet.