Dahabshiil Group CEO Statement
Over the past year at Dahabshiil we have continued improving services and keeping ahead of technological change and have succeeded in attracting an ever-growing nucleus of core customers to use our best-in-class services.
Whether in the banking sector, remittances, telecommunication or in the facilitation of e-commerce through e-Dahab – the newest addition to Dahabshiil’s portfolio of services – our objective is to secure our position as one of Africa’s leading businesses. We continue to improve our offering for customers and communities in all the geographic areas in which we operate.
Central to our strategy moving forward is our determination to adhere to the highest possible standards in all the products and services we provide. Work to implement our strategy continues. We see very attractive growth prospects across Africa’s financial services sector notwithstanding the difficulties in the region. The challenging environment in the Somali remittance market has only deepened our resolve to ensure this region is not left underserved and financially excluded. The company’s strict adherence to local laws and regulations in all locations that our services and products reach is a pillar that has made our brand a byword in trust and dependability. We are one of very few large indigenous African businesses in the money transfer sector and thus are honoured with the responsibility of fostering socio-economic development across the continent.
We are equally proud of our lineage as a Somali family business. Over the past forty years Dahabshiil has grown to become an African success story of hard work, dedication and determination. While Dahabshiil Group continues to expand and innovate, retaining our original values of trust, integrity and responsibility remain absolutely core to the business. These values were set forth by the company’s founder, Mr. Mohamed Saeed Duale, and have been integral to the company culture ever since.
As part of our culture, we are committed to becoming an even more socially responsible and sustainable organisation. Commitment to the principles of corporate social responsibility through strategic partnerships is a foundation of the business. Dahabshiil Group has an established Corporate Citizenship policy which is committed to rehabilitating and regenerating struggling regions in Africa by increasing access to education, health care, improved infrastructure and peace-building initiatives. The development of physical infrastructure will remain our primary CSR focus over the next year at least. In major towns in Somalia we have made substantial contributions towards the building and maintenance of roads. Health, education and emergency aid also feature on our CSR agenda, indeed we invest 5 per cent of annual profits into community regeneration projects involving the construction of schools, hospitals, agriculture and sanitation.
I am proud of our unique contributions as a business not only at the forefront of the provision of desperately needed financial services but also in working with international and humanitarian organisations to facilitate the transfer of aid and in-kind support to marginalised communities.
Over the past few years we have made a concerted effort to significantly upgrade our KYC, CDD, anti-money laundering and FS compliance procedures to stay ahead of the rapidly changing regulatory landscape.
Despite the heightened international scrutiny of money flow, Dahabshiil has consolidated its position in the money transfer sector as the leading facilitator of transfers to Africa’s developing markets.
Continuing to expand our money transfer services into more remote regions across the African continent will remain a core focus of our global operations and local compliance teams. Meanwhile, we will be continuing to digitise much of our processes over the next 24 months, including investing in online transaction processes and a wider rollout of our e-Dahab mobile money service providing for our consumers a fast, reliable, modern and convenient service.
Corporate business, traders, non-governmental organisations and individual subscribers of e-Dahab have already begun benefiting from the inter-connected, hitch-free services that our eWallet provides: sending and receiving money both locally and internationally, using P2P, P2B and bill payment services and uploading multiple clients/receivers at one-click (e.g. to pay salaries/wages or send supplementary assistance to beneficiaries in remote areas). The service launched in Somaliland in January 2015 and in September 2015 expanded into Puntland. We aim to extend our e-Dahab services to hitherto uncovered areas in the near future.
On behalf of the Board, Management, staff, agents and partners of Dahabshiil Group, I wish to extend my thanks to our customers for their continued loyalty, and to our staff for their dedication. We have proven that we are not just a business; in many ways we are a gateway to Africa.
As we enter our 46th year in operation, we hope to go from strength to strength. We welcome any constructive feedback in our quest for excellence. I do sincerely wish everyone a prosperous year in 2016 of the Gregorian calendar and an equally prosperous one for Hijriya 1437. Alhamdulillah.
Chief Executive Officer