Hargeisa, -Another year of healthy growth, strong profitability and technological innovation was reflected during the annual shareholders’ meeting of Somaliland’s biggest publicly traded company; Telesom Group and its wholly owned subsidiary companies such as; Somaliland’s largest Telecommunications company; Telesom, Darasalam Bank, SOMGAS and Telesom Electric Company (TEC) .
Held on March 13 at Guled Hotel in Hargeisa, the holding company’s annual shareholders’ meeting was attended by hundreds of shareholders across the different regions of the country, members of Telesom Group’s executive board and the executive directors of the company’s subsidiaries.
During the meeting the shareholders and the executives discussed the company’s business achievements, strategies and future goals.
Presiding over the meeting, Telesom Group’s Chief Executive Officer Mr. Abdikarim Mohamed Eid gave the shareholders and overall status of the company during his speech at the meeting.
“Thanks to our almighty Allah for giving us the business success we have attained. The company plans this year to introduce new services which will help business people to track their business movements and also the company will introduce a new technological services which scheduled to be unveiled mid this year” Telesom Group CEO, Abdikarim Mohamed Eid said while speaking at the meeting.
“We always want to invest new fields which are new to the country such as; the cooking gas company; SOMGAS and Darasalam Bank which were new badly needed and new to the country” Abdikarim M. Eid added.
Explaining the new business fields that the company plans to invest this year, Telesom Group CEO, Abdikarim Mohamed Eid informed the shareholders that after two years of conducting technical feasibility study, the company will invest the establishment of Horn of Africa region’s biggest Gas storage Terminal in Berbera which will cover the energy needs of the country and whole Horn of Africa region as well.
Finally, Abdiakrim Mohmaed Eid urged shareholders to play an active role and to act as the company’s ambassadors in order to fulfill the company’s business goals.
Also speaking at the meeting, the manager of Telesom Group’s Telecommunication subsidiary, Mr. Essa Mohamoud Farah detailed the different services the company offers to its customers which are available in the country’s different regions and districts.
Mr. Essa also stressed the company’s technological advances, the expansion of the company’s network and the development of the public services.
Essa also noted that Telesom company implemented valuable services such as the company’s mobile money transfer platform known as ZAAD service which attracted the attention of the world.
“The company’s mobile money transfer service; ZAAD service brought fame and attention to the company for instance the world’s richest man Bill Gates praised Telesom company for implementing the mobile money transfer platform” Essa said.
In October 2014, Bill Gates praised Somaliland’s leading telecommunication Company Telesom for its mobile money banking and transfer service, ZAAD Service during his speech at SIBOS closing plenary in Boston, USA.
Similarly, on December last year Bill Gates advised Indian government and its monetary policy makers to follow Telesom’s footsteps in their efforts to implement the Financial Inclusion system in India.
Finally, Telesom Group’s Telecommunication subsidiary, Mr. Essa Mohamoud Farah pointed out that Telesom became the only company in the country which succeeded to implement internet access through out the country which in turn made possible the smooth running of the currently ongoing voter registration in the country.
Other speakers of the meeting include the managers of Telesom Group’s subsidiary companies such as Darasalam Bank manager Mr. Mohamed Ibrahim, the manager of cooking gas company SOMGAS Mr. Abdikarim Haji Muse, and the manager of Telesom Electric Company (TEC) Eng. Muse Ali Egge.
Notable shareholders also spoke at the event after the company executives concluded the presentation of their reports and financial statement.
Notable shareholders who spoke at the meeting include; Somaliland’s oldest elder, Haji Abdikarim Hussein better known as Haji Abdi Warabe, prominent businessman Adan Baradho, Suldan Ahmed Dahir, Farah Hadhigle as well as other public figure shareholders.
Telesom Group is Somaliland’s largest publicly traded company with more than 1500 shareholders in its list.
Telesom is the largest and the leading Telecom provider in Somaliland. It is owned by Somaliland shareholders and was founded in 2002. Telesom is also one of the biggest employers in the country. It provides a wide diverse of services including GSM, Internet, Zaad services (mobile money payments) electronic voucher, GPRS, 3Gs video conferencing system enabling thousands of business people to increase the profit’s and improve the competitiveness through Telesom’s high quality technological systems.