Why haven’t the Somali remittances/xawaalo made an app ????

[Shushue]

Why haven’t they made an app to send money ?

Lots of people have smartphone, it’s easy and quick.

Dahabshiil can do this.

They can cut costs and make big profit.

Today you have to go and visit.

Worldremit has an app. Can send to Somaliland.

 

[Shushue]

Dahabshiil planning soon

Other remittances must follow

 

[government]

There already money sending technology in Somalia everyone uses sahal and zaad

 

[Shushue]

There already money sending technology in Somalia everyone uses sahal and zaad

You can’t access that from outside

 

[ColloquiallyFluent]

I can remember like it was yesterday, my mother and i used to pick up some cash from Dahabshiil once a month.

 

[Von]

I can remember like it was yesterday, my mother and i used to pick up some cash from Dahabshiil once a month.

Back when 100 usd would last easily a month but now......

 

[felloff]

Most middle class somalilanders use worldremit, dahabshill is living off the poor somalis in the diaspora and the elderly who use the hawalad stores are a social place to talk to fellow somalis. Dahabshill ain't gonna be prevalent in 10 years time.

He could of built a bank in the diaspora even a credit union and helped alot of people but he just milked somalis.

World remit would probably also see a decline in the sending of money to somalia, most young people in the diaspora havent even been somalia/land their no connections if you haven't seen your cousin or uncles their no connection so less of a reason to send money. People are just gonna focus on their kids in the diaspora. Only places where that'll be different is refugee and recent immigrant strongholds like london and Minneapolis and rinkeby but gentrification would probably stop that in 20 years or less.

Dahabshill is better of focusing on somalia and djibouti and nfd and somaliland, strart a bank and micro fiances and insurance for when these regions start to develop, he could probably become a Barclays in the horn. Money transfer should be part of banking not a separate entity.

 

[Kaleel]

Most middle class somalilanders use worldremit, dahabshill is living off the poor somalis in the diaspora and the elderly who use the hawalad stores are a social place to talk to fellow somalis. Dahabshill ain't gonna be prevalent in 10 years time.

He could of built a bank in the diaspora even a credit union and helped alot of people but he just milked somalis.

World remit would probably also see a decline in the sending of money to somalia, most young people in the diaspora havent even been somalia/land their no connections if you haven't seen your cousin or uncles their no connection so less of a reason to send money. People are just gonna focus on their kids in the diaspora. Only places where that'll be different is refugee and recent immigrant strongholds like london and Minneapolis and rinkeby but gentrification would probably stop that in 20 years or less.

Dahabshill is better of focusing on somalia and djibouti and nfd and somaliland, strart a bank and micro fiances and insurance for when these regions start to develop, he could probably become a Barclays in the horn. Money transfer should be part of banking not a separate entity.

Since 2014, Dahabshiil began losing ground to Zaad and slowly to the newer service called Taaj. When Zaad began, Dahabshiil was focused on a useless credit card instead of innovating. From what I have seen and been told London transfer agents are fleeing to those money mobile services in mass. Dahabshiil's plan appears to have been to set up a branch in every Somali diaspora community and little else.

 

[embarassing]

I thought most of them had apps. I know Premier Bank has one.

 

[felloff]

Since 2014, Dahabshiil began losing ground to Zaad and slowly to the newer service called Taaj. When Zaad began, Dahabshiil was focused on a useless credit card instead of innovating. From what I have seen and been told London transfer agents are fleeing to those money mobile services in mass. Dahabshiil's plan appears to have been to set up a branch in every Somali diaspora community and little else.

Dahabshill is old technology, they didn't invest in expanding the business. I believe his interests are somewhere else. Most stores in east and south are taaj since you can transfer straight to the phone.

Dahabshill is a blockbuster in a digital world

 

[felloff]

Somali banks need to have insurance i can tell their security is minimum, most online orders with your cards need a mobile one time password.

 

[DRACO]

@felloff maybe dahabshil is still alive because of the in person ID/security checks , western gov could be edgy about Somalis being able to send money online back home without proper security Checks.

Could that be the reason ?

Another reason could be Somali parents aren't that tech savvy and arent the first to take up the latest technologies .

 

[felloff]

@felloff maybe dahabshil is still alive because of the in person ID/security checks , western gov could be edgy about Somalis being able to send money online back home without proper security Checks.

Could that be the reason ?

Another reason could be Somali parents aren't that tech savvy and arent the first to take up the latest technologies .

dahabshill is too big to fail for the next 10 years min, his got his hands in many things from telecoms to loans, but remittance his losing, i've talked about Somali parents and elders using dahabshill hawalads as social interaction places and easier to use.

 

[Kaleel]

Dahabshill is old technology, they didn't invest in expanding the business. I believe his interests are somewhere else. Most stores in east and south are taaj since you can transfer straight to the phone.

Dahabshill is a blockbuster in a digital world

It's the same in the north & west. They have slowly been buying out Dahabshiil stores in locations with significant Somali populations. Dahabshiil still has the brand associated with money transfer but as you said his interests may lie elsewhere.

 

[felloff]

It's the same in the north & west. They have slowly been buying out Dahabshiil stores in locations with significant Somali populations. Dahabshiil still has the brand associated with money transfer but as you said his interests may lie elsewhere.

yh most stores are taaj now, dahabshill probably makes more money in somalia then in the uk

 

[Molotoff]

I will create an app and take a percentage on every transaction.

Make Bosnia even greater.

 

[felloff]

Somaliland Commerical Bank should develop a app, mobile money is the future

 

[yaanyuur]

I know how to make apps I was thinking about making a remittence app. I am afraid I will f*ck up with the security part lol. I can only create software not protect it like a white hat hacker would. Oh and please don't start me with all that government regulation bullshit. Finding lawyers and doing lots of paperwork. Waiting for like 6months to a year to be even allowed to operate. Plus I have to ID the customers. Too much headache. Smart decision is to stay out of it. Also need a lot of money to get it going.

 

[Aaegal]

I know how to make apps I was thinking about making a remittence app. I am afraid I will f*ck up with the security part lol. I can only create software not protect it like a white hat hacker would. Oh and please don't start me with all that government regulation bullshit. Finding lawyers and doing lots of paperwork. Waiting for like 6months to a year to be even allowed to operate. Plus I have to ID the customers. Too much headache. Smart decision is to stay out of it. Also need a lot of money to get it going.

Uff... I was thinking about getting into Fintech in Somalia and the rest of Africa. Not even sure what sort of headache await me...