WorldRemit open office in Hargeisa & enables global mobile payments

[Suldaanka]

 

[Holac]

I've been using World Remit for a while to send money to Hargeisa.  It is really easy. Takes one second for the other person to receive the money and their fees are reasonable.

[maakhiri1]

how much tax they going to pay? snd what kind of monitoring in place? stop money laundering etc

anyway great service.

[Duufaan]

Poor Somalis business men will lose money and work. Foreigner investors will take the profit at least. Somalia needs investments but not this area. There were already so many Hawala. Why could not they invest solar and wind energy. Food productions and infrusture.

[YoniZ]

33 minutes ago, Duufaan said:

Poor Somalis business men will lose money and work. Foreigner investors will take the profit at least. Somalia needs investments but not this area. There were already so many Hawala. Why could not they invest solar and wind energy. Food productions and infrusture.

Why boder, when you can utilize tried and tested method called, Minimum effort Maximum gain.

Nomad businessmen are damn good at it!

[Suldaanka]

6 hours ago, Holac said:

I've been using World Remit for a while to send money to Hargeisa.  It is really easy. Takes one second for the other person to receive the money and their fees are reasonable.

Same here. It has made so much difference. No longer travel to the local Hawala and queue up when sending cash.

I now able to send cash to loved ones when I am on train, in the park playing football, or even from my desk at work. Convenience. 

As of now, you can do all that in Somaliland too. You can make your orders from China or Dubai  while you are enjoying the sea and beach or even while you are drinking fresh camel-milk in the country side or hiking up in the Gacan-Libax mountains. 

[Suldaanka]

6 hours ago, maakhiri1 said:

how much tax they going to pay? snd what kind of monitoring in place? stop money laundering etc

anyway great service.

Not too sure. I do not think there is any tax on money transfers. But I do think it should be. 

In the video, CEO Ahmed mentioned that the total money transfers that come to Somaliland is around 750 million a year. If there was a 5% tax, that could earn the gov't a whopping 35 million dollars. I think if this money is collected and used for community development, it is worth it.