Western Union Launch Money Transfer Service in Somaliland

[Gabbal]

Jacaylbaro;711643 wrote:

It is a free market and competition is necessary here .....

Magaalo joog xumaan maqli jiray. Supporting Somaliland secessionism doesn't mean every event is worthy of support. There is no true free market and if you believe that, may God have mercy on you. Free market is a term to take advantage of helpless and developing countries by rich countries who developed at their own pace.

 

If free market markets was really the case, the US wouldn't have farm subsidies while they force Liberia to open up its land to multinationals or nationalize the car manufacturing industry during the 2008 crash. It took one crash to put to test the system US advocated for decades and decades, and here you in a poor, underdeveloped society below that of even developing countries are regurgitating Western hypocritical mantra. Kula yaabi maayo, Soomaali baad u tahay.

[AfricaOwn]

nuune;711676 wrote:

Bad news indeed, a multinational greedy company in that undeveloped market which already is full of Money Transfer companies, I don't think this can be applied in the name of competition.

 

sending $100 dollar to Hrageisa will have a fee of $15 dollars, where as using Dahabshiil you ONLY pay $6 dollar, be the judge

If that math is correct then they'll stick to Dahabshil since their fee is cheaper . Consumers are not dumb, having options is always good for them.

[nuune]

Gabbal, easy nooh on the bro

[Jacaylbaro]

Gabbal still has the Socialism mentality oo la yaabi maayo ..... and we know why

 

It is an open market adeer ,, that is why we have the cheapest telecommunication companies in the world ... Dahabshiil wouldn't be that cheap if there are no other companies in the market ....... and this is one of them. Simply it is a western owned company doesn't mean they will dominate but that market is open for business to attract more investors.

[AfricaOwn]

Gabbal;711698 wrote:

Magaalo joog xumaan maqli jiray. Supporting Somaliland secessionism doesn't mean every event is worthy of support. There is no true free market and if you believe that, may God have mercy on you. Free market is a term to take advantage of helpless and developing countries by rich countries who developed at their own pace.

 

If free market markets was really the case, the US wouldn't have farm subsidies while they force Liberia to open up its land to multinationals or nationalize the car manufacturing industry during the 2008 crash. It took one crash to put to test the system US advocated for decades and decades, and here you in a poor, underdeveloped society below that of even developing countries are regurgitating Western hypocritical mantra. Kula yaabi maayo, Soomaali baad u tahay.

Its not that deep. Lets look at the needs of consumer (YOU) perspective:

 

If Western Union is paying taxes - Benefits SL

If Western Union is employing locals - Benefits SL

If Western Union and Dahabshil are competing for your business- Benefits the people of SL.

 

Simple as that

[Wiil Cusub]

It is not first time WU goes SL. Still they are trying any how they have small chance

[Wiil Cusub]

Online service bids to transform African money transfer

From Nima Elbagir, CNN

 

STORY HIGHLIGHTS

Ismail Ahmed is founder and chief executive of money transfer service WorldRemit

The business allows users to send money without visiting agents and banks

Ahmed says the system helps Africa move towards a cashless economy

[Som@li]

AfricaOwn;711717 wrote:

Its not that deep. Lets look at the needs of consumer (YOU) perspective:

 

If Western Union is paying taxes - Benefits SL

If Western Union is employing locals - Benefits SL

If Western Union and Dahabshil are competing for your business- Benefits the people of SL.

 

Simple as that

You don't get it mate, There is nothing called free market, everything has a catch! It was a way invented to help the BIG FISH in rich west countries eat the small fishes in third world countries. As I said, local companies need protection.

 

 

This is seriously bad news!

[AfricaOwn]

Som@li;712011 wrote:

You don't get it mate, There is nothing called free market, everything has a catch! It was a way invented to help the BIG FISH in rich west countries eat the small fishes in third world countries. As I said, local companies need protection.

 

 

This is seriously bad news!

How should the government protect the local companies?

 

If WU can come to SL and do business and do well, don't you think other organizations might follow?

 

And besides, Dahabshil has nothing to worry about. It will take a lot for WU to battle with them. Dahabshil brand is just too strong in SL, but you know with business.

[Som@li]

No company is save mate, many companies , even more popular , stronger than Dhahabshil has been killed by this sort of decisions., so you don't give free reign to foreign companies, who will take their profits overseas.

[N.O.R.F]

There needs to be a level of protection for Somali companies but it is up to them to advocate for this and knock on the govnt door and say so.

 

I like the way the Arabs have managed it.

[Jacpher]

nuune;711676 wrote:

sending $100 dollar to Hrageisa will have a fee of $15 dollars, where as using Dahabshiil you ONLY pay $6 dollar, be the judge

Nuune, your numbers are right only if the amount is small. All Somali xawaaladu including Dhiigshiil charge not by percentage or amount wired but by the boqol which I never understood. If you were to wire hal xaawo taako y0u'd pay 5, labo xaawo taako waa tomon, sadexna waa 15. Say shan boqol ama labo kun, waxaad ka hadleysaa boqol ama ka badan. For every boqol shanaa ku daree for the most part, unless aad heshid discount but still no less than 4 or 3 dollar for every boqol. Western Union will win the heart of people wiring 300 or more. If you wire 100, 500 or 5 kun, you will still pay the same fee, 15 dollars. Here's where western union takes advantage of the market and their quicker service is attractive. The receiving party doesn't have to wait the next day to collect their money. Usually it is minutes not even hours. But still Dhiigshiil and others still keep the market since majority of the people mostly send less than 300.

 

However, this is a big loss for all Somali xawaalado, not just Dahabshiil and the local business. If they smell success in the north, they'll bring it to every possible town. Since the country lacks strong government with effective regulatory policies, this market should remain monopoly to local Somali business who serve as the backbone of the local economy and people. No to big transcontinental companies.

[AfricaOwn]

Som@li: how should the government protect them? I would like to hear this, aside from preventing buy-outs anything else just doesn't make sense for an emerging market. SL gov should focus on how they can attract more and more foreign investors to SL.