Always Moving Always Sharing Somaliland

As a comparison…
Somaliland
Myanmar
United States
RIPE MARKET
Limited/no prior electronic fund transfer
Cumbersome dual currency
Significant demand for movement of money within family and
across geography
“WILD WEST”
Limited Regulation from central governing bodies allows unhampered
growth from within. Tight relationships between
prominent telco and banking entities enable easy deployment
without the need for significant infrastructure investment.
Remittance economy = lack of regard for slight fees, lack of fear
of taxation/tracking of funds.
SOLID USER EXPERIENCE
Strong, thoughtful roll-out by Telesom/Zaad to create
awareness around the benefits of mobile money
Starting with bulk payers and aspirational vendors (e.g.
Ambassador Hotel)
Consistently implement user interface improvements over time
Rote learning possible for illiterate/low-literate
No fees
Extensive agent network (using existing Telesom outposts)
RIPE MARKET
Limited/no electronic funds management
Lack of access to banking in rural
communities (~70% of population)
HIGHLY REGULATED
Strong ministries and central bank
regulations, conflict between telco and
banking sectors prohibit growth from
within; unstable political standing limits
international interest.
POOR USER EXPERIENCE
The products that have been launched have
been cumbersome to use, exemplifying
some of the worst Studio D have seen in
terms of USSD interfaces. Cash in/out
networks and agents are variably available
in large urban locations only.
SATURATED MARKET
Sophisticated cashless systems have
persisted for decades, making it difficult
for a new players to enter the market.
Incremental benefits for consumers.
Square Cash and other similar P2P (feefree)
money-transfer apps are very
slowly gaining traction.
HIGHLY REGULATED
Decades of financial and
telecommunications regulation govern
practices.
GOOD USER EXPERIENCE
Best-in-class user interface design (ISIS,
Apple Pay to name modern examples)
have not overcome consumer
complacency around mobile payments.
B&MG - SOMALILAND MOBILE MONEY STUDIO D RADIODURANS
MAY 2015 19