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Thursday, May 30, 2024


    Somtel Somalia company’s offer of its annual shares improved wide public investment and ownership

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    On February 18, 2024, Somtel Somalia, a leading telecommunication company announced its shares offering 2024 for the fourth time since the inception of the process in 2018.

    The share offering ceremony held at Hotel Mubarak in Mogadishu city was intended to initiating and maintaining an opportunity for investors to purchase shares through the company as it has gained the capacity to grow and expanded in Somalia and beyond the Horn of Africa, as well as initiatingmore income generating jobs.

    The minimum stake that can be contributed is 20 shares each valued at $ 150 which is equal to $ 3,000, while, the maximum share that can be contributed is 10,000 shares equal to $ 1,500,000 and the contribution is offered to everyone without limitations.

    Somtel Somalia company, which was founded by Dahabshiil Group, a leading telecom and internet and digital services provider in Somalia and beyond the Horn of Africa region has a long track record of providing high quality and reliable telecommunication services by investing in excellent communication infrastructure and using the capabilities of the Somali people. 

    The Somtel Somalia company is professionally managed by a diverse dedicated high caliber team. The company offers a comprehensive range of mobile voice, broadband internet, international roaming, landline, DSL bundles, and mobile data services to its customers, as well as enterprise solutions to corporate and public sector customers. 

    The annual shares offer launch event for 2024 in Mogadishu was attended by Senior Managers of Dahabshil Group, SomtelSomalia and the company’s shareholders and other invited guests from the business and educational community.

    The Somtel Somalia company has hosted share ceremony for the shareholders, and has indicated to be expanding the offer this year for all Somali community participation, although the time and the price for registration is limited.  

    Ahmed Isse Haji, the Deputy Manager of Somtel Somalia has initially explained the benefit of announcing the shares of Somtel Somalia.

    When looked at their accounts, the initial people contributing shares to this company has been observed to have profited more than one hundred percent in short period” Ahmed Isse Haji,Somtel Somalia Deputy Manager pointed out.

    Mohamed Osman Ali, Manager of Somtel Somalia Shareholders pointed out the modern services Somtel Somalia is offering locally and overseas has resulted to increased customers connecting with the Somtel Somalia company.

    The Somtel Somalia SIMCARD carries many services, with the SIMCARD you can access the internet, bank account,mobile voice, and with the Dahab Plus you can manage your account from everywhere locally and abroad.” Mohamed Osman Ali, Manager of Somtel Somalia shareholders explained.

    Adan Haji Yusuf, Somtel Somalia General Manager has officially announced that the Somtel Somalia shares for 2024 are open to the public.

    “The share contribution is open for all the Somali community everywhere, and previous shareholders are also allowed to make second share contribution, however, the time and the share amount is limited, so there is need to speed up before it’s filled up.” Adan Haji Yusuf, Somtel Somalia General Manager stated.  

    He mentioned that the staff managing the share and receiving the share payment are prepared and adding that Somtel Somalia will report to all the share shareholders the benefits they have received through their accounts and phones.

    Somtel Somalia is the only telecommunication company offering data roaming without going out of the network.”   Adan Haji Yusuf, Somtel Somalia General Manager explained.  

    Adan Haji Yusuf, Somtel Somalia Somalia General Manager has officially announced that the Somtel Somalia shares for 2024 are open to the public at a ceremony held in Baidoa city, South West State, February 27, 2024

    Abdullahi Hamud, Deputy Chairman of Al Jazeera University, speaking on behalf of the education community and Hassan Mohamed Abdulle speaking on behalf of the business community welcomed the Somtel Somalia company’s opening of shares for 2024. They have mentioned they are confident and grateful to Somtel Somalia company saying that they are taking part in the development of Somtel Somalia company which is trusted.

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    In conclusion, Haji Nuuh Dualle , Somtel Somalia Board member has stated that its very good that Somtel Somalia Somalia shares are reopened saying that Somtel Somalia is one of the best telecommunication company finding valuable solution to the previous problems and difficulties experienced in telephone and internet access.

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    Furthermore, from February to March 2024, Somtel Somalia has similarly organized and held launching events in Baidoa city, South West State, Beledweyne city , Hirshabelle State and Kismayo city , Jubbaland State to make added value in offering new opportunities for opening its annual shares of 2024 at those areas respectively for the public investors through stock issuance.

    It’s quite obvious that Somtel Somalia opening shares has already attracted great interest from the Somali regions where similar share offers have already been offered and the network enjoys wide visible coverage.

     This share offer has improved Somtel Somalia position as a regional player placing it a step ahead of its telecommunication competitors.

    By: Mohamud Abdi Mohamud (Fat)

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