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Somali tech tycoon Ismail Ahmed, the founder of Zepz, formerly WorldRemit, has accused Premier Bank, a privately owned Somali bank, of playing a concealed role in the country’s new electronic visa system. The allegation heightens a sensitive dispute over immigration control, airspace authority, and financial transparency between Mogadishu and Somaliland.
Ahmed made the claims in a post on his official Facebook page, saying Premier Bank, the first in Somalia to issue MasterCard credit cards and partner with Visa, helped design the government’s mandatory e-Visa and eTAS platform. He also claimed the bank benefits from visa fees through Empire Tech Solutions, a company he linked to President Hassan Sheikh Mohamud’s family.
Ahmed proposes flight, transfer restrictions
The tech tycoon accused Premier Bank of misrepresenting e-visa transactions to international card networks, including Visa and Mastercard. He said he contacted the bank’s chairman, who confirmed the bank’s involvement in the e-visa project alongside a third party.
Premier Bank has denied the allegations, insisting it has no connection to the federal e-visa platform, no ties to Empire Tech Solutions, and operates solely under Somaliland’s financial regulations. The bank asserted that its digital payment services are exclusive to the region.
Ahmed framed the dispute within broader economic pressures. Somalia faces persistent U.S. dollar shortages and uneven mobile money adoption, leading to significant monthly transfers from Hargeisa to Mogadishu.
By contrast, Somaliland relies heavily on its mobile money platforms, Zaad and eDahab, thus stabilizing domestic currency needs. He called for measures including suspending direct flights between Hargeisa and Mogadishu, urging airlines to restore “Somaliland” on booking platforms, and limiting dollar transfers southward.
Federal officials have said the e-visa centralizes revenue collection and strengthens border oversight. Somaliland has countered that the system undermines its autonomy and complicates travel. The dispute has drawn international attention, with Germany advising its citizens to follow Somaliland’s entry rules rather than the federal e-visa.
Ahmed critiques De La Rue currency contract
Beyond business, Ahmed is well-known in the Horn of Africa for his charitable work and educational programs. He has promoted greater access to high-quality education through his Sahamiye Foundation.
In 2023, he challenged UK-based De La Rue over a $9.6 million contract to print Somaliland currency, arguing the plan to issue 380 billion Somali shillings ($668 million) would devalue the shilling and worsen economic conditions for low-income communities.
