Waafi

At Waafi, we want you to make the most of your time, simplifying your daily needs with our groundbreaking All-In-One lifestyle e-wallet app. Waafi is a global lifestyle e-wallet app, created with the idea to be more than a regular mobile payment app, we designed it to become your daily companion, at the tip of your fingers with 24/7 support and access to our services such as; Mobile Money, Communication, Entertainment and Payments.

Want to book a flight or pay your bills on the go? Making payments through the Waafi app is a few clicks away – as easy as one, two, three!

We want you to be part of our growing community, join Waafi today.

Our Mission

Our mission at Waafi is to provide everybody a secure and reliable cashless mobile payment platform with outstanding user experience that acts like a companion that simplifies your life.

Our Vision

To become the consumer’s first choice as a service that can withstand their daily online payment needs – a true companion. To make the Waafi brand a household name, synonymous with reliability, efficiency and security

Our Values

From the very start, we shaped our organization around the same values and culture Waafi was founded on. We believe, creating an environment for openness and cooperation for our employees within the company leads to more innovation and growth which in turn produces a better service for our customers

What You Require to Sign Up

1. The customer, when applying for WAAFI wallet registration, should submit the following documents/information to be registered:
   • Proof of identity (passport, driver’s license, national identity card)
   • Names
   • Mother’s Name
   • Nationality
   • Date of Birth
   • Telephone
   • Camera Photo
   • Proof of residential address
   • Email Address
2. As part of enhanced due diligence measures, prospective customers who are Non residents in Somalia but who wish to open Somalia based WAAFI accounts are subject to verification procedures similar to those for resident customers. However, they are required to meet/ present additional requirements/ documents:
3. Must proof he/she is Somali national regardless of second nationality
4. Proof of address -proof of invoice of Electricity, water/Tel or driver license

Corporate Governance

WAAFI recognizes that good corporate governance is essential to achieving and maintaining the confidence and trust of its stakeholders

The Board and Senior Management of WAAFI are responsible and have obligations to all our stakeholders, including shareholders, regulators, clients and suppliers, as well as to the environment and the communities where we operate

Senior Management is responsible for overseeing the day-to-day management of WAAFI

Compliance with all applicable legislation, regulations and standards is an essential characteristic of WAAFI’s culture. The Board monitors compliance with these by means of management reports.

The Board sets our strategic direction, approve policies, the internal control framework and the overall business strategy of WAAFI, and ensure implementation and monitoring compliance to achieve our strategic aspirations

The Boards oversee the establishment of independent and adequately resourced Audit and Risk & Compliance functions

BOD Committees

WAAFI has the following committee:

1. Audit Committee
2. Risk & Compliance Committee
3. Digital and Information Technology Committee

The committees support the Board in discharge of its functions

All members of the Committee are independent non-executive Directors

The Digital and Information Technology Committee, Audit Committee, Risk & Compliance Committee coordinate their activities and work together regularly to ensure the necessary exchange of information to capture and assess all relevant risks for the performance of their tasks

Audit Committee

Chief: Osman ijaz

The Audit Committee assists the Board in its oversight of management’s responsibilities to assure that there is an effective system of controls reasonably designed to safeguard the assets and income of the company, assure the integrity of WAAFI’s financial statements

The Audit Committee is responsible for overseeing the internal audit function

The Audit Committee monitor and review the effectiveness of WAAFI’s AML Compliance function

Risk & Compliance Committee

The Audit Committee assists the Board in its oversight of the effectiveness of WAAFI’s risk Management framework and reviewing compliance with policies and procedures, all applicable legislation, regulations and standards

Compliance officer: Mahdi Ogas

All members of the Committee are independent non-executive Directors

The Committee’s key responsibilities include:

• Approval of risk policy and strategy
• Approve the annual Compliance Monitoring Plan and Compliance Policy & Procedures
• Review WAAFI’s risk profile against its risk appetite and strategy
• Review the Risk Registers
• Advise the Board on the current risk exposures and future risk strategy

Digital and Information Technology Committee

Chief: Ahmed Ali Hussein

The Committee supports the Board in fulfilling its oversight responsibilities relating to WAAFI’s digital and Information technology environment. It assists the Board in its oversight of the end-to-end digital delivery of the WAAFI’s products and services

The Committee’s key responsibilities include:

• Approve and Review Digital and Information Technology policies and strategies
• Assists the Board in its oversight of IT strategy and policy
• Overseeing the overall Information and Cyber Security strategies
• Overseeing the effectiveness of WAAFI’s Business Continuity and IT Disaster Recovery Plans and Business Continuity
• Identifying and monitoring key risks arising from technology and digital areas and referring them to the Board Risk & Compliance Committee
• Overseeing strategies for WAAFI’s outsourcing and selection of third party and external technology suppliers and review the performance of and risks associated with them