Baidoa(Mogadishu24)-Premier Bank, a leading financial institution in East and the Horn of Africa, has opened its branch in Baidoa, the administrative capital of the Southwest State of Somalia.

In a press release dated October 26th, the Bank reiterated its commitment to the development of the region and enhancing financial services at the doorstep of communities living in Baidoa.

“Premier Bank proudly announces the official opening of its new headquarters in Baidoa city, South West Somalia State Government. This strategic move solidifies Premier Bank’s commitment to the development of the region and enhancing financial services for the local community,” read the statement.

The statement added, “Customers in Baidoa and the surrounding areas will now have access to a comprehensive suite of modern banking services, including Premier Mastercard, digital wallets, diverse account options, online banking, and tailored business financing solutions.”

These banking services aim to uplift the living standards of the communities, promote business growth, and empower both small-scale and large-scale enterprises.

Mohamed Gedi Jimale, the Bank’s Deputy Chairman, emphasized the bank’s dedication to the South West Region and the vital role it will play in improving the progress of the region.

“We have historically connected our nation to the world, and today, we begin the journey of connecting the South West to the global stage, offering banking services that will catalyze progress across all sectors of society,” said Mr. Gedi, Premier Bank’s Deputy Chairman.

Speaking at the opening ceremony, H.E. Mohamed Nur Mohamed Moalim, First Deputy Parliament Speaker for the Southwest State, lauded Premier Bank’s contributions to regional development and the improvement of banking services.

“This is a significant step toward self-sufficiency and ensuring that all the services our people need are available locally. A few years ago, the idea that a student in Baidoa could open a Mastercard account and access global markets was unthinkable,” said Hon. Mohamed Nur, the Deputy Speaker of the Southwest State Parliament.

The Bank’s management highlighted the importance of this move in ensuring transparency and inclusivity, as well as financial freedom to the community, while eliminating the need to travel for banking services or disrupt vital business activities.

This new branch in Baidoa becomes the third headquarters of the Bank, following successful establishments in Mogadishu, Hargeisa, and Kenya. The Bank has shown great commitment in serving the East and Horn of Africa regions, providing financial services in line with international standards.

The Bank had earlier implemented a swift system for sending and receiving money both within and outside the country. This swift service is exclusive to Premier Bank and offers cost-effective services.

Premier Bank has officially started its operations in Kenya in June 2023 after taking over the ownership of First Community Bank, which was previously responsible for the SWIFT service for the inflow and outflow of money to and from Somalia.