Issue 2 - 15 July 2024

In line with our commitment to transparency and accountability, we are providing a voluntary disclosure of Tradenet's financial performance. This update aims to offer clarity and context regarding our financial situation and ongoing strategic initiatives.

Project Income for oneGov

Percentage of Workforce: 24% 

Tradenet receives project income for the oneGov project. This initiative aims to digitally transform government services through a comprehensive, unified digital solution. The initial contract scope was to digitalize, onboard, and offer the services of 8 government agencies. Currently, oneGov hosts 12 government agencies, offering 300+ government services, including 112 core services. These services are provided free of charge to the agencies and the public. Despite operating below cost, we continue to develop and maintain the system. We are actively working on adding more government agencies, including the Ministry of Defense and the Ministry of Islamic Affairs, without new hires.

ADB Grant for NSW Project

Percentage of Workforce: 5%

The Asian Development Bank (ADB) grant and capital contributions support the National Single Window (NSW) project. This project is in its pre-launch phase, with expected launches in August and December 2024. Currently, no revenue is generated from this project, but preparatory costs are incurred. Fees charged from this platform post Phase 1 launch will positively impact the company's financial position.

oneGov Support

Percentage of Workforce: 40%

Tradenet provides comprehensive customer service and support for citizens and businesses through the oneGov Support. This includes phone support through our call center, walk-in support at our centers in Malé, Addu, and Fuvahmulah, as well as digital support via live chats, social media interactions, and email communication. This support is offered free of charge for all partner agencies' listed services on oneGov. Our dedicated team ensures that all partner agencies receive the assistance they need to effectively offer customer support services to citizens and businesses through the oneGov platform.

Average Monthly Support Statistics of oneGov Support

Phone Support (Contact Center)

OneGov phone support is available through our dedicated hotline, 1500. Our contact center operates from Sunday to Thursday, 8:30 AM to 5:00 PM.

• Total Calls: 14,589

• Answered Calls: 9,492

• Callbacks: 2,954

Walk-in Support

Walk-in support is offered through our support centers located in Malé, Addu, and Fuvahmulah.

• Walk-ins: 713

Digital Support

OneGov digital support is accessible via live chat, social media interactions, and email communication.

• Chats: 4,937

• Social Media Interactions: 129

• Emails: 3,320

Functional Support

Percentage of Workforce: 14%

Tradenet’s functional support teams provide essential services to all other teams within the company. These cross-functional teams include Senior Management, People Operations and Procurement, Finance and Accounts, Business Development, Quality Assurance, Branding, IT Infrastructure, and Training. They play a critical role in ensuring that all departments operate efficiently and effectively, supporting the overall mission of Tradenet.

Staff Support to Government Offices

Percentage of Workforce: 16%

Approximately 16% of our workforce is seconded to government offices. These staff members remain on our payroll and play a crucial role in supporting government operations. This allocation reflects our commitment to providing essential support to government initiatives.

Strategic Investments for Future Revenue

Our strategic focus is on enhancing public service delivery and preparing for significant projects like NSW. These investments are expected to yield substantial benefits and revenue in the future, while transforming public service delivery to citizen and businesses. Achieving financial independence is a key priority in our strategic plan.

Commitment to Transparency and Efficiency

We are committed to financial transparency and operational efficiency. While our current financial allocations reflect necessary investments in infrastructure and human resources to support the government’s digitalization drive, we are confident these will contribute to Tradenet’s long-term success and sustainability.

In support of the government’s austerity measures, we have implemented several cost-reduction initiatives. For a detailed overview, please refer to "Tradenet's Corporate Update: Measures to Support Government's Austerity Measures."

As a SOE, Tradenet's primary focus remains on accelerating digital transformation and providing essential public services, exemplified by initiatives such as the oneGov project. Concurrently, we are dedicated to achieving financial independence and efficiency to reduce reliance on government funding. This balancing act involves managing costs effectively while fulfilling our public service mandate and preparing for future revenue-generating projects.