Somalia's Hormuud Launches Mobile Money, Covering 90% of Population

en.Wedoany.com Reported - Somalia's largest telecom operator, Hormuud Telecom, is transforming from a traditional connectivity provider into a core pillar of the country's digital economy, financial system, and humanitarian response infrastructure.

Hormuud CEO Mohamed Aden Farah elaborated on this transformation in an interview with ITWeb Africa. He stated that when the company started two decades ago, Somalia's telecom infrastructure had to be rebuilt almost from scratch, which was not just a convenience but a pathway back to the economy. Hormuud helped build the backbone of Somalia's digital economy, with its 4G network now covering over 70% of the population.

Hormuud's development began with basic communications and then moved into financial infrastructure. In the absence of a formal banking system in Somalia, the company launched the mobile money platform EVC Plus. This platform has become the backbone of daily economic activity, with approximately 90% of the population using it for retail payments, salary settlements, and remittances.

Hormuud does not view mobile money as a standalone product but rather builds an ecosystem around the customer's entire lifecycle. This integrated model has also transformed humanitarian operations. Through Hormuud's humanitarian portal, NGOs can use EVC Plus to digitally distribute aid, enabling rapid delivery while keeping critical funds circulating within the local economy.

In promoting financial inclusion, Hormuud is introducing new types of loans by combining mobile money data, customer behavior, and device access. Device financing is a key case, turning smartphone ownership into an entry point for broader financial inclusion. Although the 4G network covers over 70% of the population, access to the digital economy remains uneven. Hormuud stated that nearly 50% of its device market still uses feature phones; for many, the barrier is no longer the cell tower but the phone in their pocket.

To bridge this gap, Hormuud partnered with Get-Phone to launch a program supporting low-income users. The program pairs devices with daily connectivity packages, converting a large one-time expense into manageable daily payments. The operator is also investing in local data centers to support domestic digital services, create jobs, and reduce reliance on external systems.

Hormuud prioritizes network resilience by deploying solar-powered infrastructure designed to withstand fuel shocks, climate stress, and emergency demand surges. Ultimately, the operator views robust connectivity as a driver of regional financial stability, directly linking the domestic economy with the Somali diaspora through secure remittance channels like EVC Plus and WAAFI.

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