For the last twenty years, Hormuud has contributed significantly to Somalia’s growth and development. Following the civil war, our business established itself as a leading advocate and supporter within the community.
Hormuud: Leading Somalia’s digital evolution
Somalias’s first telecom operator
As the nation’s first telecom operator, we built vital infrastructure that pathed the way for enhanced connectivity. Where two decades ago, just 1% of the Somalian population had access to phones, today, nine out of ten Somalis own a mobile phone, and 70% of the population is connected to a telephone network.
In our mission to promote financial inclusion and drive economic empowerment, Hormuud attained Somalia’s first-ever mobile money licence through EVC Plus. Mobile money has since played a crucial role in the nation’s progress.
What began with 98% of counterfeit shillings and widely inaccessible banking systems 20 years ago; has been transformed into a nation with 70% of mobile money penetration. Now, only 6% of the population uses cash, and Hormuud continues to push the country towards being the second African country to achieve 100% financial inclusion. One day, I hope we will become Africa’s first cashless society.
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