Somalia’s largest telecommunications provider, Hormuud Telecom, has announced the rollout of the country’s first indigenous mobile money application. According to a media statement, the Fintech app WAAFI gives Somalis access to a range of digital services across a singular platform for the first time. Consumers can access bank accounts, perform online transactions, send international remittances...
Somaliland-based Somtel has launched its initial public offering (IPO) and has set the price of its shares at USD100 per share. Somtel provides fixed and mobile telecoms services to private and business customers in Somalia and the autonomous regions of Somaliland and Puntland, while it also owns a stake in the 4,854km Djibouti Africa Regional...
The Central Bank of Somalia (CBS) has announced it has awarded the country’s first mobile money licence to Hormuud Telecom (HorTel). The licensing and regulation of mobile money service providers has been a key priority area for the CBS, as it seeks to ensure financial inclusion, consumer protection and financial stability. The move follows months of...
One of Somalia’s largest telecommunications providers, Hormuud Telecoms has announced that it’s aiming to reach 100% of the Somali population with mobile money financial services. Telecommunications have grown substantially in Somalia over the past 10 years. With over 11 different providers now present in the market, the average costs of 1GB bundles have fallen to...
The National Communications Authority (NCA) of Somalia announced, on February 17, 2020, the entry into force of the new telecom license regime. The new regulatory framework, guided by the National Communications Law of 2017, offers more flexible, simplified and technology and service neutral licenses. Consequently, investors who want to enter the Somali telecoms market will now...
Somalia’s Ministry of Posts, Telecommunications and Technology (MPTT) has announced that the National ICT Policy and Strategy has been approved by the Cabinet. The five-year policy provides the framework needed to leverage the benefits of ICT to support the social and economic development of the country. It outlines the development and enhancement of ICT across Somalia over the period 2019-2024 and...
Somalia’s telecom market has been sustained despite tremendous difficulties, reports Research & Markets. The country’s economy has made it difficult to sustain investment in infrastructure, and the Al Shabaab Islamic militant group has on occasion forced the closure of internet services in many areas of the country. Furthermore, there has been a lack of guidance...
Somalia wants to take a big step forward in the transformation of its telecommunications sector. The country that has no longer had an official telecom license regime since the cessation of activity of the public telecom company in 1991, would like to adopt the unified telecom license. But before finally adopting the Unified Licensing Framework (ULF),...
Somalia’s National Communications Authority (NCA) has launched a consultation process for the country’s first licensing regime for the ICT and telecoms sector. The draft Unified Licensing Framework (ULF) would allow the provision of multiple services through the introduction of service and technology-neutral licences that would promote innovation and competition. The move is aimed at bringing an end...
Abdi Ashur Hassan, Minister of Post, Telecommunications and Technology, announces the forthcoming construction of Somalia’s first Technology Innovation Center (SONICE). The infrastructure will contribute to the establishment of an innovative digital ecosystem in the country. The resulting ICT products and services will provide a significant boost to the advent of the national digital economy. The ICT Innovation...
