Hormuud Telecom

Hormuud Telecom Somalia Inc. is a privately held telecommunications company based in Mogadishu, Somalia.

Hormuud Telecom Somalia
TypePrivate
IndustryTelecommunications
HeadquartersMogadishu, Somalia
Key people
Ahmed Mohamed Yusuf, CEO[1]
ProductsGSM
fixed line
Retail banking
mobile banking
Brands
  • EVC Plus
  • ADSL Plus
Number of employees
5,000+ (2016)[2]
Websitewww.hormuud.com

Stockholders

More than 17999 Somali investors have shares in Hormuud Telecom.[3]

Staff

Hormuud employs more than 20,000 full-time and part-time staff with different specialties.[4] Among these workers are telecommunication engineering, customer service, sales and marketing, and finance specialists.[3][5]

Around 45% of the firm's personnel are engineers.[3]

Hormud has no transport services. The company may rent bajajs to drivers who pay a third of their earnings.

EVC Plus

EVC Plus was first introduced in 2012, it is a unique option to transfer and receive mobile money; it operates like SMS. According to Ahmed Mohamed Yusuf, CEO, Hormuud Telecom, over 67% of Somalis, especially the most vulnerable communities, use mobile money technology as a sole payment system.[6] Hormuud customers can have as much as $300 in their account at any given time. This amount is considered little by many users but the company says the reason for the $300 limit is for security reason.[7]

NGOs or welfare organisations sending cash to Somalis in remote areas are exempted from the $300 limit, Hormuud Telecom has in the past allowed Non-Governmental Organisations (NGOs) responding to crisis like floods with free bulk cash transfer.[8]

Mobile Money is widely used in Somalia, data from the World Bank shows that mobile money transfer is crucial in Somali’s economic and infrastructure growth with 155 million transactions worth 2.7 billion dollars reported every month, majority of this transaction happens in EVC plus which dominate the mobile money market in Somalia.[9] In Somalia. 70.2% of mobile money users pay education fees on the platform. 56.4% disburse donations and charity, 28.3% shop online from the platform as 18.0% receive cash transfers from NGOs and another 16.7% paying government taxes from the platforms.[9]

EVC Plus allows users to purchase cellphone airtime for themselves or family members, pay water and electricity bills, and transfer money.

Products

4G Mobile Internet

Hormuud Telecom telecom provides the cheapest 4G mobile internet in Africa and in the Arab world.[10]

Tri-Band 3G

In December 2012, Hormuud launched its Tri-Band 3G service for mobile and internet clients. The first of its kind in the country, this 3G mobile telecommunications technology offers users a faster and more secure connection.[11]

Interconnection

In July 2014, Hormuud Telecom along with NationLink and Somtel signed an interconnection agreement. The cooperative deal will see the firms establish the Somali Telecommunication Company (STC), which will allow their mobile clients to communicate across all three networks.[12]

See also

References
  1. https://www.howwemadeitinafrica.com/meet-the-boss-ahmed-mohamed-yusuf-ceo-hormuud-telecom-somalia/64171/
  2. "Leading Telecommunication Providers in Somalia". Hormuud Telecom. Archived from the original on 2014-10-25.
  3. Nyambura-Mwaura, Helen (2013-11-13). "Somalia's Hormuud rings up telecom profits despite anarchy". U.S. Retrieved 2020-06-27.
  4. "Hormuud Telecom 'Creating jobs and improving lives'". Hiiraan Online. Retrieved 2020-06-27.
  5. "Hormuud Telecom Extends Microwave Backbone Through Addition of Harris Stratex Networks Technology". PR Newswire. Retrieved 23 October 2014.
  6. "Meet the Boss: Ahmed Mohamed Yusuf, CEO, Hormuud Telecom (Somalia)". How We Made It In Africa. 2020-03-02. Retrieved 2020-06-27.
  7. Mohamed, Hamza (2013-08-31). "Electronic transfers improve Somalia economy". Al Jazeera. Retrieved 2020-06-27.
  8. "Hormuud Telecom offers commission free transfers to NGOs responding to floods in Southern Somalia - Somalia". ReliefWeb. 2019-11-06. Retrieved 2020-06-27.
  9. Owuor, Victor Odundo (2018-10-12). "Somalia mobile money beats Kenya MPsea". Quartz Africa. Retrieved 2020-06-27.
  10. https://technddigital.com/what-does-1gb-of-mobile-data-cost-in-every-country/
  11. "Somalia gets 3G mobile service". Shabelle Media Network. 30 December 2012. Archived from the original on 8 January 2013. Retrieved 23 October 2014.
  12. "Hormuud, Somtel, Nationlink sign interconnection deal". TeleGeography. 23 July 2014. Retrieved 23 October 2014.
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