Hormuud Telecom unveils its first mobile money app in Somalia

Waafi is considered as one of Somalia’s major telecom company’s mobile money applications that brings quick impact when it comes to ease access to manage mobile money and other related financial services all in one app.

The Waafi app combines mobile money, communication, entertainment, and payments where consumers can access bank accounts, perform online transactions, send international remittances and make international/domestic phone calls all from the app itself.

“We are continuing to see a move towards a position where Somalia can claim to be the world’s first truly cashless economy, and the rollout of Waafi is an important step on that journey”, said Hormuud CEO and chairman Ahmed Mohammed Yuusuf.

Furthermore, university student, Abdinur Ahmed Farah explained how dynamic and accessible the Waafi app is for his day-to-day activity.

“Waafi app gets you to access to use EVC Plus, the mobile money, deposit or withdraw money from Salaam Somali Bank without a SIM card in the mobile, short cut access to using the mobile money by assuring the sender or receiver’s information for confirmation”, said Farah.

“This year’s finding by Cable is above all a testament to the hard work and innovation of our telecom businesses and workers. It also shows that the sacrifices of so many people are yielding tangible results in terms of international competitiveness”, said the Ministry of Posts, Telecommunication and Technology.

In February 2021, the Central Bank of Somalia issued the first mobile money license to Hormuud Telecom, meaning that its mobile money platform EVC Plus is now formally regulated and licensed by the Central Bank.