Industry Telecommunications Number of employees +5,000 (2014) | Key people Abdinasir Fagas (CEO) Website www.hormuud.com Type of business Private | |
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Products GSMfixed lineRetail bankingmobile banking Profiles | ||
Hormuud Telecom Somalia Inc. is a privately held telecommunications company based in Mogadishu, Somalia.
Contents
History
Hormuud Telecom was established in April 2002. The company is based in Mogadishu, the national capital situated in the south-central Banaadir province. It is led by Abdinasir Fagas, who serves as the company's CEO.
In the 2010s, Hormuud launched a special ZAAD service for money transfers. CIA threatened to shut down the service in 2010 on the grounds that it was a simple way to channel funding to the former Transitional Federal Government (TFG).
As of 2014, Hormuud has 2 million subscribes, making it one of the largest telecommunication operators in Somalia. Its main rivals are NationLink Telecom and Telecom Somalia. Smaller competing operators include Telenet International and Somafone.
Stockholders
More than 5,000 Somali investors have shares in Hormuud Telecom.
Staff
Hormuud employs more than 5,000 full-time and part-time staff with different specialties. Among these workers are telecommunication engineering, customer service, sales and marketing, and finance specialists.
Around 45% of the firm's personnel are engineers.
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.
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.