Mogadishu(Mogadishu24)-Waafi, one of Somalia’s Major Telecom Company’s Hormuud Application brings quick impact, in terms of proving benefits in giving easy access to manage mobile money and other related banks through the system services throughout the country.

As the core values of the Hormuud is to listen to customers and respond their needs as quickly and it could, therefore, it developed Waafi App that combines mobile money, communication, entertainment and payments by means of to introduce developed technology based services supporting clients and customers on their routine activities.

Hormuud said it hopes that the app will be an enabler for new value chains and new business models in Somalia by eliminating inefficiencies, such as typing an incorrect number during a USSD transaction.

“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 roll out of WAAFI is an important step on that journey”, said Hormuud CEO and chairman Ahmed Mohammed Yuusuf.

WAAFI provides a fully integrated mobile money experience that upgrades from the existing USSD technology that many Somalis use. Currently, USSD-enabled mobile money technology is widespread in Somalia, with penetration rates as high as 80% in urban areas and 55% in rural areas.

University student, Abdinur Ahmed Farah explains how productive and easy way he uses Waafi App in day to day activity.

“  Waafi App gets you access to use Evc plus, the mobile money and, deposit or withdraw money from Salaam bank without having Simcard in the mobile, short cut access to using the mobile money by assuring the sender or receiver’s informtion for confirmation”, Mr. Farah said.

He described the Waafi App as effective and efficient that has come timely and would fill important gap of our community.

“The app enables you to ease money transactions, paying bills, identifying the sender or receiver and it is an e-wallet. I can say in we’re in the modern wolrd when it comes to technology. Thanks Hormuud”, Suban Hersi Ali, a shopkeeper in Wadajir district said.

Last year, the Somalia’s Telecom industry (Hormuud, a major service provider) made huge success by leading country to be the 7^th in the world and the first in Africa when it comes to mobile data price which cost 1GB was 0.50 according to UK based price comparison website  cable.co.uk  

According to the data collected from 238 nations worldwide by cable in its “ World Wide Mobile Data Pricing”, Somalia Telecom Companies offered the cheapest mobile data subscription rates in Africa and one of ten top in the world,  making a huge progress in the space of 12 months as the country was 134th worldwide and 37th on the continent.

Somalia’s Ministry of Posts, Telecommunication and Technology praised the latest in range of positive indicators, which highlighted the Somalia’s ICT environment was steadily improving, telling this would support the contribution of digital economy to our GDP as the number of internet-based services would increase.

“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,” the Ministry said in statement released on May 7, 2020

Hormuud introduced Electronic Voucher Card (Evc plus), mobile money, Deeq-toon, a service connecting mobile to the client’s account in the Salaam Somali Bank and established the bank itself, made real states and useful foundations that beneficiaries strongly reacted positively.