Looking back, moving forward: Hormuud Telecom CEO reflects on 2023 and the year ahead
In 2024, the African telecoms industry is poised for growth. In the seven years prior, internet adoption more than doubled in Sub Saharan Africa, illustrating the powerhouse that is telecoms sector in achieving development.
Today, if current projections hold, that figure is expected to reach 760 million people by 2028. Hormuud Telecom stands ready play our part in this and unlock opportunities for Somali communities.
In 2023, our telecoms sector achieved significant milestones. From regulatory reforms that saw the interconnection between six operators, to our own partnership with GSMA, which will boost the use of mobile-money enabled services for INGOs, so last mile communities not left behind.
Throughout the year, I was proud to see Hormuud Telecom stand as a leader, driving innovation and tackling important social issues.
Personally, I was honoured to received two international awards last year: CEO of the Year at the World Communications Awards and CXO of the Year at the Africa Tech Festival. This recognition has firmly placed Somalia’s telecommunications sector on the map and demonstrated how far private sector has come in the last two decades.
The Somali Success Story conference hosted in September last year similarly stood testament to this journey. Amongst government officials and some of the country’s most innovative agribusinesses, we discussed how digital technology can be used to harness opportunities post-EAC integration and enhance exports locally and globally.
For many Somalis, 2023 brought its challenges, including climate shocks and health crises. Our foundation remained a steadfast source of support. The Hormuud Salaam Foundation acted swiftly in response to devastating floods, donating $1 million through our humanitarian portal. The foundation’s initiatives also extended into healthcare, partnering with Italian experts to screen children for heart disease. Those children that need it will receive expert medical treatment in 2024, funded by the foundation.
Looking ahead, it is clear that telcos play a central role in fuelling growth in Somalia and across Africa. By introducing infrastructure and innovation needed to help businesses and communities thrive and develop sustainably. Hormuud will continue to lead. We’re excited to launch products and services in 2024 that will enhance day- to-day life for Somalis nationwide.
The future for Somalia is positive, with full debt relief and accession to the East African Community (EAC) unlocking economic potential. This sets the stage for infrastructure investment, private sector growth, and enhanced trade opportunities.
For the year ahead, our ambitions are clear: to lead the way towards greater digital inclusion and supercharge private sector growth, never losing sight of our commitment to supporting each and every Somali through our foundation.
