Hormuud Telecom and Get-Phone launch Somalia's first smartphone financing programme
Updated
Updated · Hiiraan Online · May 5
Hormuud Telecom and Get-Phone launch Somalia's first smartphone financing programme
4 articles · Updated · Hiiraan Online · May 5
Announced in Mogadishu, the scheme aims to distribute 10,000 devices by June and 100,000 by year-end, using Hormuud's EVC Plus mobile money platform.
Repayments are interest-free and Sharia-compliant over six to 12 months, with eligibility based on SIM-usage credit scoring and a family-guarantor model that delivered under 4% defaults in a pilot.
Officials said the programme could widen access to commerce, education and financial services in Somalia, where 4G reaches over 70% of people but nearly half of Hormuud's 4 million subscribers still use 2G phones.
Is Somalia's new phone plan a path to opportunity or a digital debt trap for the poor?
Can digital literacy training keep pace with 100,000 new smartphones to truly unlock Somalia’s economic potential?
As this program expands into autonomous regions, who will ultimately control the massive trove of citizen data being collected?
Affordable Smartphones and 4G Access for Low-Income Somalis: Hormuud’s Ambitious 2026 Financing Initiative
Overview
On May 6, 2026, Hormuud Telecom and Getphone launched Somalia's first smartphone financing program to tackle the high cost barrier faced by low-income citizens. The program offers a $19 upfront payment and daily repayments of $0.60, bundled with 1GB data and 40 voice minutes, using Sharia-compliant, interest-free financing integrated with Hormuud's EVC Plus mobile money platform. A successful pilot in Mogadishu showed a default rate below 4%, supporting targets to distribute 10,000 devices by June and 100,000 nationwide by year-end, including rural regions. Innovations like proprietary credit scoring and a family guarantor system promote inclusion, enabling economic growth, poverty reduction, and market competition while improving digital access for marginalized groups.