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Sydney, Jan. 21, 2022 (GLOBE NEWSWIRE) -- Just released, this edition of BuddeComm report outlines the latest developments and key trends in the telecoms markets. -
These have mainly been in response to the government, having been newly elected in 2017, being determined to promote ICTs and to bring the country into line with international developments.
This has been manifested in several ways, including the adoption of a National Telecoms Law, the creation of a regulator to oversee the sector, and the introduction of a licensing regime under which all operators must secure one of three types of operating licence. If policed effectively, this should end the free-for-all of former years wherein it was relatively easy for companies to set themselves up and offer services.
These efforts towards inclusion have also benefitted the country's m-money providers. For many years, these services were unregulated and thus did not have the restrictions commonly applied by banks. In addition, the poor currency conversion rate made it easy for locals to make transactions which would otherwise involve large amounts of currency. The Central Bank of Somalia (CBS) awarded a country's first m-money licence (to Hormuud Telecom) in February 2021, though such services had already been available for about a decade. The licensing regime has formalised transactions, and made it possible to integrate m-payments with the country's own financial system and with international systems. The majority of adult Somalis use m-money services regularly.
Key developments:
- Somtel launches LTE-A services;
- DARE 1 cable serving East Africa comes into operation;
- Deadline for telcos to secure licenses to operate is passed;
- Government sets up an IXP in Mogadishu;
- Liquid Telecom builds the country's first fibre broadband link;
- SEACOM cable lands in Somalia;
- Three mobile operators agree to interconnect their networks;
- Report includes Telecom Maturity Index charts and analyses, assessment of the global impact of Covid-19 on the telecoms sector, recent market developments.
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Companies mentioned in this report:
Dalkom, Golis Telecom, Hormuud Telecom, Nationlink, Netco, Somafone, Somtel, Telcom Somalia, Telesom, Thuraya.
Read the full report:
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