The CEO of Somali telecom leader Hormuud Telecom, Ahmed Mohamud Yuusuf, has cause for celebration: his firm is the first, and more importantly, the only, one to have earned a mobile banking licence, for the EVC Plus service. The decision, made late last month by Central Bank of Somalia (CBS) governor Ahmed Mohamud Yuusuf, enhances Hormuud's dominance of the telecoms sector. Present in the country since 2011, EVC Plus claims three million customers and a 50-60% share of the market in Somalia. In addition to Hormuud, which operates in central and southern Somalia, three other telecom companies offer mobile banking services in the country: Golis operates in Puntland, Nation Link in south-central Somalia, and Somtel in Puntland and south-central Somalia. None have yet been granted a licence by the CBS.
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