Somalia’s digital economy could receive a significant boost if mobile money services become easier to use across different telecom networks and banking platforms, according to a recent industry assessment.

In a report published on October 5, 2026, ITWeb Africa quoted Abdifatah Hassan Keynaan, chief executive of SomLink Telecom, highlighting gaps in the interoperability of Somalia’s mobile money systems.

Although Somalia has made progress in connecting telecom networks, financial services remain divided between separate digital ecosystems. This can make it difficult for customers to move money between wallets operated by different providers.

Greater interoperability could make digital payments more convenient for consumers and businesses. Merchants could potentially accept payments from more customers, while online businesses could reach a wider market without being limited to users of a particular mobile money platform.

The issue is particularly important in Somalia, where mobile money plays a major role in everyday transactions. More connected payment systems could also support digital commerce and help organisations deliver cash assistance more efficiently.

Somalia has already taken steps towards modernising its payment infrastructure. The Central Bank of Somalia launched the Somalia Instant Payment System in January 2025, designed to enable real-time transfers between banks, mobile wallets and other payment channels.

However, broader interoperability will require cooperation between telecom operators, financial institutions and regulators. Industry representatives have called for clearer rules, workable interconnection costs and shared technical standards.

The next challenge is turning existing infrastructure and agreements into services that work smoothly across providers. Progress could expand the usefulness of mobile money and help Somalia build a more connected digital economy.