Hormuud bolsters mobile money platform with bank partnerships

The mobile money market matured as transaction value grew by 14% to US$1.4 trillion and total global registered accounts reached 1.75 billion in 2023, an increase of 12% year-on-year.

Globe Telecom CEO Ernest Cu said the operator group’s fintech division may go public as the company looks to diversify its business away from traditional telco revenue drivers.