We are thrilled to announce that Maal Microfinance in Somalia has taken a landmark step by becoming the first Microfinance Institution (MFI) to adopt Musoni Starter, Musoni’s newest and most affordable core banking solution for startups and growing MFIs. The platform delivers modern, scalable, and cost-effective technology, providing robust functionality without the complexity or cost of enterprise systems.
MAAL MFI has long been at the forefront of addressing critical gaps in Somalia’s financial sector. By focusing on micro, small, and medium enterprises (MSMEs), informal businesses, and women entrepreneurs, Maal works to reduce poverty and enhance financial literacy through tailored, accessible, and ethical financial services that drive inclusive growth.
Maal Microfinance’s Operations Officer, Ismail Siyad said, “Musoni Starter fits perfectly with our growth plans. It gives us the tools to scale efficiently, operate more transparently, and serve our clients better. With Musoni’s support, we’re building a stronger, more inclusive financial future for Somalia.”
Built on Musoni’s decade of experience in microfinance digitalisation, Musoni Starter empowers MFIs to streamline operations, accelerate loan processing, strengthen compliance, and deliver digital-first, Sharia-compliant services. For Maal, this means reaching more clients, supporting women entrepreneurs, and providing ethical financial solutions that create measurable impact in their communities.
The partnership between Maal Microfinance and Musoni represents a significant milestone in Somalia’s journey toward a technology-driven, resilient microfinance ecosystem. As client expectations, regulatory standards, and investor requirements evolve, MFIs that embrace digital transformation will be better equipped to expand outreach, optimise operations, and remain competitive.
Joyce Kabuga, Musoni’s Head of Implementation, said “Supporting Maal Microfinance through their onboarding has shown us the immense potential of Somalia’s microfinance sector. Musoni Starter gives their team the flexibility and simplicity to scale efficiently while maintaining compliance. We’re proud to be part of this journey.”
Musoni Starter provides the digital foundation MFIs need to meet today’s challenges automated workflows, enhanced reporting, mobile-first delivery, and full Sharia-compliant capabilities. Ready to transform your microfinance operations? Discover how Musoni Starter can help your institution scale efficiently, serve clients digitally, and drive inclusive growth. Sign up for a free trial today.