World Bank evaluates Somalia’s vibrant mobile money market
Titled ‘Rapid Growth in Mobile Money: Stability or Vulnerability?’, the update assesses Somalia’s vibrant mobile money market and provides recommendations on introducing mobile money regulation that can boost a secure system for widespread financial inclusion.
The report aims to provide a comprehensive analysis of economic data, trends and outlook and sets out a series of recommendations to stimulate reform, growth and improved fiscal performance.
This report comes after the country faced its worst drought in decades. Somalia’s economy grew by an estimated 2.3% in 2017, down from 4.4% in 2016, reflecting the impact of enormous losses seen in livestock and crop production and exports.
Photo courtesy of AMISOM Public Information.