Mobile banking is creating a nascent financial system. The number of monthly mobile money transactions made in Somalia now exceeds that of Kenya, a regional pioneer in the sector.
Despite efforts to bring service providers within the oversight of the Central Bank of Somalia, risks include little regulation and limited revenue collected.
Overall economic growth is being driven by higher private consumption, and strong activity in the telecommunications and financial services sectors.
New Country Views
Relying on strategic location as debt mounts
What are the reasons behind the IMF's growth projection revisions for Oman and why is the Arabia Monitor view more optimistic?
What alternatives does the government have to ease fiscal pressure in the short and long term?
How is the sultanate balancing its regional and international alliances, especially with Iran and the US, through its strategic port of Duqm?
The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer
for more details.