StartupsTechCabalabout 3 hours ago
👨🏿🚀TechCabal Daily, Somalia's accidental bank
11 min read
Somalia operates without a central bank, yet mobile money service Hormuud processes millions in daily transactions. The telecom company became the country's de facto financial system after civil war destroyed formal banking. Over 70% of Somali adults now use mobile money for savings, loans, and cross-border payments.
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