Wednesday, October 17, 2018

Somaliland's world-leading move towards a cashless culture

- Abdul Rashid has sold sweet Somali tea on the muddy streets of Hargeisa for decades. As night falls in the capital of breakaway Somaliland and worshipers flood out of the mosque, a handful congregate around his rickety table. While he pours from a flask into paper cups, buyers type a string of numbers into mobile phones, take their tea and go on their way. A cup of Mr Rashid’s tea costs 2,000 Somaliland shillings – equivalent to $0.25 or Dh0.92 – and his customers pay almost exclusively with their mobile phones. “I never see cash,” he tells The National

Mr Rashid is not alone. Across Somaliland – which declared independence from Somalia in 1991 but is yet to gain recognition from the international community – people are turning away from cash and embracing mobile money. This makes the region, with its tiny livestock-dependent economy, a candidate for the world’s first cashless society.
Read more; 

No comments:

Post a Comment