Mobile Money Transfers Have Taken Off In Somalia. But There Are Risks

Transfers in Somalia are predominantly available in US dollars, which isn’t healthy for the country’s economy.

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Mobile Money - Two smartphones show the currencies of Africa. Between: A map of the continent in black with the inscription "Mobile Money". Background: red. (Photo Credit: www.shutterstock.com)

Mobile money transfers have taken off in Somalia. But there are risks

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About nine out of ten Somalis above the age of 16 own a phone. Omar Abdisalan/Amisom/Flickr
Victor Odundo Owuor, University of Colorado width=”1″ height=”1″ style=”border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important” />

Victor Odundo Owuor, Senior Research Associate-One Earth Future Foundation, University of Colorado

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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