Publications
BGS24 Conference Report
This report summarises the outcomes of the Bandhigga Guulaystayaasha Soomaaliyeed (BGS) Forum, held in Mogadishu on October 17, 2024. The forum, organised annually by Hormuud Telecom, examined the role of financial technology (fintech) as a catalyst for economic transformation in Somalia.
Comprehensive Overview of FinTech in Somalia
The financial technology (FinTech) sector in Somalia has emerged as a critical player in transforming the country’s financial landscape. With limited traditional banking infrastructure, particularly in rural areas, FinTech has stepped in to provide accessible financial services.
Economic Impact of Fintech Innovation in Somalia
The Somali Shilling is close to disappearing, and it is expected that Somalia will become completely cashless in the coming years. However, financial technology (Fintech) is stepping in to fill this gap, playing an increasingly significant role in daily transactions.
Regulatory Frameworks Sorrounding Somali Finteh
The rapid growth of Financial Technology (FinTech) globally has transformed financial services, driven innovation, and enhanced financial inclusion. However, this development also brings unique regulatory challenges, particularly in emerging markets like Somalia.
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