Virtually no money has no value in Somaliland

Banal scene in Somaliland. A few dozen kilometers from the capital Hargeisa, the bus driver leaves his vehicle out of age snore on the low side time a policeman boarded. At the front of the vehicle, a man yells to the passenger ticket price and a series of numbers. The weapon official sits down and takes from his pocket a device of the early ages of the mobile phone. Some tapotis and it is set. Note paid. No species was exchanged. Welcome to Somaliland, where modernity rubs deprivation.

Self-proclaimed independent republic that no state wants to recognize, the country has only two banks. Recently, it has a worthless currency and presents rate illiteracies records. But its 3.5 million residents can pay their bills and daily expenses via SMS. “All the world is a ZAAD account if Ayanle enthusiasm, young employee of a local NGO, referring to the service set up in Telesom 2009, one of the two telephone operators in the country. With ZAAD is very convenient, I can pay everywhere. All traders have an account. It avoids filling his pockets notes. ”

With an exchange rate of 8,000 Somaliland shillings to the dollar, even deep pockets are not enough to simple purchases. To date, nearly a third of the population would have opened a phone payment account, directly inspired by what is happening in Kenya. It was necessary a little creativity to compensate for the lack of a banking system worthy of the name. And avoid some sweats.

SomalilandInformer