VOICED : Somalia abandons shillings for mobile money transfers

VOICED : Somalia abandons shillings for mobile money transfers

Assessment

Interactive Video

Other

10th Grade - University

Hard

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Somalia is at the forefront of mobile money usage, with about a third of adults using their phones for transactions. The Somali shilling's hyperinflation has led to a reliance on the US dollar, prompting innovation in mobile payment platforms like Zada. Despite warnings about inflation, Somalis continue to bypass traditional banking systems using mobile technology.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

Describe the impact of mobile money platforms like Zada on the Somali economy.

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What challenges do officials warn about regarding the reliance on the dollar in Somalia?

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