Mobile Money Ecosystem in Somalia

Saving and Borrowing

A quarter of Somalis claim to be saving money, and over a quarter claims to be borrowing. Among those who save, 52% uses a mobile money account, while 38% saves money in a bank, followed by 20% of those who still prefer saving money in cash. Of those who borrow, 57% prefer to borrow from family and friends, while only slightly less than a third borrows from a bank.

Saving money
Borrowing money
Borrowing and saving money
Methods for saving money
Methods for borrowing money