Somalia’s largest private employer and leading telecommunications operator, Hormuud Telecoms, has announced that the numberof month-on-month mobile money transactions on its platform EVC Plus increased between the months of April – August, despite the onset of the COVID-19 pandemic in Somalia.  

Cashless technology isn't a completely fresh concept. People have been using credit cards for decades, and the market for fintech services has been growing steadily. That being said, the current health crisis has underscored the need for economies to go cashless as a way to restrict the spread of the coronavirus.