The Central Bank of Somaliland and AfricaNenda formally signed a Memorandum of Understanding (MoU) in Nairobi, aimed at enhancing access to financial services and promoting inclusive payment services for all segments of society.
The MoU was signed by the Governor of the Central Bank, Hon. Abdinasir Ahmed Hirsi, and the Chief Executive Officer of AfricaNenda, Dr. Robert Ochala.
The signing ceremony was attended by Somaliland’s Ambassador to Kenya, Ambassador Mohamed Ahmed Mohamoud.
This Memorandum of Understanding (MoU) between the Somaliland Central Bank and AfricaNenda marks a significant step and a strategic partnership aimed at advancing Somaliland’s financial system.
This collaboration will lead to:
The planning and development of the National Payment System Policy & Strategy.
Strengthening and enhancing payment services and the overall financial sector framework & Financial Sector Oversight).
Expanding access to financial services to reach the unbanked population (Financial Inclusion for the Unbanked).
Providing technical support and capacity building for Somaliland Bank staff on digital payments (Technical Support & Capacity Building on Digital Payments).
Ultimately, this agreement demonstrates the commitment of both the Somaliland Bank and AfricaNenda to the development of Somaliland’s financial system and that of Africa as a whole.
This step will enable the establishment of an efficient national payment system, promote financial stability in the country, and expand access to financial services for all citizens of Somaliland.