Mogadishu, SONNA \u2014 The Prime Minister of the Federal Republic of Somalia, H.E. Hamza Abdi Barre, officially launched the Somali Payment Switch (SPS) payment system today, a major step in advancing the country\u2019s financial infrastructure.<\/p>\n
The Somali Payment Switch (SPS) is designed to enable secure mobile money transactions through Somali banks, promoting transparency and improving access to financial services across the country.<\/p>\n
Prime Minister Hamza highlighted the system\u2019s role in modernizing Somalia\u2019s payment processes, ensuring transparency in wage payments, and enhancing the security of economic services. \u201cFor our country to rebuild, we must support the private sector and investment,\u201d he said, emphasizing the government\u2019s commitment to protecting public finances and combating terrorist financing.<\/p>\n
He also stated, \u201cWe are preparing laws to safeguard people\u2019s finances, prevent terrorist funding, and implement government plans that are central to the security, economy, and development of Somali society.\u201d<\/p>\n
The SPS will play a vital role in improving financial inclusion, supporting investment in various sectors, and ensuring economic security for communities across Somalia. The Federal Government remains committed to fostering innovation and modernization in the financial sector to drive economic development.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mogadishu, SONNA \u2014 The Prime Minister of the Federal Republic of Somalia, H.E. Hamza Abdi Barre, officially launched the Somali Payment Switch (SPS) payment system today, a major step in advancing the country\u2019s financial infrastructure. The Somali Payment Switch (SPS) is designed to enable secure mobile money transactions through Somali banks, promoting transparency and improving […]<\/p>\n","protected":false},"author":132,"featured_media":434923,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-434922","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local"},"_links":{"self":[{"href":"https:\/\/sonna.so\/en\/wp-json\/wp\/v2\/posts\/434922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sonna.so\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sonna.so\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sonna.so\/en\/wp-json\/wp\/v2\/users\/132"}],"replies":[{"embeddable":true,"href":"https:\/\/sonna.so\/en\/wp-json\/wp\/v2\/comments?post=434922"}],"version-history":[{"count":1,"href":"https:\/\/sonna.so\/en\/wp-json\/wp\/v2\/posts\/434922\/revisions"}],"predecessor-version":[{"id":434924,"href":"https:\/\/sonna.so\/en\/wp-json\/wp\/v2\/posts\/434922\/revisions\/434924"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sonna.so\/en\/wp-json\/wp\/v2\/media\/434923"}],"wp:attachment":[{"href":"https:\/\/sonna.so\/en\/wp-json\/wp\/v2\/media?parent=434922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sonna.so\/en\/wp-json\/wp\/v2\/categories?post=434922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sonna.so\/en\/wp-json\/wp\/v2\/tags?post=434922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}