MyBank, Mastercard, and Network International Help Drive Financial Inclusion in Somalia

MyBank, Mastercard, and Network International have announced the launch of a new debit card in Somalia to aid financial inclusion in the country.

MyBank, Mastercard, and Network International are launching a new Mastercard Debit Card in their effort to drive financial inclusivity and help expand the digital economy in Somalia.

This card is expected to help the customers access seamless digital transactions thereby driving better financial inclusion in Somalia.

“As Mastercard, this is the first of many as we are enabling digital inclusion in Somalia. Through this collaboration, we are advancing the banking sector in this market, increasing digital payments and building choice in a strong digital economy that can help unlock financial inclusion. Many countries across the Sub-Saharan region are successfully adapting to e-commerce services and QR solutions, simplifying transactions and making the payment process more efficient for all stakeholders. As a leader in the payments technology industry, we are proud to partner with MyBank to grow connections, improve digitization and enhance the digital payments landscape in Somali.”  

Mr. Shehryar Ali, Country Manager for East Africa, Mastercard

 “We’re proud to be taking this important step towards providing safe and efficient access to financial services to people and businesses in Somalia. Partnering with Mastercard, and Network International which brings considerable expertise in the global payments technology space, confidently positions us to be able to do so.”

 Mr. Abdulrazak M. Ahmed, CEO, MyBank Limited 

“Network International is delighted to lend its expertise to an initiative which will bring significant change to Somalia’s economy in the long-term. Through partnerships like this, we continue to deliver on our commitment to further financial inclusion and enhance digital payment acceptance in emerging markets, especially in the critical SME sector. Network’s on-ground experience in supporting the banking sector in Africa and empowering small businesses to adapt to the digital economy will play a key role in the continued success of this milestone collaboration.”

Hany Fekry, Regional President, Northern and Sub-Saharan Africa, Network International

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