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Article: Remittance companies become the lifeblood of Somalia's economy; Remittances as 'lifeblood' for Somalia
- Article from:
- International Herald Tribune
- Article date:
- November 12, 2009
- Author:
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Matthew Saltmarsh
International Herald Tribune
11-12-2009
Remittance companies become the lifeblood of Somalia's economy; Remittances as 'lifeblood' for Somalia
Byline: Matthew Saltmarsh
Type: News
Amid Somalia's violent mix of warlords, pirates and religious extremists, a financial network of remittance companies has quietly expanded in the absence of a strong central government.
Amid Somalia's violent mix of warlords, pirates and religious extremists, a financial network of remittance companies has quietly expanded. The main purpose of these companies, as in other poor countries, is to ensure that money from emigrants reaches family members left behind.
But in Somalia, in the absence of ...