“It Felt Like We Lost Everything Overnight” Somalia’s Poor Struggle as Worthless Shillings Flood the Streets
Many Somalis say their entire wealth collapsed overnight. Safes stacked full of money that buys nothing. Not long ago, a small amount of cash could cover basic needs like bread, rice, tea, or cooking oil. Workers spend long hours earning money that loses value almost immediately after they are paid. The country’s poorest citizens are suffering the most. Families that already lived day to day now find themselves trapped in a painful cycle where prices keep climbing while their income stays the same. Mothers skip meals so their children can eat. Small businesses struggle to restock products because suppliers demand higher prices & newer banknotes.
For many people, saving money has become impossible. The crisis did not happen because of one single problem. Somalia has spent years dealing with conflict, drought, unemployment, rising food costs, and economic instability. These issues weakened the Somali shilling over time plus circulation of old and unreliable banknotes. In some areas, counterfeit money and damaged bills have flooded local markets, making people less confident in the currency itself. As trust disappears, many businesses and traders turn to foreign currencies like the US dollar instead. This creates an even bigger problem for ordinary people who are paid only in shillings.
People with access to dollars, international business, or mobile money services can often protect themselves from the worst effects of inflation, but poor families living in villages, refugee camps, or crowded urban neighborhoods usually depend entirely on cash payments. That means every drop in the value of the shilling hits them immediately.
Many Somalis now say they feel trapped inside an economy where hard work no longer guarantees survival. Across Somali markets, uncertainty hangs in the air. Traders constantly change prices because they do not know what the currency will be worth tomorrow. Customers argue over costs that seem to rise every hour. Some businesses refuse certain notes entirely because they fear the money may soon become useless. The emotional damage is becoming just as serious as the financial crisis itself. Parents feel ashamed when they cannot provide for their children. Young people lose hope about building a future.
Despite the hardship, many Somali families continue pushing forward with incredible resilience. Communities help one another survive through food sharing, small loans, and local support networks. Farmers, traders, and workers continue waking up every morning determined to provide for their loved ones even as the economy grows more unstable, but without stronger financial systems, economic reform, and longterm stability, millions remain vulnerable to deeper poverty. For Somalia’s poorest citizens, the crisis is not just about money. It is about survival, dignity, and that everything they worked for could disappear overnight.
سبحانك اللهم وبحمدك أشهد ان لا اله الا انت استغفرك وأتوب اليك