The Paris Club countries have announced the cancellation of debts owed by Somalia worth $1.4 billion.

On Saturday, telecom company, Somnet launched the first 4G network in Somalia’s capital, Mogadishu where “hundreds were seen making long queues at the Somnet headquarters to purchase the 4G simcard,” Dalsan Radio Mogadishu reports.

The Central Bank of Somalia has partnered with IT firm SOFGEN International Holdings to revive the country’s financial sector that has been in doldrums following political instability by setting up a new IT platform.