Abdikarim A. Jama For three decades, remittances have functioned as Somalia’s informal central bank. In the absence of a deep domestic financial sector, money sent…
Posts published in “News”
By Ayan A. Diiriye ADDIS ABABA — As the 39th Ordinary Session of the African Union (AU) Assembly concludes in the Ethiopian capital, the atmosphere…
As the Somali capital undergoes a structural metamorphosis under the 2025–2029 National Transformation Plan, the vacuum in high-capacity bus transit offers a high-stakes entry point…
Global financing gaps, in the tune of trillions of dollars, signal that economies require more credit, not less; banks must be instruments of capital allocation…
In a groundbreaking development, the International Energy Agency (IEA) announced on Thursday that investment in clean energy is set to outpace spending on fossil fuels this year, marking a significant turning point in the global energy landscape. The IEA's World Energy Investment report revealed that annual investment in renewable energy has surged by nearly a quarter since 2021, compared to a 15% rise for fossil fuels. This shift is driven by the remarkable growth of solar projects, which are expected to surpass investments in oil production for the first time.
Somalia is reeling from the devastating impact of flash floods caused by heavy rainfall. These catastrophic floods have not only claimed the lives of 22 people but have also left the most vulnerable section of the population—the children—at increased risk of malnutrition and disease outbreaks. Save the Children, a prominent global charity has sounded the alarm on the dire situation unfolding in the country.
In the latest development concerning the fight against al-Shabab, the United States carried out an airstrike targeting the notorious militant group. The intended target was revealed to be none other than Moallim Osman, the head of al-Shabab's external operations. While reports suggest that he survived the attack, this event has significant implications for Somalia's ongoing struggle against terrorism.
The World Bank has made the decision to suspend funding for humanitarian and development projects in the Democratic Republic of Congo (DR Congo), valued at over $1 billion. The suspension comes in response to the sudden dissolution of the project fund by the Congolese government, catching the lender off guard. The move will have a significant impact on more than 600,000 beneficiaries, including victims of sexual violence, according to a letter sent by the World Bank to Congo's finance minister.
In a significant victory against terrorism, Somali security forces successfully intercepted and seized two military shipments containing explosives that belonged to the notorious al-Shabab militants at the bustling port of Mogadishu.
The Somali government has expelled two European Union employees accused of illegally taking photos of prisoners at a detention center.