Mogadishu (AX) — Somalia’s banking industry, worth a cool $2 billion, is gearing up for some serious expansion. This growth spurt is fueled by new rules and a rising wave of interest in fintech. But there's a hitch with bringing cryptocurrencies into the mix, as the sector grapples with syncing up international financial norms and Islamic banking values. While people are starting to buzz about cryptocurrency in Somalia, the chatter is still pretty nascent. Local banks are dipping their toes into figuring out how to weave…
Tensions Rise Between Somalia and Ethiopia; UN Calls for Peaceful Dialogue
Washington— During a pivotal week for Somalia's security blueprint, dialogues in Washington and New York highlighted the pressing necessity for readiness ahead of the African Union Support Mission in Somalia (AUSSOM). Rising friction between Somalia and Ethiopia over Ethiopia's maritime accord with North Western State of Somalia has stirred the pot, capturing the attention of global stakeholders. Somalia is on the verge of finalizing the lineup for the fresh AUSSOM, with the current African Union mission wrapping up…
Ukraine to Unveil ‘Plan for Victory’ at Ramstein Conference
On October 12, Ukraine plans to unveil its "victory roadmap" during a key allies' meeting at Ramstein, Germany, announced President Volodymyr Zelensky in a recent Telegram post. “We’re set to present a victory roadmap, outlining clear, tangible steps toward a just conclusion of the conflict,” he stated emphatically. Having stood firm against an invasion from Russia for nearly a thousand days, Ukraine has hinted at a strategic approach to quell the ongoing hostilities in recent months. While the finer points of this…
North Western State of Somalia Rejects Somali Government’s Election Remarks as Unfounded
FILE - North Western State of Somalia's Deputy Minister of Foreign Affairs, Ambassador Rhoda J. Elmi, makes her voice heard during a press briefing in Hargeisa. Mogadishu (AX) — The North Western State of Somalia administration has refuted recent declarations from Somalia, labeling them as "unfounded" and accusing them of trying to meddle in North Western State of Somalia's self-determination. These accusations followed remarks by Fiqi at the UN Security Council, where he aired concerns regarding the political climate in…
SSC Khaatumo Calls for Inclusion in Somalia’s National Consultative Council
In the capital city of Mogadishu, leaders from Somalia's federal and regional bodies gathered for the National Consultative Council (NCC) powwow. This session zeroed in on critical issues like security, governance, and the hustle and bustle of economic growth. Meanwhile, Hargeisa (AX) — The provisional authority of SSC Khaatumo stepped up on the podium, formally seeking a voice at the ongoing NCC meetings. They argued their corner, saying that as a legitimate federal entity under the Somali government, they’ve got a right…
Trump’s Visit to the Location of His Assassination Attempt
Donald Trump is gearing up for a return to the quaint town of Butler, Pennsylvania—a place that has taken on notoriety following a harrowing assassination attempt during a packed rally. This time around, the former president will be joined by JD Vance, his chosen partner for the upcoming November elections. Additionally, relatives of the victims from the July 13 attack will be present, along with first responders and tech magnate Elon Musk. Trump has expressed a strong desire to revisit the location where the tragic…
Turkey’s Oruc Reis Survey Vessel Scheduled to Depart for Somalia This Saturday
In the latter part of October, a ship is set to anchor near Somalia's shore to perform seismic surveys for potential oil and gas reserves!Casting off from Istanbul this Saturday, Türkiye's own research vessel, Oruc Reis, is prepped for a Somali voyage, with President Recep Tayyip Erdogan and Energy Minister Alparslan Bayraktar waving it off.The boat's on track to hit Somalia's waters before October fades. There, it'll hunt for oil and gas in three zones where Türkiye's bagged exploration rights, according to official chatter…
Somalia Confirms Ethiopia’s Omission from AUSSOM Mission Due to North Western State of Somalia Agreement
Mogadishu (AX) – On Saturday, Abdukhadir Mohamed Noor, Somalia’s Defense Minister, firmly stated that Ethiopian troops would not join the forthcoming African Union Support Mission in Somalia (AUSSOM) unless Ethiopia exits the Memorandum of Understanding (MoU) agreement with North Western State of Somalia.During a media briefing in Mogadishu, Minister Noor explained that Somalia is considering different contingencies to replace the Ethiopian forces if there's no withdrawal from the MoU.“Ethiopian troops won't participate in…
Somalia to Decide on AUSSOM Structure Before ATMIS Departure
Somalia Prepares for AUSSOM as ATMIS Heads for Departure MOGADISHU, Somalia - With keen anticipation, the United Nations and the U.S. look forward to the African Union Transition Mission in Somalia (ATMIS) evolving into the African Union Support and Stabilization Mission in Somalia (AUSSOM). They stress how crucial early groundwork is for a seamless transition. ATMIS is scheduled to transfer responsibilities to AUSSOM this upcoming January, and troops have begun their exit from Somalia. However, this shift occurs amid…
Jubaland’s Madobe Puts Somalia’s 1PV Election Schedule in Jeopardy
Mogadishu (AX) — Jubaland's big cheese, Ahmed Madobe, has turned his thumbs down on Somalia's federal scheme to roll out a straightforward one-person, one-vote setup. He’s concerned about election tardiness and the chance of officials sticking around longer than they should. During the ongoing National Consultative Council (NCC) huddle in Mogadishu, Madobe's dissent poses a real spanner in the works for the country's electoral makeover, stirring up doubts about timely implementation of the one-person, one-vote system."Back…
