West Africa

Mogadishu (AX) – A Step Toward Political Harmony In a significant political development, former Somali President Mohamed Abdullahi Farmaajo has voiced his support for a recent meeting between current President Hassan Sheikh Mohamud and the Somali Salvation Forum. This gathering, held in Mogadishu, has been described by Farmaajo as a pivotal move toward reconciling pressing political differences that have long clouded the nation's future. In a press statement issued on Thursday, Farmaajo emphasized the importance of this…

In a significant move poised to reshape Nigeria's financial landscape, Bola Tinubu has recently ratified four pivotal pieces of legislation aimed at overhauling the country’s tax framework. These reforms are not mere bureaucratic adjustments; they are fundamental shifts intended to streamline revenue collection processes, alleviate the tax burden on select individuals and enterprises, and ultimately boost fiscal resources for government initiatives. The quartet of bills, comprising the Nigeria Tax Bill, the Nigerian Tax…

Strengthening Maritime Ties: Turkey and Somalia’s Emerging Partnership Ankara (AX) — In a significant development for international relations, Turkish President Recep Tayyip Erdogan welcomed Somalia’s Minister of Ports and Marine Transport, Abdulkadir Mohamed Nur, this past Thursday in Ankara. According to reliable Turkish diplomatic sources, this closed-door meeting has sparked interest, although the details remain somewhat elusive. Why are such meetings important? They signify not just political alliances, but also a…

In the ever-evolving landscape of global finance, certain currencies can often surprise us—sometimes for the better, sometimes for the worse. Over the past year, we’ve witnessed a notable decline in the value of several currencies, particularly the Egyptian pound and the Nigerian naira. This downturn can be attributed to various factors, including policy missteps, rampant inflation, and an over-reliance on imports. What’s striking is how these economic forces coalesce, often leaving citizens grappling with the real…

Mogadishu (AX) — In a significant move toward enhancing public safety, Somali police have arrested 17 individuals, including both military personnel and civilians, for violating security directives during the recent 65th Independence Week celebrations in Mogadishu on Wednesday evening. The Banaadir Regional Police reported that the arrests occurred across various districts in the capital. Those detained were found to have discharged live ammunition, an act that is explicitly prohibited during national holidays due to…

Insights from the Latest OPEC Report: Navigating the Changing Landscape of Oil Prices The latest report from the Organization of the Petroleum Exporting Countries (OPEC) unveiled some intriguing insights into the dynamics of global oil markets. In May, the OPEC Reference Basket (ORB) saw a notable decline, falling by $5.36—or 7.8%—to settle at $63.62 per barrel. The fluctuation in oil prices invariably affects economies and consumers alike, leaving one to ponder: what does this mean for the average individual and the…

Exploring New Frontiers: Sierra Leone's Offshore Seismic Survey Sierra Leone stands at a crucial juncture, embarking on its first offshore 3D seismic survey in almost a decade. The aim? To uncover the vast potential nestled beneath the waves of its offshore oil basin. This six-week survey is not just a technical endeavor; it signifies a pivotal step towards demystifying the oil-rich subsea landscape that many experts believe holds great promise. Conducted in collaboration with the esteemed energy consulting…

Between June 1st and June 20th, a comprehensive survey was conducted in key regions—Accra, Kumasi, and Tamale—that revealed insightful perspectives on consumer sentiments regarding prices. A striking 73% of respondents believe that the costs of imported goods, including electronics, automobile parts, building materials, and fuel, should experience significant reductions in the forthcoming months. This sentiment, although overwhelmingly positive, does bring with it a layer of complexity. Interestingly, nearly one…

Growing Tensions Between Northeastern State and Jubbaland: A Call for Collaboration Garowe (AX) – On a significant Thursday, the leaders of Northeastern State and Jubbaland stepped into the political arena, taking firm stances against what they perceive as the federal government’s alarming trend toward centralizing power. In a joint statement released from Garowe, Northeastern State President Said Abdullahi Deni and Jubbaland President Ahmed Mohamed Islam (Madobe) voiced their concerns, urging for direct, constructive…

African Trade: A Resilience Story After a challenging year in 2023, the winds are changing for trade among African nations. As we step into 2024, intra-African trade has surged impressively by 12.4%, reaching an eye-catching figure of $220.3 billion. This rebound encapsulates not just numbers; it conveys a spirit of resilience that echoes the diverse experiences across the continent. However, how did we emerge from the shadows of a 5.9% drop the previous year?…