Browsing Tag

development

Somali Federal Government Ignites Development Initiatives in Northeastern State Despite Political Strains

Mogadishu (AX) - The federal government of Somalia has rekindled development efforts in Northeastern State of Somaliafollowing earlier political squabbles, which had thrown a wrench into various projects. Mohamud Abdirahman (Benebene), the Somali Minister of Planning and International Cooperation, mentioned on Monday that Northeastern State had previously put a brake on these initiatives but has now given the green light for their continuation. "We’re stoked about the revival of the Barwaaqo and Somalia Food System…

SSC Khatumo Chief Engages Chinese Diplomats in Mogadishu for Vital Development Aid Talks

Mogadishu (AX) - Abdikhadir Firdhiye, chief of SSC Khatumo, together with some of his ministers, huddled with Chen Wendi, acting Chinese Ambassador to Somalia, and other Chinese envoys in Mogadishu on Tuesday.The powwow zeroed in on how China could pitch in on development and humanitarian aid for SSC Khatumo regions.Firdhiye pointed out that China was the trailblazer in providing aid to SSC Khatumo's residents during the tough times brought on by the protracted brawl in Las Anod town.Chen Wendi, the acting Chinese…

South Korea Commits Billions in Financial Support to Drive Development in Tanzania and Ethiopia

Tanzania and Ethiopia announced they've inked deals with South Korea, snagging billions in loans, all while giving South Korea a green light to tap into Africa's juicy mineral veins and wide export avenues. This week, South Korea is playing host to at least 30 top dogs, including those from Tanzania and Ethiopia, at a big South Korea-Africa powwow. Tanzania laid out plans to cop $2.5 billion over five years from South Korea, thanks to sweet loan terms. Also, the East African nation signed a couple of pacts letting South…

Major Infrastructure Improvement: Somali Prime Minister Directing Vital Road Development Between Mogadishu and Jowhar Cities

Jowhar (AX) - Somali PM Hamsa Abdi Barre visited Bal’ad in Middle Shebelle to oversee progress on road reconstruction project linking Mogadishu and Jowhar, funded by Qatari government to boost transportation and economic growth in the region. Barre praised Qatari government, engineers, and workers for their efforts in constructing the road, stressing the importance of this infrastructure for Somalia's future. He stated, “The road will serve as a crucial link for businesses, easing movement of goods between Mogadishu and…

Enhancing Africa’s Development: A Fresh Approach to Financial Support

The African Development Bank Group has introduced a new Ten-Year Strategy 2024–2033 to enhance financing of Africa’s development agenda. The strategy aims to address pressing challenges and boost economic growth on the continent. During the launch of the strategy at the Bank Group’s Annual Meetings in Nairobi, President Akinwumi Adesina emphasized the importance of supporting African countries in the next decade. He highlighted the need to accelerate growth in the face of economic challenges. The impact of the COVID-19…

Revolutionizing Global Leadership: Redefining Financial Systems for Sustainable Economic Development in Africa

World leaders need to tackle the unfair financial system to drive sustainable growth in Africa. It is crucial to reform the global financial architecture to address crippling debt and climate threats in the continent. Developing nations, specifically in Africa, struggle with high interest rates and climate shocks, hindering their ability to invest in eco-friendly and climate-resistant development projects. This financial dilemma jeopardizes climate efforts and sustainable development targets. President William Ruto of Kenya…

AfCFTA: Catalyst for Empowering Inclusive Economic Development Across Africa

In Nairobi, African experts emphasized the crucial impact of fully implementing the African Continental Free Trade Area (AfCFTA) for promoting inclusive growth across the continent. This was discussed at the 59th Annual Meeting of the Board of Governors of the African Development Bank (AfDB) in Nairobi, Kenya. They highlighted how boosting continental trade would lessen Africa's reliance on traditional Western markets. Vincent Nmehielle, the AfDB Group's secretary general, expressed that by liberalizing trade throughout…

African Development Bank Provides $18 Million to Support Somalia’s Climate Change Resilience Efforts

In Nairobi, during the African Development Bank's yearly gathering, Somalia's Finance Minister, Bihi Iman Egeh, and the bank's Vice President, Dr. Beth Dunford, inked an agreement. Egeh stressed the significance of the funding, highlighting its crucial role in combatting the nation's frequent droughts. "We are thrilled to have secured $18 million from the African Development Bank. The overall budget for this initiative is $35 million. Somalia has already received over half of the funds, which will be utilized to address…

Egypt Vows Unwavering Commitment to Aid Somalia’s Development

CAIRO - Egypt has reaffirmed its unwavering backing for Somalia, highlighting a commitment to collaboration in various areas such as security, socioeconomic development, and more. Prime Minister Moustafa Madbouli assured Ambassador Elius Sheikh Omar Abu Bakr of Somalia that Cairo stands ready to support Somalia in achieving security and stability as a trusted ally in need of assistance. Ambassador Abu Bakr, in his farewell meeting in Egypt, expressed gratitude for the continuous support from Egyptian institutions. He…

Striking a Balance: Addressing Immediate Humanitarian Needs while Building Sustainable Human Capital in Somalia

Dr. Adam Aw Hirsi sheds light on Somalia's struggle to balance immediate humanitarian needs with long-term investments in human capital to achieve sustainable development. The intricate decision-making processes and resource allocation within Somalia's federal system, complicated by the aftermath of civil war and ongoing conflict with Al Shabaab, make this balancing act particularly challenging. The absence of a consensus on a constitution and allegations of corruption further impede progress towards sustainable development…

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