development

At the solemn gathering in Bartabwa, Baringo North Constituency, President William Ruto took a moment to reflect during the funeral of Baringo Senator William Cheptumo. The atmosphere was heavy with loss, yet there was an undercurrent of resolve as President Ruto spoke candidly about a vision for a more equitable Kenya. The President has repeatedly emphasized the importance of distributing development equitably across the entire nation. In his speech last Saturday, he underscored a sentiment that has been echoing…

On February 19, an atmosphere of determination enveloped the Trump administration as a new executive order brought seismic changes to several government agencies. The goal was clear: eradicate non-essential roles and pare down statutory duties to their skeletal form. President Trump envisioned a leaner government, indeed, one that would epitomize accountability to the American populace. Are we becoming more efficient, or are we merely slicing through the sinews that hold our institutions together?…

Mogadishu (AX) – In a move as monumental as it is symbolic, the Somali government has resolved a debt dispute with the Abu Dhabi Development Fund (ADFD) originating from the ill-fated Juba Sugar Factory project. This triumph sees $257 million etched off the slate, an encouraging milestone in Somalia's ambitious economic revival plan. Amid the opulence of Dubai and the stimulating atmosphere of the World Government Summit, a simple yet momentous act took place. Somalia’s Finance Minister, Bihi Iman Igeh, alongside ADFD’s…

Picture this: a sun-drenched morning in Somalia, a land of resplendent landscapes and cultural riches, where the air buzzes with a spirit of renewal and hope. Against this vibrant backdrop, a meeting unfolded that could very well shape the country’s future like the brushstrokes on a canvas. On Wednesday, Somali Prime Minister Hamza Abdi Barre sat down with Sultan Abdulrahman Al-Marshad, the dynamic Chief Executive of the Saudi Fund for Development (SFD). Their rendezvous was not just a gathering of formal belts and ties but…

Mogadishu (AX) — In a promising stride for Somalia, the nation has forged a significant partnership with Saudi Arabia to turbocharge development initiatives, courtesy of Saudi funding. This pact, inked at the heart of Mogadishu in the Ministry of Finance’s stately headquarters, saw Somalia’s Minister of Finance, Bihi Iman Egeh, and the Saudi Fund for Development’s helmsman, Sultan Abdulrahman Al-Marshad, sign on the dotted line with palpable enthusiasm. The significance of this occasion was underscored by Sultan Al-Marshad…

In a bold move towards sustainability, Somalia has officially thrown its hat into the Global Green Growth Institute (GGGI) ring. This step marks a significant chapter in the nation's quest to build a greener economy and shield its environment, gearing up to tackle and adapt to the challenges posed by climate change. According to Khadija Al Makhzoumi, the Minister of Environment for Somalia, the decision to unite with GGGI isn't just a small leap—it's a substantial stride in the right direction. As quoted by the Somali…

Let's dive into the latest from the Kenya Medical Research Institute, affectionately known as KEMRI, who is cooking up a storm with a fresh partnership. They're joining forces with Tonix Pharmaceuticals, an innovative biopharma outfit from across the pond in the U.S., to dish out a clinical trial for a brand-new mpox vaccine. Talk about global collaborations shaking things up! On a rather somber note, picture this: a beleaguered patient battling mpox is tended to in a hospital nestled on the periphery of Goma, North Kivu…

Alparslan Bayraktar, Türkiye's Energy Minister, shared his thoughts on the nation’s significant oil and gas exploration ventures in Somalia. He labeled the efforts as transformative and hinted that global corporations might want to jump on board with these ventures moving forward. Recently, the Turkish research vessel, Oruç Reis, made its way to Somalia. It's geared up to conduct in-depth seismic explorations to uncover potential reserves of oil and natural gas. During the vessel's reception at the bustling Port of…

Mogadishu (AX) – On Tuesday, the Somali government inked a landmark $68.5 million Development Assistance Grant Agreement with the United States. This move is a big leap forward in pushing socio-economic progress throughout the nation.In a solemn ceremony held in Mogadishu, the deal was signed by Somali Minister of Planning, Investment, and Economic Development, Mohamud Abdirahman Sheikh Farah (Beene-Beene), Finance Minister Bihi Iman Egeh, and USAID Somalia Mission Director Catie Lott.Focused on bolstering economic growth,…

BGS 2024 Forum: Unpacking Fintech's Role in Somalia's Economic Landscape MOGADISHU, Somalia - The annual Somalia’s Success Stories, organized by Hormuud, a leading telecommunications giant in the country, is all set to unfold on October 16, 2024, at the Sahal venue in Mogadishu. Next month, we'll witness the third edition of this influential forum. Previously, the BGS forum provided a deep dive into Somalia's economic fabric, shedding light on both the growth potentials and the formidable challenges facing the nation. It…