economic

Somalia’s growth is hitting an avoidable ceiling: the price and reliability of electricity. The country’s telecom sector—quietly swapping diesel generators for sunlight—offers a clear, local blueprint for how to lower costs, cut emissions and power a modern economy. If energy is the missing link, renewables are the bridge.

Somalia faces a growth squeeze as international aid ebb slows recovery Somalia’s recent economic gains now face a stark test: a sharp drop in development assistance from major donors that, according to the country’s finance minister, has reduced projected growth from roughly 4% in 2024 to nearly 1% in 2025. That slowdown is not simply a statistical wobble. It is a signal that Somalia’s fragile, donor-dependent development model is colliding with new global priorities and domestic limits to revenue generation. From aid-led…

Somalia’s new e‑visa system ignites a storm over money, power and trust The row over Somalia’s newly launched electronic visa system has moved beyond bureaucratic bickering into a full‑blown political and financial controversy, exposing fault lines in a country long divided over sovereignty, economic control and how the diaspora — Somalia’s lifeline — is treated. Accusations, denials and a Facebook post that set it off The controversy began in a blunt Facebook post by Axmed Ismaaciil, the general manager of WorldRemit’s…

Zimbabwe’s crocodile industry inches forward, raises questions about jobs, conservation and value What sounds at first like an exotic sideline to traditional agriculture is quietly becoming a fixture of Zimbabwe’s export economy. Over the past two years crocodile skin exports have inched up from US$32 million to US$34 million, Deputy Minister of Lands, Agriculture and Fisheries Davis Marapira told reporters — a modest rise that nonetheless signals a sector pushing for a larger role in foreign exchange earnings and rural…

The Unseen Struggles Behind Nigeria's Economic Reforms In a nation known for its vibrant culture, rich resources, and entrepreneurial spirit, a staggering 139 million Nigerians are entangled in the grip of poverty, according to the World Bank. This alarming figure continues to haunt the country, even as optimistic economic reforms signal a potential turning point. From bustling markets in Lagos to sprawling villages in Kano, the contrast between policy advancements and the lived experiences of ordinary citizens raises…

The Hemorrhage: Africa's Battle Against Illicit Financial Flows As the sun rises over the sprawling cities of Africa, it casts a light on an urgent issue plaguing the continent: illicit financial flows. While Africa is rich in resources and potential, it is estimated to lose a staggering U.S.$88 billion each year due to tax evasion, money laundering, and corruption. This figure, a steep jump from U.S.$50 billion just eight years ago, paints a bleak picture of a continent struggling against forces that siphon away its…

Strengthening Bonds: UAE and Somalia Forge Deeper Ties Amid Regional Shifts In a move resonating with diplomatic significance, Somali President Hassan Sheikh Mohamud welcomed Sheikh Shakhboot Nahyan Al Nahyan, the UAE's Minister of State for Foreign Affairs, to Mogadishu. The high-level meeting unfolded against the backdrop of shifting regional dynamics, underscoring the evolving socio-political landscape of the Horn of Africa. Deepening Diplomatic Relations The discussions took place at the heart of Somali leadership—the…

The Gold Coin Dilemma: Zimbabwe’s Currency Crisis Continues to Unfold In a bid to stabilize its struggling economy, the Reserve Bank of Zimbabwe made a bold announcement in April 2023: gold coins were to be reintroduced into the market. This move was intended as a countermeasure to the increasingly erratic global gold prices that were wreaking havoc on local currency values. Yet, as the months unfolded, the temporarily revived enthusiasm for these coins proved to be a fleeting beacon of hope against long-standing financial…

The Political Earthquake of Botswana: Reflections on Change and Continuity In a dramatic twist that has sent shockwaves across Southern Africa, Botswana’s long-standing political landscape has been irrevocably altered. The recent election saw the fall of former President Mokgweetsi Masisi, marking a seminal moment in a nation long identified with stability and prudent governance. To understand the implications of this political upheaval, one must look beyond the ballot results and the immediate aftermath. The defeat was…

Today, an intriguing diplomatic exchange unfolded as Ethiopia's State Minister of Foreign Affairs, Ambassador Mesganu Arga, sat down for a chat with Vincent D. Spera, the U.S. Deputy Assistant Secretary of State for East Africa, Sudan, and South Sudan. From the onset, Ambassador Mesganu didn't mince words. He drove home the point that Ethiopia and the U.S. need to crank up their relationship, especially where peace and security are concerned. For Mesganu, the magic word is "economic." He passionately delved into Ethiopia’s…