economic

How Digital Banking is Transforming Somalia's Economy MOGADISHU, Somalia - The digital tidal wave sweeping through banking is poised to reshape Somalia's economic landscape, which is currently on an upswing thanks to improved security in various locales. Somalia's National Digital ID initiative aims to revolutionize banking services, spurred on by a collaboration between the National Identification and Registration Authority (NIRA) and the Somali Bankers Association (SBA). Abdiwali Tima'adde, the top honcho at NIRA, believes…

ANKARA (AX) — Somali Ambassador to Turkey, Fathudin Ospite, joined a gathering of East African envoys in Ankara on Friday. They convened to explore ways to boost economic and trade connections between Turkey and the East African region.Somalia, which recently became a member of the East African regional bloc, was officially welcomed into the fold during this meeting.The ambassadors emphasized the need to intensify their bonds with Turkey, especially focusing on trade and economic cooperation.In recent years, Turkey has been…

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…

The research falls into two segments: "The Cost of Inaction: Impacts of WFP Assistance Shortfalls on Food Security Outcomes in Somalia" and "The Cost of Inaction: Impacts of WFP Refugee Assistance Shortfalls on Food Security Outcomes in Uganda." In 2021, the United Nations World Food Program (WFP) reached 34.4 million folks in East Africa through initiatives like providing school meals and specialized food for at-risk groups. Fast forward a year, and East Africa saw the number of food-insecure people balloon to 82 million.…

‘The development in Mogadishu is promising – but we just want to be part of it.’ MOGADISHU - The city is undergoing a massive construction boom that's reshaping its skyline. However, while investors pour their funds into new apartment complexes and shopping hubs, the wealth gap is also widening dramatically. This is a harsh reality for the hundreds of thousands displaced by war and drought, struggling to eke out an existence. After clan-based violence tore apart the coastal city in the '90s, Mogadishu hit a developmental…

Press Photo On Sunday, Badr Abdelatty, Egypt's Foreign Affairs, Immigration, and Egyptian Expats Minister, got together with Sheikh Abdullah Bin Zayed Al Nahyan, his Emirati counterpart, in Abu Dhabi. This gathering also included UAE's State Minister for African Affairs, Sheikh Shakhbout Bin Nahyan, along with Ambassador Lana Nassiba, the Special Envoy to the EU, and Sherif Eissa, the Egyptian Ambassador. Abdelatty praised the blossoming relationship between Egypt and the UAE, pointing out how various fields…

Kenya Seeks Public Input for Economic Reform Legislation Post-Protests A sweeping view captures Nairobi's bustling central business district on February 18, 2022. REUTERS/Thomas Mukoya Purchase Licensing Rights In a bid to rejuvenate its economy, Kenya's finance ministry is calling upon the citizens for their insights on new laws aimed at increasing revenue and addressing various challenges. Finance Minister John Mbadi made this announcement on Monday, following a wave of protests that compelled the government to retract…

The Chadian contingent deployed in the three border zones (Mali, Niger, Burkina Faso) by 1,200 men has halved. The reason given by the Chadian authorities is a strategic reassignment to make the G5 Sahel force more operational in the theater for operations against terrorism. Does this withdrawal leave a void on the ground? Not…

In Uganda, the 42-day containment in mid-June ordered to fight the new wave of Covid-19 cases that ended on Saturday, July 31. Transportation, including motorcycle taxis, is allowed again and shopping malls can reopen. The curfew will be maintained at 7 pm and the schools will remain closed for the time being, but for Kampala residents, the resumption of operations is a real relief.…

With less than 6,000 cases of Covid-19 registered for 195 deaths, Niger is one of the least affected countries from a health point of view, but its economy is one of the most affected. And the impact of the pandemic has exacerbated the existence of uncertainty in production and exacerbated the number of Nigerians who end up in very great insecurity.…