Finance

MOGADISHU, Somalia — Somalia’s National Intelligence and Security Agency said Thursday its forces killed a senior al-Shabab operative who ran the militant group’s financial extortion network in the Banadir region, which includes the capital, Mogadishu. The operative, identified as Ahmed Dhubad Xidig, also known as “Sheikh Aadan Dheere,” was killed in a targeted raid by NISA’s elite Gaashaan special forces in the Daniga Baaloow area of Lower Shabelle on Jan. 27, the agency said in a statement. According to NISA, the operation…

Somalia hosts Horn of Africa finance ministers in Mogadishu, with energy trade at center of agenda MOGADISHU — Somali President Hassan Sheikh Mohamud on Wednesday closed the 27th Horn of Africa Initiative Forum of finance ministers, the first time the high-level regional meeting has been held in Mogadishu, in a session that put regional energy trade at the heart of economic integration efforts. Officials said convening the forum in the Somali capital signaled growing international confidence in Somalia’s security and…

MOGADISHU — Somalia’s National Intelligence and Security Agency said Tuesday it killed a senior al-Shabaab commander in an airstrike on the militant group’s network in Kuunyo Barrow, a town in the Lower Shabelle region. In a statement, the agency identified the target as Abdullahi Hassan Abdi Cosoble, known as “Abdullahi Wadaad,” describing him as al-Shabaab’s chief finance officer. NISA said the operation was conducted in coordination with Somalia’s international security partners. According to NISA, Wadaad oversaw…

Former Ghana Finance Minister Ken Ofori-Atta Detained in U.S. Amid Corruption Allegations U.S. immigration authorities have detained Ken Ofori-Atta, Ghana's former Finance Minister, who is currently wanted in his home country on corruption allegations. According to his legal team, the former official has been in the United States since January 2024 to receive treatment for prostate cancer. Ofori-Atta was declared a fugitive by Ghanaian authorities shortly before being formally charged in November 2025. In December,…

Climate finance training for Somali banks signals shift toward private-sector climate action in Mogadishu MOGADISHU — Somalia’s banking sector took its first coordinated step into climate finance on Sunday, as the National Climate Fund (NCF) and the Somali Bankers Association (SBA) convened the country’s inaugural training on how lenders can access, structure, and deploy climate capital. Held in Mogadishu, the workshop introduced senior banking professionals to the global climate finance architecture — the funds, rules and…

MOGADISHU, Somalia — Somalia’s push to unlock climate finance moved a step forward Sunday as the National Climate Fund (NCF), in partnership with the Somali Bankers Association (SBA), held the country’s first climate finance training for Somali banks in Mogadishu. The session introduced bank executives and risk, credit, and product teams to the global climate finance architecture — how major international climate funds operate and where opportunities exist for Somalia’s private sector. It also served as a peer forum for…

Hargeisa (AX) – In a surprising turn of events, Abdirahman Duale Bayle, who once held the position of Somali Finance Minister, alongside other notable political figures, has thrown his lot in with North Western State of Somalia’s opposition party, Waddani, with the November ballots just around the corner.Having distanced himself from his earlier campaign for a 'Greater Somalia,' Bayle made a homecoming to North Western State of Somalia after years in the federal quarters. "We’re jumping aboard this ship and teaming up with…

Emerging from its origins in the 1960s, Islamic finance has grabbed attention worldwide with its steadfast ethical guidelines. This unconventional financial system has resonated widely, even in the United States, bolstered by supportive conditions and political endorsement. Known for its financial wizardry and economic might, America has witnessed Islamic finance gain traction, drawing interest from both Muslim and non-Muslim circles alike. "Sukuk," often dubbed as Islamic bonds, stand out for their potential utility by…

Djibouti (AX) — The rumors about Djibouti's President Ismail Omar Guelleh being gravely ill are just that, rumors. Minister of Economy and Finance, Ilyas Moussa Dawaleh, swiftly shut down the gossip following the president's hospital visit on Saturday.Jumping on X (formerly Twitter), Dawaleh reassured the public by saying, "President Guelleh is in fine fettle. Yes, he’s got a bum right knee, but that's it." He didn't hold back, condemning the rumor mill, highlighting the absurdity of such fabrications."Sorry haters,…

A snapshot captures the Nairobi Expressway in Nairobi, Kenya, on May 8, 2022. REUTERS/Thomas Mukoya/File Photo Purchase Licensing Rights Kenya's auditor general has embarked on a thorough examination of the nation's debt, aiming to quantify what is owed to different creditors, Finance Minister John Mbadi revealed to Reuters on Monday. In the heart of East Africa, Kenya's debt is towering at 10.5 trillion shillings ($81.71 billion). The audit of these borrowings was a critical outcry from anti-tax hike demonstrators in…