Finance

Tweah Accuses Vice President Koung of Conspiracy During Corruption Trial Former Finance Minister Samuel Tweah has accused Vice President Jeremiah Koung of orchestrating a plot to imprison him, alleging that such a move would clear a path for Koung’s own presidential ambitions. These serious accusations emerged as Tweah's corruption trial resumed, where he and several former officials face allegations regarding the misappropriation of $6.2 million funds. The funds at the heart of the case were reportedly designated for…

NAIROBI, Kenya — Kenya moved Wednesday to ease refinancing pressures, launching tender offers to buy back up to $500 million of outstanding Eurobonds and preparing a new dual-tranche dollar issue aimed at extending the country’s debt maturities. In a regulatory notice, the government said it would repurchase up to $350 million of its 8% bond due in 2032 and up to $150 million of its 7.25% bond maturing in 2028, amounts inclusive of accrued interest. The tender offer closes Feb. 25. To fund the buybacks, Kenya plans to issue…

Supreme Court Ruling Clears Path for Corruption Trial in Liberia The Supreme Court of Liberia has ruled that former Finance Minister Samuel Tweah and several other former officials are not shielded from prosecution by claims of national security. This landmark decision effectively removes a major legal obstacle that had temporarily stalled one of the country's most politically sensitive corruption trials. The case centers around the former officials' assertion that those serving on or alongside the National Security…

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…