Finance

Mogadishu (AX) — In an unforeseen twist of events, Somalia's Ministry of Finance has decided to suspend the controversial health card fees that had left travelers bewildered and frustrated. Those fees, imposed on January 28, 2025, by the Ministry of Health, were meant to serve as a financial buffer for vaccinations and other health-related travel requisites. Yet, their introduction was anything but smooth. Chaos erupted as passengers found themselves unexpectedly asked for payments, with no prior announcement, leading to…

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…

Fintech InTouch was created in 2014 in Senegal and has become one of the pan-African leaders in the acceptance of payments and distribution of digital services. It offers a single payment platform that enables merchants and companies to accept all means of payment. Now present in ten countries on the African continent, it wants to support the boom in the digitalisation of services and democratize…

Several officials were detained Wednesday night, July 28, 2021, in Niamey, for their alleged involvement in a case of embezzlement of eight billion CFA francs (12 million euros) from the Treasury. This case comes after last year of undelivered military equipment and overbilling in the defense sector for an amount of CFF 32.6 billion (EUR 50 million). .

Nearly $ 2.4 billion, this is the amount announced by the South African government on Wednesday, July 28, 2021, to fund support measures following the Covid-19 pandemic and the losses caused by the recent riots. Support from South African authorities will go to companies and individuals, according to Finance Minister Tito…

In the Democratic Republic of Congo (DRC), the Observatory for Public Expenditure (ODEP), a Congolese non-governmental organization, is concerned about the lack of improvement in governance since the change of state. Félix Tshisekedi, succeeded Joseph Kabila, but the poor management of public finances "remains and deteriorates" in violation of the eradication of poverty and social development, says NGO.…

The Economic and Financial Brigade multiplies arrests and hearings. The former head of the agency is in custody. The matter was revealed on Wednesday, July 7, in the Council of Ministers. According to the government, it was suspicious procurement, various irregularly granted bonuses and fraudulent registrations of thousands of vehicles. The damages are estimated at more than 13 billion CFA francs.…