financial

Aida Diarra, the bigwig behind Visa’s Sub-Saharan Africa division, couldn’t contain her excitement about the business tie-up. “Teaming up with UNDP Somalia lights us up as we aim to bring the digital age and financial services to every nook and cranny of the region. With our smarts in digital payments, we want to give Somali small business folks and underserved communities a real shot at economic strength and sustainable living," Diarra shared with palpable enthusiasm. Lionel Laurens, the go-to persona at UNDP Somalia, shed…

Somali Finance Minister Bihi Iman Egeh (center, right) spearheads a high-stakes dialogue at a major financial reform and economic development summit in Istanbul, Turkey. Key figures from Somali ministries and global partners are in attendance. Mogadishu (AX) — Wrapping up on Wednesday, a pivotal four-day conference focused on Somalia's financial overhaul and economic strides took place in Istanbul, Turkey. This gathering marked the second review of Somalia's Financial Reform and Economic Development Program, which enjoys…

Mogadishu (AX) — Somalia’s Auditor General Ahmed Issa Gutale has rallied substantial global support, particularly from Norway and leading audit institutions worldwide, to enhance the country's financial scrutiny. The 'Peer Support Project,' a collaborative initiative involving Somalia and global audit powerhouses like INTOSAI and AFROSAI-E, targets the enhancement of the country's financial oversight. Running through 2024, this project is geared towards solidifying governance through more robust audits and heightened…

Al-Shabaab Financiers Receive Sentences in Somalia MOGADISHU, Somalia - In a pivotal move against violent extremism, a Somali court handed down sentences to several sympathizers of Al-Shabaab after a prolonged trial. This legal victory marks a significant step in Somalia's ongoing battle to quell the terrorist insurgency that has plagued the nation for more than ten years. The Banadir Regional Court announced the sentences on Monday, convicting four individuals after substantial evidence demonstrated their involvement with…

The African Development Bank Group (AfDB) has greenlit a $6.6 million grant to assist Somalia’s Federal Government (FGS) in bolstering state capacity, aiming to construct a robust financial framework to foster inclusive and fair growth. The Somalia Financial Sector Development Project is set to hone the capabilities of financial entities, such as the Central Bank of Somalia, the Somalia Development and Reconstruction Bank, and the Financial Reporting Center (FRC). The project focuses on efficient credit delivery,…

According to a report, IS-Somalia manages to fund terrorist activities in multiple African nations. Omar Mahmood, a senior researcher with the International Crisis Group (ICG), remarked that IS-Somalia's influence extends beyond Somalia's borders to a greater extent than that of al-Shabab. "Al-Shabab is undeniably a larger menace," conveyed Mahmood. "However, IS-Somalia has endured significant challenges and established itself within the broader Islamic State network, particularly as a crucial financial hub among its…

In Madagascar, a number of leaders of the National Social Insurance Fund (CNAPS) are suspected of embezzlement. In a press launch printed on its web site, the Independent Anti-Corruption Office (Bianco) signifies that it has found a case of grand corruption…

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). .

In Gabon, in the hot spot for a few days after a scandal of embezzlement of public funds, the mayor of Libreville Eugène Mba has resigned. He would have returned his apron on June 1, according to an official decree published on Saturday. He is the second mayor to leave office in less than a year. as reported from Libreville,…

Brussels intends to supply new monetary assist towards an elevated effort by Tunis to stop unlawful departures within the Mediterranean. as reported from Tunis, Michel PicardBecause the starting of the yr, greater than 10,000 exile candidates have survived crosses the Mediterranean to succeed in Italy. However lots of died…