fund

“This agreement is fundamental to re-engagement with the fund and reinforces Somalia’s reform agenda,” Finance Minister Bihi Iman Egeh articulated with a notable blend of optimism and resolve. He portrayed the agreement as a "critical milestone" pivotal to Somalia’s broader debt relief efforts. On a forthright note, he elaborated that this deal aligns seamlessly with the government’s long-term aspirations for sustainable development and economic propulsion. Reflect for a moment: How does a nation rebuild after…

In a significant move to invigorate local economies, the South African government has initiated applications for the R500-million Spaza Shop Support Fund (SSSF). This initiative aims to enhance the sustainability and growth of spaza shops—those familiar neighborhood convenience stores that serve as lifelines for township and rural communities. During a recent announcement, Minister of Trade, Industry and Competition, Parks Tau, highlighted the transformative potential of this fund. “We are committed to empowering our…

Milwaukee's Classroom to New York's Stage: A Journey Worth the Challenge The magnetic draw of New York City, with dreams of Broadway shows and Times Square's endless energy, was more than tempting for a college student from Milwaukee, Wisconsin. Yet, she had her sights set on an entirely different "big show." What was more important than sightseeing? Impressing the top brass of a $23 billion asset management firm, Balyasny. Accompanied by two fellow Marquette University students, she was about to compete in the…

Mogadishu (AX) – In a move as monumental as it is symbolic, the Somali government has resolved a debt dispute with the Abu Dhabi Development Fund (ADFD) originating from the ill-fated Juba Sugar Factory project. This triumph sees $257 million etched off the slate, an encouraging milestone in Somalia's ambitious economic revival plan. Amid the opulence of Dubai and the stimulating atmosphere of the World Government Summit, a simple yet momentous act took place. Somalia’s Finance Minister, Bihi Iman Igeh, alongside ADFD’s…

Under the shimmering sun of Mandera East, an initiative, one deeply rooted in compassion and foresight, flickered to life just last Tuesday. A relief for many, the National Government Constituencies Development Fund (NG-CDF) unveiled a Sh50 million bursary, targeting students whose dreams have been tainted by financial constraints. Imagine the dreams rekindled by such generosity. Not just numbers on paper, but every shilling symbolizes a step, a leap, toward a future filled with possibilities. Our gathering took place at…

Mogadishu (AX) – Change is afoot in Somalia's livestock sector, and it's not just the grass that's greener. On a bright Thursday morning, the Somali government teamed up with the World Bank under the HoA DRIVE Project to unveil the $10 million Livestock Value Chain Fund (LVCF). This initiative is set to steer the livestock industry onto a lucrative path of transformation. Against the backdrop of the elegant Jazeera Palace in Mogadishu, Gargaara Company Limited hosted this momentous signing ceremony. It was more than just…

Picture this: a sun-drenched morning in Somalia, a land of resplendent landscapes and cultural riches, where the air buzzes with a spirit of renewal and hope. Against this vibrant backdrop, a meeting unfolded that could very well shape the country’s future like the brushstrokes on a canvas. On Wednesday, Somali Prime Minister Hamza Abdi Barre sat down with Sultan Abdulrahman Al-Marshad, the dynamic Chief Executive of the Saudi Fund for Development (SFD). Their rendezvous was not just a gathering of formal belts and ties but…

The Green Climate Fund (GCF) has greenlit a whopping $134 million to kickstart two landmark initiatives aimed at helping vulnerable farming communities in Somalia and Iraq toughen up against climate change.Steered by the good folks over at the Food and Agriculture Organization (FAO) of the United Nations, these game-changing projects will arm millions of farmers and herders with the skills to tackle climate chaos like droughts and floods head-on.Kaveh Zahedi, chief honcho of FAO’s Climate Change, Biodiversity and Environment…

Mogadishu (AX) – On a momentous Tuesday at its 40th meeting, the Green Climate Fund (GCF) embraced a $100 million endeavor aimed at boosting Somalia’s efforts against climate chaos through the "Climate Resilient Agriculture in Somalia" (FP246) project. Somalia’s Minister of Environment and Climate Change, Khadija Mohamed Al-Makhzoumi, flanked by fellow government representatives, hailed the GCF's backing. Minister Khadija hailed the move as a pivotal stride in strengthening Somalia’s agricultural defense against erratic…

The "Covidgate" deal is bouncing back in Cameroon. The local press published a summary of the Court of Auditors' report on the management last year of the special national solidarity fund against the coronavirus. A summary which has not been denied by the Court of Auditors and which highlights the many shortcomings in the management of this fund of 180 billion CFA francs, by the Cameroonian Ministries…