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market

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#market

20 Articles

Livestock wealth drives growing market power

By Ahmed Abdi Hussein Thursday April 30, 2026 Somalia has one of the strongest livestock sectors in the region, yet the country still sells much of that wealth through an outdated system that leaves producers with little power and limited returns. From the country’s wide rangelands come millions of goats and sheep raised under pastoral systems refined over generations. The animals are hardy, naturally grazed, and well matched to global demand. They have long supported livelihoods and played a central role in the…

Somalia targets China seafood exports after zero-tariff policy opens market

Wednesday April 29, 2026 Mogadishu (AX) — Somalia is poised to widen its seafood exports after China unveiled a zero-tariff policy for imports from 53 African countries, a move that could reshape the country’s fisheries sector and give a lift to economic growth. The policy, which takes effect on May 1, will allow Somali marine products to enter Chinese markets duty-free, removing a major obstacle that has long held back direct trade. Fisheries Minister Ahmed Hassan Aden said the arrangement opens a direct route to one of…

Mogadishu orders traders to accept Somali shilling in market transactions

Friday April 17, 2026 Mogadishu (AX) — After days of commercial strain in Somalia’s capital, authorities in Mogadishu moved on Thursday to enforce an order compelling traders to accept the Somali shilling. Banadir Regional Governor Hassan Mohamed Hussein Muungaab issued the directive in response to mounting complaints that refusal to take the national currency had disrupted everyday business and public transport across the city. Under the order, any trader who declines the Somali shilling will be regarded as violating the…

Scores of Civilians Killed in Nigeria Airstrike Targeting Market

A tragic airstrike by the Nigerian military has claimed the lives of numerous individuals, primarily traders, after hitting a village market. This incident unfolded near the border connecting Yobe and Borno states, where the aircraft was reportedly engaged in operations against Islamist militants. According to the Nigerian Air Force, the strikes were part of "mop-up" operations targeting "identified terrorist locations" along the Jilli axis in Borno State. Sources indicate that the fighter jet involved was tracking a group…

Kenya’s queen ants worth $220 each fuel global wildlife black market

Wycliffe Muia, NairobiSunday March 29, 2026 Giant African harvester ants - seen here in Kenya - have become highly sought after by hobby collectors across the world Right now, the ants are taking flight in Kenya. In the rainy season, clouds of them rise from thousands of anthills around Gilgil, a quiet farming town in Kenya's Rift Valley that has unexpectedly become the hub of a lucrative illegal trade. The mating ritual sends winged males out of the nest to fertilise queens, which also take to the air at this time. That…

Bakaara market traders protest alleged government plan to sell market land

Thursday March 26, 2026 Mogadishu (AX) — Tensions flared at Mogadishu’s Bakaara Market on Wednesday as hundreds of traders poured into the streets, accusing Somalia’s federal government of preparing to sell part of the market’s land to wealthy businessmen they say have close ties to those in power. The demonstrators blocked major roads leading into the sprawling market, denouncing what they described as an impending eviction that could wipe out their livelihoods. Many traders said the plan amounts to transferring public…

Bakaara market traders protest alleged government plan to sell market privately

Thursday March 26, 2026 Mogadishu (AX) — A sweeping protest gripped Mogadishu’s Bakaara Market on Wednesday as hundreds of traders flooded the streets, accusing Somalia’s federal government of moving to shut down the country’s largest commercial hub so the land can be transferred to wealthy businessmen with connections to officials. Demonstrators cut off major routes leading into the market, denouncing what they said was an impending eviction that would wipe out livelihoods built over years. Traders alleged the authorities…

Traders Protest Eviction Order at Somalia’s Bakara Market

Traders protest eviction order at Bakara Market in Somalia MOGADISHU, Somalia — Hundreds of merchants at Bakara Market, Somalia’s biggest commercial artery, poured into the streets Wednesday, saying authorities had ordered the market closed and told them to clear out — a move they fear will pave the way for politically connected investors to seize the land. Demonstrators blocked key access roads to the market, decrying what they called an effort to uproot long-established businesses. Many accused the government of trying…

Iran Claims Strait of Hormuz Closure, Fueling Fears of Oil Market Shock

AXADLE, Somalia — Iran’s state media reported that the Islamic Revolutionary Guard Corps has declared the Strait of Hormuz closed to maritime traffic, warning commercial and oil tankers against attempting to transit the waterway as regional tensions escalate. According to Reuters, a senior IRGC commander said vessels that try to pass through the strait would face direct attack, adding that ships violating the order would be set ablaze. The remarks, carried by Iranian state outlets, immediately raised fears of energy-market…

Ten dead after drone strike hits Sudan’s Darfur market, rescuers say

A drone strike on a crowded market in Sudan’s North Darfur killed 10 people over the weekend, first responders said, as fighting intensified across the country and aid agencies pulled staff from a besieged, famine-hit city in the south. The North Darfur Emergency Rooms Council, a volunteer network coordinating relief, said a drone hit Al-Harra market in the Rapid Support Forces-controlled town of Malha, igniting fires in shops and causing extensive damage. The council did not identify who carried out the strike. There was no…