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Reaching Across the Sands: Qatar's Aid to North Western State of Somalia's Drought-Impacted Communities In an unexpected display of cross-regional solidarity, Qatar has pledged $3 million to support the drought-stricken communities in North Western State of Somalia. This humanitarian gesture follows the failure of the anticipated spring rains, plunging the region deeper into an existential crisis. The announcement, made Tuesday, is more than just a financial promise; it's a testament to the shifting alliances and emerging…

Kenya Airways: Navigating Turbulence and Anticipating New Horizons Amidst the riveting expanse of African skies, Kenya Airways, one of the continent's airline giants, finds itself grappling with financial headwinds yet plotting a hopeful course toward recovery and growth. As the airline announced plans to secure at least $500 million in new capital by next year’s first quarter, it underscores a dynamic mix of challenges and ambitions in the aviation industry. A Journey Through Financial Storms Kenya Airways, often hailed…

Inside Somalia’s Judiciary Financial Quagmire Mogadishu, long viewed as the beating heart of Somalia’s hopeful resurgence, now finds itself at a crucial juncture. Somalia’s Auditor General, Ahmed Issa Gutale, has thrust the nation’s judiciary into the spotlight by accusing its top courts of obstructing essential financial audits. This revelation, leading to the disappearance of over $1 million, raises profound questions about transparency and governance in the country. A Call for Transparency, Met with Silence During a…

Mogadishu (AX) — In a revelation that can ruffle some feathers, the International Air Transport Association (IATA) brought to light that a hefty $950 million of airline moolah is stuck in African nations. This chunk represents a whopping 57% of the world’s aviation money that’s caught in a web due to scarce foreign exchanges. During a pow-wow at the African Airlines Association's big annual shindig in Cairo, IATA's head honcho, Willie Walsh, sounded the alarm, pleading for someone to get a move on and fix this jam!—astating…

In a significant move, Resolute Mining, an Australian-based company, has agreed to pay a hefty sum of $160 million to the Malian government in a bid to settle an ongoing tax dispute. This decision comes on the heels of a troubling incident where Mali's authorities detained the company’s CEO, Terence Holohan, along with two other staff members during their trip to Bamako for what was supposed to be routine negotiations with the current regime. As tensions rise, the spotlight on foreign mining operations in Mali grows ever…

Hargeisa (AX) — A staggering one million-plus voters in the self-proclaimed Republic of North Western State of Somalia turned out early on a Wednesday morning to participate in presidential and parliamentary elections, catching the eye of both local and international onlookers.The current head honcho, President Muse Bihi Abdi of the ruling Kulmiye party, faces competition from Abdirahman Mohamed Abdullahi Irro of the Waddani party and Faisal Ali Warabe from UCID. Bihi, who has been captaining the ship since 2017, recently…

In a significant move, the Somali Minister of Finance, Bihi Egeh, placed his signature on the dotted line next to the US ambassador. (Image courtesy of the US Embassy in Mogadishu, Somalia.) Chronic turmoil involving warlords and piracy has long plagued this corner of Africa. Amidst such challenges, the USA gave Somalia a bit of financial breathing room by forgiving a hefty $1.1 billion (£860m) in debt. This reveals a new chapter for Somalia as it announces the cancellation of about a quarter of its total debt through…

In a bustling week peppered with captivating headlines, a noteworthy claim has emerged regarding the Yemeni Houthis and their purported financial activities involving the Red Sea. Maritime lawyer Stephen Askins from Tatham & Co is casting a critical eye over these claims, raising a skeptical eyebrow at the notion that the Houthis are banking $180 million a month from maritime companies seeking safe passage through these waters.Mogadishu (AX) — The swirling rumors suggest that hefty payments are navigated through an…

Nairobi, AX — Somalia's government made waves on Thursday, announcing a significant milestone in their quest for economic stability. They've struck a deal with Japan to wipe out $100 million in debt, a move that aligns with their broader push for economic progress and debt resolution. Somalia's Finance Minister, Bihi Egeh, joined forces in Nairobi with Japanese Deputy Head of Mission Ogihara Hiroshi to seal this landmark arrangement. This act marks a substantial leap in Somalia’s debt cancellation journey. As Finance…

Elon Musk's political action committee isn’t just drawing names from a hat for their ambitious $1 million-a-day giveaway aimed at registered voters. According to an attorney representing the billionaire, they are handpicking individuals who can effectively champion their agenda. Chris Gober, Musk’s lawyer, made this assertion while addressing a Pennsylvania judge, attempting to dismiss claims that the giveaway was an "illegal lottery." This lawsuit was initiated by Philadelphia District Attorney Lawrence Krasner, who aims to…