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The Impact of Tariffs on Small Businesses and Economic Stability The recent implementation of a staggering 145% duty on Chinese imports is more than just a headline; it’s a potential tipping point for many American businesses. Ryan Petersen, the CEO of Flexport, raised this alarming possibility during a recent episode of The Prof G Pod, asserting that this drastic measure could lead to "mass bankruptcies." His insights prompt us to ask: what happens to small businesses when the market suddenly shifts beneath their feet?…

Hargeisa (AX) – In a decisive move, officials in Hargeisa have initiated a ban on the public carrying of small arms, including knives and machetes, throughout every district of North Western State of Somalia's capital. This comes as a direct response to an unsettling increase in knife-related violence that has left communities feeling uneasy. Announced by the Hargeisa Security Committee on a quiet Sunday afternoon, the decision was fueled by the tragic stabbing deaths of two individuals in the bustling Mohamed Mooge…

An unexpected tragedy unfolded on a sunny Friday afternoon in Malindi, a serene town along Kenya's north coast. The tranquility was abruptly shattered when a light aircraft made a dramatic crash landing on a roadside, claiming the lives of three individuals, according to local police. Kilifi County Police Commander, Joseph Ongwae, reported that the ill-fated aircraft, tagged as 5Y-CDC, departed from Malindi Airport, aiming for Wilson Airport in Nairobi. Trouble brewed shortly after takeoff when the aircraft, which was…

Somali Troops Reclaim Key Location Amid Slow Progress in Fight Against Al-Shabaab MOGADISHU, Somalia – The Somali National Army (SNA) has reclaimed Ali Yabal, a crucial town situated approximately 18 kilometers from Eeldheer in the Galgaduud region, from Al-Shabaab militants. This development marks a notable advancement for government forces after over a year of sluggish movement in their campaign against these insurgents. The specifics of this maneuver remain somewhat elusive. The SNA has indicated that this was part of a…

Salaam Somali Bank Provides Micro Credit to Small Businesses in Mogadishu MOGADISHU, Somalia - The Salaam Somali Bank, which is a leading private bank in Somalia, continues to contribute to the country's economic growth by providing free microfinance funds to develop small businesses. On Thursday August 19, 2021, the Bank's branch in the Bakaro market provided microfinance funds called “Qardu…

Salaam Somali Bank offers free microfinance to small businesses MOGADISHU, Somalia - The Salaam Somali Bank (SSB) provided free microfinance to small businesses in the country's capital as part of the annual Grand Pleasure program designed to boost culture and rival economy. On Monday July 5, the Bank's branch at Km-5 in Mogadishu offered free microfinance to resident traders, including women,…

Salaam Somali Bank offers free microfinance to small businesses in Mogadishu The Salaam Somali Bank on Saturday provided free microfinance to traders running small businesses in Mogadishu, an initiative to boost the economy. The show called "Qardul Hassan" brought smiles to small traders who have benefited from the non-profit investment that will help them grow and expand their business. A…

New research assesses effects of mobile money service on small and medium-sized businesses in Somalia To disseminate the newly discovered knowledge among researchers and the public, the Research and Development Center of SIMAD University organized a forum for disseminating research results at the Primo Palace. Ustad Abdinor Ali Mohamed, Principal Researcher and Lecturer at the Faculty of…

Financing small businesses is crucial for Somalia MOGADISHU, Somalia - In Somalia, it is usually difficult for people to finance business ideas. Most of the UCITS are not designed to support business start-ups, not even where they are meant to make money. The understanding and culture for creating business ideas does not work. This has forced many promising business ideas not to start due to…

Salaam Somali Financial institution affords free microfinance for small companies Salaam Somali Financial institution on Saturday supplied free microfinance to merchants working small companies in Mogadishu, a transfer geared toward boosting the financial system. This system known as Qardul Hassan put a smile on the face of almost 100 retailers who've benefited from the non-profit…