traders

Tuesday April 14, 2026 Mogadishu (AX) — In a swift and sweeping move that caught many residents off guard, traders across Mogadishu on Monday stopped accepting the Somali shilling, pushing the national currency out of one of the last major markets where it still circulated in limited form. The change took hold quickly in the city’s busiest markets, on public transport and in neighborhood shops, leaving many people — especially low-income residents who depend on cash for daily purchases — facing immediate difficulties paying…

Osmond ChiaBusiness reporterThursday April 9, 2026 Oil prices climbed in Asian trading on Thursday as markets tracked the increasingly shaky US-Iran ceasefire and what it could mean for shipments through the Strait of Hormuz. The two-week truce, already described as conditional, came under fresh pressure after Israel carried out a series of deadly strikes in Lebanon, drawing a warning from Tehran of a "regret‑inducing response" if the attacks go on. Oil prices plunged on Wednesday after the announcement of the agreement…

By Dulmar Maalim Wednesday April 1, 2026 President William Ruto’s announcement that the Somalia–Kenya border will reopen in April 2026 marks a notable turn in the Horn of Africa’s security and economic outlook. Beyond the symbolism, the move speaks to a broader regional recalibration — one that places trade, connectivity, and cooperation at the center of the East African Community’s integration drive. The significance of the decision fits squarely within the broader argument I have made about regional blocs and…

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…

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 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…

MOGADISHU — The main market in Mogadishu’s Hamarweyne district remained closed for a third straight day Monday as traders protested what they say are excessive and unlawful tax demands imposed by Somalia’s Federal Government. Shopkeepers told local media the Ministry of Finance’s revenue department recently introduced additional fees that far exceed the legally mandated taxes they already pay each year. Several business owners said the new charges run into the hundreds of dollars — sums they say they cannot afford in the…

The border between Senegal and Guinea has been closed for more than 6 months. Decision made by Guinea's President Alpha Condé at the end of September 2020 before the presidential election that led to his re-election. Justification: "safety reasons". The ECOWAS Commission last week called for continued "ongoing bilateral discussions" between Dakar and Conakry to resume the border. An incomprehensible…

Salaam Somali Bank's branch in Beledweyne, Hiran region on Tuesday provided free microfinance to small business owners as part of the second phase of the 2021 offer. Qardu Hassan aims to develop and encourage small businesses throughout Somalia, according to the bank's management, which is credited with being the first in the country to found in 2009. The new traders who were given the opportunity said they are grateful to Salaam Somali Bank for its timely support which has helped them expand their business in the face…

Salaam Somali Bank has provided free microfinance to small businesses in the country's central city of Abudwak in the Galgadud region as part of the second phase Qardu Hassan, which aims to boost the economy. On Sunday, the bank's branch in the city offered free microfinance to small Somali traders, including women, with the aim of helping to expand their business amid the devastating Covid-19 pandemic. On the occasion, the recipients of Salaam Somali Bank's free microfinance said they were grateful to the bank for the…