transfers

Kenya's Cross-Border Cash Movement: Insights and Implications The latest Survey on Cross-Border Movement of Cash has shed light on a significant trend in Kenya's financial landscape. The report indicates that 15 commercial banks, representing an impressive 39.4% of all licensed banks in the country, are actively engaged in facilitating cash shipments across borders. It's fascinating to consider how interconnected our global economy truly is. Have you ever pondered where the physical cash you come into contact with…

In recent years, the continent of Africa has faced significant challenges in economic growth, primarily due to losses that severely hinder foreign direct investment (FDI) and development assistance. This loss is more than a statistic; it resonates in the lives of millions who are deprived of essential resources necessary for infrastructure, healthcare, and education. The underlying culprits—illicit financial flows—are often driven by practices such as capital flight, tax evasion, and crimes ranging from money laundering to…

Northeastern State's Struggles and Resolve Against ISIS Mogadishu (AX) — The economic landscape of Northeastern State is undergoing severe turbulence, a crisis that President Said Abdullahi Deni attributes to the looming shadow of ISIS militants in the Al-Miskaad mountain range. During a recent banking development forum in Garowe, he voiced a conviction that echoes the frustrations of many citizens. “The main reason for Northeastern State’s economic downturn is the presence of ISIS in Al-Miskaad,” he stated emphatically.…

Prisoner Release Delays Amid Ceasefire Complications Israel has announced the delay of releasing hundreds of Palestinian prisoners until there is certainty regarding the next stage of hostage releases, absent the elaborate ceremonies that previously accompanied handovers of Israeli captives in Gaza. It’s an intricate situation, complicated by geopolitics and human narratives. This decision, communicated by Prime Minister Benjamin Netanyahu's office early on a Sunday, halted the anticipation of movements in and out of the…

Kismayo (AX) - On a notable Wednesday, the African Union Transition Mission in Somalia (ATMIS) passed the reins of the Kuday Forward Operating Base (FOB) to the Somali Security Forces (SSF) in Jubaland State.Tucked away in Lower Juba, Kuday FOB has been under the vigilant watch of the ATMIS Kenya Defense Forces (KDF) since 2015. The troops have been pivotal in fortifying Kismayo, acting as a crucial barrier around the bustling port city.Brig. Rashid Seif, who commands Sector Two of ATMIS, led the ceremonial turnover attended…

Somalia's security faces peril from illegal arms trafficking, warns the nation's foreign minister. (Mustafa Çağlayan - Anadolu Agency) MOGADISHU, Somalia - On Sunday, Somalia voiced fresh anxiety over alleged illegal weapon deliveries from Ethiopia, casting a shadow over the Horn of Africa. During a press briefing in Mogadishu, Somali Foreign Minister Ahmed Moallim Fiqi denounced the alleged arms deliveries as a danger to the country’s safety. He appealed to Ethiopia for adherence to current pacts and commended Türkiye's…

Britain has recently declared it will relinquish its claim over the Chagos Islands, transferring sovereignty to Mauritius. However, as described by US President Joe Biden as a "historic agreement," the UK will maintain its military foothold in the Indian Ocean through a significant partnership with the United States. The British administration has faced enduring calls to return the islands to Mauritius for decades. Yet, it has clung to control primarily due to the strategic importance of the Diego Garcia base for American…

Sudan will hand over longtime autocrat Omar al-Bashir to the International Criminal Court along with other officials called for the Darfur conflict, Foreign Minister Mariam al-Mahdi said on Wednesday. "The Cabinet decided to hand over wanted officials to the ICC," Mahdi was quoted as saying by state media. Bashir, who ruled Sudan with an iron fist for three decades before being ousted from popular protests in 2019, is charged with genocide, war crimes and crimes against humanity in Darfur. The UN says 300,000 people…

President Joe Biden's administration has transferred its first prison from the US military base at Guantanamo: a Moroccan who has been repatriated, the Pentagon announced on Monday (July 19). A way for the tenant in the White House to take over Barack Obama's unfinished work. "The Ministry of Defense announced today the…

In a report published last year, the World Bank predicted a 23% reduction in remittance rates due to the impact of the Covid-19 pandemic on the employment of migrant workers. In Mali, diaspora money officially and according to the latest available figures represents more than 5% of the country's GDP. as reported from Bamako,…