year

Year 2024: a monumental chapter etched into Somalia’s modern tapestry—a year where sovereignty hung delicately by a thread. As fireworks painted the sky on New Year’s Day, Ethiopia and North Western State of Somalia clandestinely inked a Memorandum of Understanding. This agreement, granting Ethiopia access to a 19-kilometer stretch of North Western State of Somalia’s coast, bypassed Somalia’s federal heartbeat. Was this a simple diplomatic maneuver, or a disruptive gambit? Ethiopia, in a tantalizing exchange, hinted at…

Mogadishu (AX) — A startling revelation has emerged from ENACT Africa, an EU-initiated program focused on thwarting the scourge of transnational organized crime within the continent. The fresh data paints a grim picture, spotlighting how illicit fishing activities are wreaking havoc on Somalia's aquatic bounty, endangering the much-coveted yellowfin tuna, and unearthing glaring gaps in maritime management. It's a real fishy business, if you ask me! Could you imagine a more tantalizing prospect? Somalia, boasting the…

As the curtain drew on the last quarter of the year, the Corporate Council on Africa (CCA) found itself in the spotlight—quite literally. The organization capped off its busy season with an extraordinary invitation from the White House, asking CCA to join President Biden's official delegation to Angola, his final international sojourn as President. Florie Liser, the President and CEO of CCA, couldn't hide her enthusiasm as she shared this momentous update with members. "I was thrilled to see both Presidents dive into…

Ukrainian President Volodymyr Zelensky recently expressed a strong desire for Ukraine to bring the ongoing conflict with Russia to a close by next year, primarily through “diplomatic means.” This statement comes as both nations brace for a potential Donald Trump comeback in the political arena. February 2025 is significant as it signifies the third anniversary of Russia’s aggressive invasion of Ukraine. Over the past few months, Russian forces have been making substantial gains against Ukraine’s outnumbered and outgunned…

Germany's beleaguered Chancellor Olaf Scholz recently indicated he might request a confidence vote this year, potentially setting the stage for snap elections. “I'm completely open to a confidence vote before Christmas—if everyone’s on board, I’m good to go,” he remarked, following the disintegration of his coalition government earlier this week. Scholz had earlier discussed the possibility of a mid-January vote, which, according to German electoral laws, could lead to new elections by late March—six months sooner than…

Mogadishu (AX) — The bicameral legislature of Somalia has greenlit a substantial budget of $1.36 billion for the fiscal year 2025, reflecting a robust increase of 24.4% over the previous year. This decision came during a parliamentary session held on Monday in the capital, Mogadishu. In attendance were 143 Members of Parliament and 32 senators. The First Deputy Speaker of the People's Assembly, Saadiya Yasin Haji Samatar, confirmed that an overwhelming majority of 172 lawmakers backed the budget, with only two MPs voting…

Bal'ad (AX) — In a decisive gathering led by President Abdullahi Hussein Guudlawe in Bal'ad, Hirshabelle State's Council of Ministers gave the green light to a budget of $33,558,000 for the fiscal year 2025 on Thursday.During this pivotal session, the Minister of Finance and Economic Development unveiled the 2025 Budget Allocation Act. This plan ventures to bolster the number of civil servants in Hirshabelle's administration."We've secured $33,557,830 for the upcoming year's financial blueprint," proclaimed the Council in…

The government has announced an ambitious 25-year development strategy designed to enhance competitiveness, promote sustainable resource management, and uphold exemplary governance, establishing a foundation for economic autonomy. Dubbed "Senegal 2050," this initiative aspires to raise per capita income by an impressive 50% over the next five years. There’s also a goal to extend the average life expectancy by three years and to mitigate national debt and fiscal deficits. The overarching intention is to diminish reliance on…

Mogadishu (AX) – At a special gathering led by Prime Minister Hamza Abdi Barre, Somalia's Cabinet of Ministers gave the green light to a whopping $1.3 billion budget for 2025. This decision was made during an urgent session held on Tuesday. This budget showcases a 24.4% jump from the previous year's allocation, all thanks to a surge in home-grown revenue. The Ministry of Finance spilled the beans, revealing that the budget for 2025 had ballooned by $263 million compared to the $1.08 billion earmarked for 2024. “Ramping up…

"The definition requires broadening because businesses are indulging in activities that, while not criminal, significantly impact domestic resource mobilization." The world lacks a clear, universally agreed-upon explanation of illegal financial flows (IFFs), resulting in a myriad of interpretations. Illicit financial flows encompass unauthorized or unethical financial exchanges across borders, including money laundering, tax dodging, and the financing of terrorism. These flows seriously threaten, particularly impacting…