Browsing: Somalia

• The EAC’s distribution sector is marred by systemic challenges, despite claims of a working free trade zone in the bloc.
• Stakeholders say that persistent bottlenecks hamper the flow of goods and services across the eight-member area.
• A recent EU-led EAC Peer-to-Peer Learning Conference sought to formulate a strategic action plan to address barriers limiting the industry’s growth and development.

The East African Community (EAC) is an eight-country strong regional free trade bloc in East Africa, by definition, it should mean easier movement or distribution of goods and services, but that’s only true on paper, the reality on the ground is quite on the contrary.

EAC maintains that it is “dedicated to enhancing economic efficiency and fostering regional integration through strategic investments and the utilization of established industries. The goal is to position the Community as a single investment area, harmonizing trade policies, investment incentives, and product standards.”

Protocols demand that …

• The civil society has opposed Somalia plan to reduce Adult Age to 15 
• Under Somalia’s provisional constitution, a child is defined as a person under the age of 18.
• he proposed amendments also include physical development as the determining factor in a person’s majority.

Somalia’s parliament should reject any proposed constitutional amendments that would weaken rights protections for children, Human Rights Watch has said.

On March 30, 2024, both houses of parliament are expected to vote on the proposed amendments, which would reduce the age of majority – increasing the risk of child marriage and lowered juvenile justice standards – and possibly permit certain forms of female genital mutilation.…

• These businesses, along with their affiliates in Kenya, Uganda, Somalia, Cyprus and UAE form the backbone of a sophisticated network that launders millions of dollars for Al-Shabaab.
• US says firms such as Nairobi-based Crown Bus Services and other investment projects that masquerade as legit commercial ventures, empower Al-Shabaab’s lethal agenda.
• Al-Shabaab is estimated to siphon over $100 million per year from the regional and global financial system.

The US, through its Department of the Treasury’s Office of Foreign Assets Control (OFAC), has cast a wide net across the UAE, Kenya, Uganda, and Somalia, targeting entities and individuals with wide-ranging sanctions for their complicity in financing Al-Shabaab terror network.

This designation, enveloping 16 entities and individuals, reveals the intricate web of financial operations spanning from the Horn of Africa to the opulent corridors of the United Arab Emirates (UAE) and the serene island nation of Cyprus.

This sprawling network, carefully pieced …

• The US Navy SEALs executed a complex boarding of a dhow near the coast of Somalia in the international waters of the Arabian Sea, seizing Iranian-made ballistic missile and cruise missile components.
• The seized items included propulsion, guidance, and warheads for the Yemen-based terror group Houthi medium-range ballistic missiles and anti-ship cruise missiles.
• During the operation, however, one Navy SEAL fell into the rough waters off Somalia’s coast, and a second SEAL followed, attempting to rescue him in vain.

The US Navy has declared two SEALs, who went missing off the coast of Somalia 11 days ago, dead following a futile search and rescue mission.

The two Navy SEALs were reported missing after a risky mission involving the boarding of a vessel loaded with missile assembly materials in operation on the night of January 11 off the coast of Somalia, as stated by the United States Central Command in an …

• The program, which runs for 18 months, aims to support political stabilization and reconciliation in Somalia, a fragile country in the Horn of Africa.
• In line with the National Stabilization Strategy the financing will go to water infrastructure, security, and reconciliation initiatives. 
• The EU is making tangible progress in supporting Somalia’s transition to a peaceful and stable nation. The project also seeks to enhance the legitimacy of Somali authorities in locations recently liberated within Hirshabelle, Galmudug, Southwest, and Jubaland State.

The European Union alongside the Nordic International Support Foundation have launched a $4.9 million Rapid Nationwide Stabilisation project in Somalia aimed at further strengthening the fragile country’s water infrastructure, security and reconcilliation initiatives. 

The European Union to the Federal Republic of Somalia together with the Somali authorities and its implementing partner the Nordic International Support Foundation recently launched the new program which will run over an 18-month period.

“We are …

• AfDB announces US$ 1.5 billion funding for emergency food responce
• AfDB pledges seeds & fertilizers for 20 million smallholder farmers
• Oxfam warns of famine in Somalia

In May 2022, the African Development Bank (AfDB) Board of Directors approved $1.5 billion in funding for what the bank called the African Emergency Food Production Facility; one year down the road, has the funding achieved its purpose?

AfDB President Akinwumi Adesina described the facility as a necessary support for Africa’s emergency food response in the face of shortages caused by the Russia-Ukraine war.

The bank’s President said the funding will help to significantly increase food production in Africa and avert what he at the time described as ‘the looming food crisis caused by the Russia-Ukraine war.’

Making the announcement at the Summit of G7 leaders last year in Washington, Mr. Adesina announced that the African Development Bank (AfDB) would out of its own …

According to a Fair Tech Institute whitepaper by Access Partnership, a global public policy firm for the technology sector, the annual number of natural disasters is set to increase by 37 per cent from 442 to 541 occurrences by 2025.

The whitepaper highlights the urgency with which national governments and the private sector must attach satellite technology to implement more effective disaster management efforts in Africa and globally.

The whitepaper comes after several organizations agreed that climate change would make weather-related disasters more frequent and widespread in coming years.…

• MyBank, Mastercard and Network International have partnered to launch a new Mastercard debit card in Somalia
• The new physical card is a first for MyBank in the country and will enable consumers to transact in-store at various points of sale and at ATMs
• The initiative is expected to contribute to significantly boosting digital payments penetration in Somalia and will be supported by an awareness programme, educating customers on the card benefits and usage

As part of continued efforts to expand access to the digital economy and drive financial inclusion in Somalia, MyBank, Mastercard, and Network International have partnered to launch a new Mastercard debit card that seamlessly enables online shopping in Somalia.

The new physical card is a first for MyBank in the country. It will enable consumers to transact in-store at various points of sale and ATMs while also giving them the ability to make online purchases through e-commerce …

• Tech hub startups are among the businesses growing immensely in Somalia
• There has also been an increasing number of potential businesses coming up in Somalia, brought about by the increased growing economy

Investment opportunities in Somalia are on the rise, driven by increasing diaspora remittances.

This is according to various experts among them Silicon Horn co-founder Awil Osman who emphasized the need of using remittances to grow the startup ecosystem in the country.

“Tech hub startups are among the businesses growing immensely in Somalia. There are now more than 15 of them. The startup ecosystem is rapidly going regional,” Osman said.

Commenting on the same, Pangea Trust Managing Director Anne Lawi said that there has been an increasing number of potential businesses coming up in Somalia, brought about by the increased growing economy.

“We see the potential to increase the share of remittances set aside as investments to 25 per …