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[Column] Hassan Egeh: What does it mean for Somalia to join East Africa Communities (EAC)?
Somalia was admitted into the East African Community (EAC) on Friday Novermber24, 2023 the eighth member of the bloc as it seeks to expand free trade across the region.
Somalia joins East African Community
It joins Kenya, Burundi, the Democratic Republic of the Congo, Rwanda, South Sudan, Uganda and Tanzania in the bloc.
[Somalia] Mastercard and SomBank launch debit card in Somalia
The purpose of the partnership is to promote the adoption of digital payment solutions in the country, bringing more Somalis into the digital fold.
Africa Finance Corporation expands footprint in Benin, Botswana, DRC and Somalia
Africa Finance Corporation, the continent’s leading infrastructure solutions provider, continues to expand and diversify its membership and shareholder base, recently welcoming Benin, Botswana, the Democratic Republic of Congo, and Somalia.
[Interview] Adan Abbey, President, Horn of Africa Insurance, Somalia
Adan Abbey is the President of Horn of Africa Insurance that serves the Somaliland and Somalia market.
EAC launches the Verification Mission to assess Somalia's readiness to join the Community
The verification team comprising of experts from the EAC Partner States shall be in Somalia from 25th January to 3rd February, 2023, to establish the country’s level of conformity with the criteria for admitting foreign countries as provided in the Treaty for the establishment of the EAC.
African Development Fund approves $5.4 million grant to build food security, as millions face crisisin Somalia
The Board of Directors of the African Development Fund has approved a $5.4 million grant to support the building of urgently needed food security in Somalia.
CBS approves banking licenses of Banque Misr and Ziraat Katilim to operate in Somalia
The Central Bank Of Somalia (CBS), announced it has given approval to Egypt’s Banque Misr and Turkiye’s Ziraat Katilim to establish and operate branches in the country, after fulfilling all bank licensing requirements of the CBS.
Thousands of IDPs and urban dwellers to benefit from improved healthcare in Mogadishu
UN-Habitat, Benadir Regional Administration (BRA), and the Danish Refugee Council held a second ground-breaking ceremony for the renovation of two health care facilities through a European Union Funded project.
World Bank appoints Keith Hansen as New Country Director for Kenya, Rwanda, Somalia and Uganda
The World Bank has appointed Mr. Keith Hansen as the new Country Director for Kenya, Rwanda, Somalia, and Uganda effective September 8, 2020.
AECF launches $8.5m grant to support clean energy businesses in Somalia
The Africa Enterprise Challenge Fund (AECF) launched a $ 8.5 million grant facility to support adoption and diversification of renewable energy solutions in the Somalia and Somaliland.
Canada announces over $73 million in funding to respond to drought in Horn of Africa
Severe drought conditions in Ethiopia, Kenya and Somalia could result in over 20 million people across the region needing emergency food assistance in 2022, which would be a 70% increase when compared to the severe drought in 2016 and 2017.
Donors pledge $1.39 billion for Horn of Africa drought response
Donors pledged $1.39 billion for humanitarian and development response to the drought in the Horn of Africa that has left more than 15 million people severely food insecure across Ethiopia, Kenya and Somalia.
L'impact du conflit ukrainien sur la sécurité alimentaire se fait déjà sentir dans la région Nord-Est Afrique
Alors que la guerre continue en Ukraine, les effets de la hausse des prix des denrées alimentaires et des pénuries de cultures de base se font déjà sentir dans l'Afrique du Nord'-Est et s'étendent aux pays les plus vulnérables du monde, notamment dans la Corne de l'Afrique, prévient le FIDA.
African Development Fund approves $4.3 million grant to Somalia for statistics development
The project forms part of plans to rebuild institutional capacity that was weakened in Somalia during several years of conflict. The absence of sound economic and social data has hampered planning and constrained investment in the country.
13 million people facing severe hunger as drought grips the Horn of Africa, WFP reports
The Horn of Africa is experiencing the driest conditions recorded since 1981, with severe drought leaving an estimated 13 million people across Ethiopia, Kenya, and Somalia facing severe hunger in the first quarter of this year.
Somalia government’s investment in ICT boosts telecom sector, report
These have mainly been in response to the government, having been newly elected in 2017, being determined to promote ICTs and to bring the country into line with international developments.
TİKA provides seeds and chemical fertilizers to support agricultural development in Somalia
The Turkish Cooperation and Coordination Agency (TİKA) provided seeds and chemical fertilizers as part of the Agricultural Development Project implemented in the South-West State of Somalia.
MyBank, Mastercard and Network International elevate ecommerce in Somalia with new debit card launch
MyBank, Mastercard and Network International have partnered to launch a new Mastercard debit card that seamlessly enables online shopping in Somalia.
Pangea Trust opens applications for its Startup Connect Programme
Pangea Trust has opened applications for its Startup Connect Programme, to increase the deployment of diaspora remittances and networks to provide investment capital to MSMEs and startups in Kenya, Ethiopia and Somalia.
Somalia’s economy rebounding from triple shock, World Bank Economic Update
This growth momentum is expected to continue in the medium term and reach pre-COVID-19 levels of 3.2 percent in 2023.
AfDB, partners unveil initiative to secure climate-resilient water and sanitation services in five African countries
AfDB, in partnership with the Nordic Development Fund and the Government of Denmark will roll-out a program to strengthen access to climate-resilient water and sanitation resources in Burkina Faso, Ethiopia, Mali, Niger and Somalia.
Somalia launches trade information portal to boost cross-border trade
To facilitate cross-border trade and provide more transparent trade information for businesses, Somalia's Ministry of Commerce and Industry, supported by the IFC, launched a trade information portal to lower costs and simplify trade procedures.
World Bank approves $100m to improve healthcare services for Somalia women and children
The World Bank is supporting the Improving Healthcare Services in Somalia Project with $75 million IDA grant and an additional $25 million grant from the Global Financing Facility for Women, Children and Adolescents (GFF) in Somalia.
DP World, Somaliland open new terminal at Berbera Port
DP World, the provider of integrated logistics solutions, and the Government of Somaliland inaugurated the new container terminal at Berbera Port, following completion of the first phase of the port’s expansion.
UN Central Emergency Response Fund supports anticipatory action in Ethiopia and Somalia
The United Nations Central Emergency Response Fund (CERF) is providing $40 million for anticipatory action in Ethiopia and Somalia to ensure that people get help before the situation turns into a devastating food security crisis.
Somalia receives first batch of COVID-19 vaccines under the COVAX initiative
Somalia has joined the growing list of countries to receive the COVID-19 vaccines, under the COVAX initiative which aims to ensure fair and equitable access of all nations to the pandemic-beating solution.
FAO to provide livelihood assistance to nearly 49 million people in 2021
As the COVID-19 pandemic, conflict and climate-related crises drive acute levels of hunger higher, FAO is seeking $1.1 billion in 2021 to save the lives and livelihoods of some of the world's most food-insecure people.
FAO pledges to scale up direct use of digital financial transfers
In another step towards creating a "digital FAO", the Food and Agriculture Organization of the United Nations is committing to increasing by 50 percent its delivery of digital financial transfers and vouchers to beneficiaries.
FAO welcomes €40m from Germany to help farmers withstand shocks and extreme climate events
The Food and Agriculture Organization of the United Nations (FAO) welcomed a €40 million contribution from Germany to help farmers and fishers withstand threats like COVID-19 and extreme climate events.
Africa Enterprise Challenge Fund launches $8.5Million Grant to support Clean Energy startups in Somalia
The Africa Enterprise Challenge Fund (AECF) has launched an $8.5 million grant facility to support renewable energy startups in Somalia and Somaliland.
IFC, Somalia sign agreements to strengthen private sector growth, encourage investment
IFC, a member of the World Bank Group, has signed its first formal agreements with the Federal Government of Somalia to support the country's goal to strengthen its private sector, attract investment, improve public services, and create jobs.
EU provides additional €17.2m to support health systems in Somalia, Sudan and South Sudan
The European Union has approved an additional €17.2 million through the EU Emergency Trust Fund for Africa (EUTF) to support coronavirus preparedness in Somalia, Sudan and South Sudan.
Canada supports UNFPA Somalia on Strengthening Sexual and Reproductive Health and Rights initiative
The Government of Canada has provided CAD$ 11 million to support the Government of Somalia, through UNFPA, on a new initiative on Strengthening Sexual and Reproductive Health and Rights.
Sombank selects Temenos cloud-native technology for digital Islamic banking services in Somalia
Temenos announced that Sombank has selected the Temenos Islamic Banking solution in the cloud to accelerate its digital transformation and create innovative products to increase access to financial services in Somalia.
Irrigation cooperatives empower Ethiopia and Somalia communities to combat climate extremes
Long lasting environmental degradation, scarcity of water and grasslands are causing friction between host and refugee communities in the Dolo Ado woreda of the Somali region in Ethiopia.
Team Europe supports Somalia with three EU Humanitarian Air Bridge flights
An EU Humanitarian Air Bridge flight arrived in Mogadishu from Brindisi, Italy, carrying humanitarian and medical supplies provided by the Italian Ministry of Foreign Affairs and International Cooperation.
WorldRemit launches remittance service in Somalia
WorldRemit, the global online money transfer service has announced the launch of its remittance services in Somalia.
World Bank approves $40 million emergency financing to support Somalia’s Desert Locust response
The World Bank approved a $40 million International Development Assistance (IDA) grant for Somalia as part of the Emergency Locust Response Program, which seeks to respond to the threat posed by the locust outbreak.
World Bank approves $55 million to sustain Somalia’s reforms and fiscal response to multiple crises
The World Bank Board of Directors has approved a $55 million International Development Assistance (IDA) grant to support Somalia’s economic recovery.
EU mobilises €3 million in emergency assistance for floods in East Africa
The EU has mobilised €3 million in emergency assistance to countries in East Africa that have been hit by heavy rainfall over the past weeks, triggering devastating landslides and floods.
World Bank approves $137.5 million for Somalia’s response to COVID-19, floods and drought
The World Bank approved a $137.5 million International Development Association (IDA) grant to help Somalia respond to and recover from multiple, ongoing, and overlapping crises.
Somalia’s internal revenue mobilization galvanised by UA 5.5 million grant from African Development Bank
The Federal Republic of Somalia (FGS) revenue mobilization strategy received a boost with a UA 5.5 million grant from the African Development Bank.
Oxfam, partners raise alarm over Somali remittance lifeline
Oxfam International, together with over 100 NGOs, activists, and academics, raised an alarm regarding the plummeting Somali remittances amid the COVID-19 crisis.
Japan contributes $7.5 million to help fight locust swarms in East Africa
The World Food Programme (WFP) welcomed a contribution of US$7.5 million from the Government of Japan to help support vulnerable people in three East African countries hit by locust swarms feeding off crops.
AfDB approves $1.5 million emergency grant to curb desert locusts ravaging East and Horn of Africa
The African Development Bank (AfDB) approved a $1.5 million emergency relief grant to assist nine countries in the East and Horn of Africa on the control of swarms of desert locusts.
New dawn for Somalia as arrears owed to the African Development Bank Group cleared
Arrears on loans owed by Somalia to the African Development Bank Group have been cleared following the payment in full of $122.55 million by the governments of the United Kingdom and the European Union.
Somalia clears arrears to World Bank
The Federal Government of Somalia has cleared its arrears to the International Development Association (IDA), completing the process of normalizing its financial relationship with the World Bank Group.
Shell, ExxonMobil JV agrees on initial roadmap for exploration and development, offshore Somalia
The Ministry of Petroleum and Mineral Resources of Somalia has agreed on an initial roadmap with the Shell, ExxonMobil Joint Venture towards the exploration and development of certain offshore hydrocarbon blocks.
Somalia, African Development Bank Group sign agreement for arrears clearance support
Somalia and the African Development Bank signed a $122.55 million grant agreement to advance Somalia’s national development agenda, consolidate peace and ensure inclusive economic growth and poverty reduction.
Somalia to reestablish financial relations with the World Bank after 30 years
The World Bank Group Board of Executive Directors has moved toward normalizing its relations with the Federal Government of Somalia (FGS) after thirty years.
Somalia to reestablish financial relations with World Bank after 30 years
The World Bank Group Board of Executive Directors moved toward normalizing its relations with the Federal Government of Somalia (FGS) after thirty years.
United States announces $8 million to locust control operations in East Africa
In response to the outbreak of desert locusts in East Africa, the United States, through the USAID, will be providing $8 million in humanitarian assistance to support regional operations to control locusts.
Africa Solidarity Trust Fund donates $1 million to combat Desert Locust in East Africa
The Africa Solidarity Trust Fund (ASTF) has donated $1 million to the Food and Agriculture Organization (FAO) of the United Nations to combat the worsening Desert Locust upsurge in the Horn of Africa.
Alarm over Desert Locusts increases as new generation starts breeding in Horn of Africa
The UN Food and Agriculture Organization (FAO) warned that the rising numbers of Desert Locusts present an extremely alarming and unprecedented threat to food security and livelihoods in the Horn of Africa.
Massive, border-spanning campaign needed to combat Locust upsurge in East Africa, FAO
Desert Locust swarms in Ethiopia, Kenya and Somalia, already unprecedented in their size and destructive potential, could swell exponentially and spill over into more countries in East Africa.
IITA, eight CGIAR centers to provide support in rebuilding Somalia’s agriculture sector
IITA and eight other CGIAR centers have met with officials from the Government of Somalia and several agriculture development partners to put together a plan to rehabilitate Somalia’s agricultural sector.
Horn of Africa countries launch regional initiative to forge closer economic ties, strengthen political climate
Five Horn of Africa countries have launched an initiative to forge closer economic ties, building on the improving political climate in the sub-region.
CGIAR and Somali officials in deal to support agricultural development in Somalia
Agricultural development in Somalia—an important commercial centre in antiquity that in 1991 became stateless and suffered more than two decades of conflict and, more recently, devastating drought—is back.
[Somalia] USAID announces $257 million in humanitarian aid
The U.S. Government is providing nearly $257 million in additional humanitarian assistance in Fiscal Year (FY) 2019 to help the people of the Federal Republic of Somalia in Mogadishu.
Netherlands donates $28 million to build more resilient food systems in Somalia, South Sudan and Sudan
The Kingdom of the Netherlands has contributed $28 million to back FAO's work to boost the resilience of food systems in Somalia, Sudan, and South Sudan.
Finland contributes additional funds to Somalia Multi-Partner Fund
The Ministry for Foreign Affairs of Finland has made an additional contribution of EUR 8.1 million ($8.9 million) to the Somalia Multi-Partner Trust Fund (MPF), administered by the World Bank.
United Nations and World Bank Group call for sustained funding to relieve suffering in Somalia
Under-Secretary-General (USG) for Humanitarian Affairs and Emergency Relief Coordinator Mark Lowcock has called for sustained funding to protect recent gains made in beating back hunger in Somalia.
Hyundai ventures into Somaliland
South Korean car manufacturer Hyundai is the latest multinational company to venture into the Horn of Africa via Somaliland.
[Somalia] Boosting education outcomes is critical for sustained and inclusive growth, World Bank
Improving education outcomes of the younger generation is key for enhancing productivity, sustaining economic recovery, boosting inclusive growth and promoting poverty reduction in Somalia.
FAO warns of Desert Locust outbreaks in Yemen and the Horn of Africa
Desert Locust summer breeding, amplified by heavy rains, can pose a serious threat to agricultural production areas of Yemen, Sudan, Eritrea and parts of Ethiopia and northern Somalia during the next three months, FAO warns.
Ethiopian Airlines to launch flight to Garowe, Somalia
Ethiopian Airlines Group will launch its flight to Garowe, Somalia, via Bossaso, Somalia effective 15 July 2019.
UK invests in renewable energy in Somaliland to address high costs of electricity
The UK-funded Energy Security and Resource Efficiency in Somaliland (ESRES) programme is giving more people across Somaliland access to affordable, clean and renewable energy.
AfDB Multi-Partner Somalia Infrastructure Fund to receive €1 million from Italy
The Italian Government has signed an agreement for an additional €1 million contribution to the AfDB Multi-Partner Somalia Infrastructure Fund.
Somalia launches national micronutrient survey
The Ministry of Health and Human services of the Federal Government of Somalia has launched the Somali National Micronutrient Survey together with UNICEF.
Somalia seeks to invest in COMESA region
Charge d’Affaires at the Embassy of Somalia in Lusaka, Mr Ahmed Abdirahman Sheikh Nur has revealed that the his country is looking for areas to invest in within the COMESA region.
Ethiopian Airlines to restart service to Mogadishu
Ethiopian Airlines has announced that the airline will resume its flight to Mogadishu, Somalia, effective November 2, 2018.
DP begins construction of Berbera port in Somaliland
Construction work on the development of the multi-purpose Berbera port in the Republic of Somaliland has started with a special ground-breaking ceremony to mark the occasion.
Vibrant mobile money market drives Somalia’s economy
Somalia’s economy is projected to grow at an annual rate of 3–4 percent, according to the third Somalia Economic Update (SEU) published by the World Bank.
World Bank launches $9 million infrastructure project in Somalia
The Federal Government of Somalia and the World Bank have launched the flagship infrastructure project in Somalia.
Somalia, Eritrea and Ethiopia seek economic integration
The president of the Federal Republic of Somalia Mohamed Abdullahi Farmajo is leading efforts to consolidate gains made at the Forum on China-Africa Cooperation by facilitating the prospect of a tripartite agreement.
Tunisia, Somalia join COMESA
The membership COMESA has risen to 21 following the admission of Tunisia and Somalia at the 20th Summit of the Heads of State and Government in Lusaka, Zambia.
Italy commits $1.2 million to the Somalia Infrastructure Fund
The African Development Bank has participated in a signing ceremony that occasioned Italy’s contribution of €1 million to the Somalia Infrastructure Fund.
Somalia bans the export of charcoal
Somalia calls for international cooperation to stop the illegal charcoal trade. Over 80 percent of charcoal produced in Somalia is exported to the Gulf States and neighbouring countries.
Mogadishu Hosts International Conference to Stop Illegal Charcoal Trade
8.2 million trees were cut down for charcoal in Somalia between 2011 and 2017, increasing land degradation and food insecurity. Illegal trade in charcoal acts as a major source of funding for militias and terrorist groups such as Al Shabaab, who illegally tax exports.
Somalia targets girls in new ICT initiative
Somalia has celebrated this year’s Girls in ICT day with the launch of an initiative to create gender parity in Somalia’s ICT industry.
African Development Bank launches “Say No to Famine” project in Somalia
The African Development Bank has launched the Say No to Famine – Short-Term Regional Emergency Response Project, STRERP, for Somalia.
Somaliland among the first beneficiaries of the 50 Clean Energy Projects initiative by ImpactPPA and Earth Day Network
Decentralized renewable energy company ImpactPPA and Earth Day Network have announced an initiative to install clean energy systems at 50 facilities by 2020.
Germany invests $32 million towards urban resilience in Somalia
The German Government announced its commitment of EUR 23.4 million to support infrastructure work in Somalia.
Central Bank of Somalia and Somali Financial Institutions work to modernize banking sector
The Central Bank of Somalia and Somali Financial Institutions are taking crucial steps to modernize national payments systems.
Dalkom Somalia launches iDirect Network to expand satellite connectivity in Somalia
VT iDirect, Inc.a company of Vision Technologies Systems, Inc. has announced that Dalkom Somalia has installed an iDirect Hub and will leverage iDirect’s series remotes to provide high-speed satellite connectivity in Somalia.
Somali regains control of its airspace after 27 years
The federal government of Somalia officially has taken over the control of its airspace and launched the opening ceremony of the airspace control tower at Aden Abdulle International Airport in Mogadishu last Thursday.
Mazda Southern Africa launches Mazda Foundation
Mazda Southern Africa has launched the Mazda Southern Africa Foundation Non Profit Company.
AfDB and IsDB partner to boost agriculture and fight drought in Nigeria, Somalia and Uganda
A joint initiative of the African Development Bank (AfDB) and the Islamic Development Bank (IsDB) will boost agriculture value chains and enhance drought resilience in Nigeria, Somalia and Uganda.
Tanzania, Djibouti, Somali among new destinations for Emirates and flydubai
Building on the success of the initial phase of their partnership, Emirates and flydubai have announced 16 additional destinations to which Emirates’ passengers will be able travel on a single ticket.
Somali Accelerator graduates cohort of startups, gives $30,000 in investment at Demo Day
Innovate Ventures, the Somali tech and business startup accelerator launched in partnership with VC4A, Telesom and the Work in Progress! Alliance, had their second cohort of 10 startups from Somaliland and Somalia graduate from their programme.
DP World to develop economic free zone in Somaliland
Global trade enabler DP World will develop a greenfield economic free zone in Somaliland to complement the development of the Port of Berbera, which has seen record container volumes under DP World management.
Somaliland launches flagship job creation programme
Authorities in Somaliland, along with the World Bank, have launched the first round of funding in the Bank’s flagship job creation program, the Somali Business Catalytic Fund (SBCF).
Leonardo forays into Africa with provision of air traffic control systems in Somalia and Sudan
Global aviation technology company Leonardo has strengthened its presence in Africa in the field of air traffic control with the signing of two agreements to provide ATC systems in Somalia and Sudan.
World Bank launches Somali poverty profile, first comprehensive snapshot of welfare conditions
World Bank has launched a comprehensive analysis of the welfare conditions of the Somali population
Janus Global Operations to provide security for EU agency building Somalia maritime security
Janus Global Operations has been selected to provide risk management and security for the European Union organization working to help build maritime civilian law enforcement in Somalia.
UNDP bets on solar lanterns to light up Somali businesses and homes
The United Nations Development Programme (UNDP) has handed over 600 solar powered lanterns to Somalia’s Federal Ministry for Humanitarian Affairs and Disaster Management.
Somalia approves the National Communications Act
The Upper House of Somalia's parliament has passed the National Communications Act, which was earlier passed by the National Assembly on August 9, 2017.
[Somalia] Electro Power Systems integrate wind energy to existing microgrid to meet growing power demand
Extension of microgrids in Somalia’s north eastern town of Garowe is currently on-line, Electro Power Systems S.A, technology pioneer in energy storage systems and microgrids, has said.
Somalia economy projected to grow at of 5-7% over medium term
Somalia’s economy is projected to grow at a steady, nominal annual rate of 5% to 7% over the medium-term, according to the second Somalia Economic Update to be published by the World Bank Group. "
COLUMNS.
[Column] Andrew Ihsaan Gasnolar: The need for positive regulation in the ride-hailing industry
Kenya's ride-hailing industry has rapidly transformed into a thriving ecosystem, attracting both entrepreneurs and enabling residents ...read full column here
[Column] Christopher Sau: Plugging Kenya’s brain drain: Unlocking the value of training and IT talent retention
Enterprises have much to gain by investing in their people and exploring talent-building and upskilling strategies ...read full column here
[Column] NJ Ayuk: Oil market predictions and what they mean for Africa
Of course, the oil market is nothing if not volatile, but few eras match the last several years for dramatic ups and downs ...read full column here
INTERVIEWS.
[Interview] Oluwole Eweje, CEO-WATT Renewables Corporation
We provide sustainability for communities, especially communities that have very few businesses … read full interview here
[Interview] Kenneth Njeru, Director of Africa Afya Healthcare
I had an interest in investing and I identified industries that were great and also brought change to the community, healthcare and Information Technology … read full interview here
[Interview] Yvonne Nelson, Actress and Entrepreneur, Ghana
Yvonne Nelson is a renowned Ghanaian actress and producer who has led a life filled with significant moments that illuminate her remarkable characteristics as a human being… read full interview here
B2B Events
[EVENT] Unlocking Success in New Markets: Cross-Border Payments Strategies for South African Businesses
Join us for this event on Thursday 30th November ... read more and register