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.
It joins Kenya, Burundi, the Democratic Republic of the Congo, Rwanda, South Sudan, Uganda and Tanzania in the bloc.
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, 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.
Adan Abbey is the President of Horn of Africa Insurance that serves the Somaliland and Somalia market.
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.
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.
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.
The World Bank has appointed Mr. Keith Hansen as the new Country Director for Kenya, Rwanda, Somalia, and Uganda effective September 8, 2020.
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.
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 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.
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.
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.
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.
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 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.
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.
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.
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, 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.
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 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.
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.
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.
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 $8.5 million grant facility to support renewable energy startups in Somalia and Somaliland.
IFC, a member of the World Bank Group, has signed its first formal agreements with the Federal Government of Somalia to support the country's goal to strengthen its private sector, attract investment, improve public services, and create jobs.
The European Union has approved an additional €17.2 million through the EU Emergency Trust Fund for Africa (EUTF) to support coronavirus preparedness in Somalia, Sudan and South Sudan.
The Government of Canada has provided CAD$ 11 million to support the Government of Somalia, through UNFPA, on a new initiative on Strengthening Sexual and Reproductive Health and Rights.
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.
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.
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, the global online money transfer service has announced the launch of its remittance services in Somalia.
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.
The World Bank Board of Directors has approved a $55 million International Development Assistance (IDA) grant to support Somalia’s economic recovery.
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.
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 International, together with over 100 NGOs, activists, and academics, raised an alarm regarding the plummeting Somali remittances amid the COVID-19 crisis.
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.
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.
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.
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.
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 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.
The World Bank Group Board of Executive Directors has moved toward normalizing its relations with the Federal Government of Somalia (FGS) after thirty years.
The World Bank Group Board of Executive Directors moved toward normalizing its relations with the Federal Government of Somalia (FGS) after thirty years.
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.
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.
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.
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 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.
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.
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.
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.
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.
South Korean car manufacturer Hyundai is the latest multinational company to venture into the Horn of Africa via Somaliland.
Improving education outcomes of the younger generation is key for enhancing productivity, sustaining economic recovery, boosting inclusive growth and promoting poverty reduction in Somalia.
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 Group will launch its flight to Garowe, Somalia, via Bossaso, Somalia effective 15 July 2019.
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.
The Italian Government has signed an agreement for an additional €1 million contribution to the AfDB Multi-Partner Somalia Infrastructure Fund.
The Ministry of Health and Human services of the Federal Government of Somalia has launched the Somali National Micronutrient Survey together with UNICEF.
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 has announced that the airline will resume its flight to Mogadishu, Somalia, effective November 2, 2018.
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.
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.
The Federal Government of Somalia and the World Bank have launched the flagship infrastructure project in Somalia.
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.
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.
The African Development Bank has participated in a signing ceremony that occasioned Italy’s contribution of €1 million to the Somalia Infrastructure Fund.
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.
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 has celebrated this year’s Girls in ICT day with the launch of an initiative to create gender parity in Somalia’s ICT industry.
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.
The German Government announced its commitment of EUR 23.4 million to support infrastructure work in Somalia.
The Central Bank of Somalia and Somali Financial Institutions are taking crucial steps to modernize national payments systems.
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.
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 has launched the Mazda Southern Africa Foundation Non Profit Company.
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.
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.
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.
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.
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).
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 has launched a comprehensive analysis of the welfare conditions of the Somali population
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.
The United Nations Development Programme (UNDP) has handed over 600 solar powered lanterns to Somalia’s Federal Ministry for Humanitarian Affairs and Disaster Management.
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’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. "