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.
Djibouti Telecom, Somtel, Telkom Kenya and SubCom have announced the landing of the Djibouti Africa Regional Express 1 (DARE1) submarine cable system at La Siesta Beach – Djibouti.
Somalia's telecom market has been sustained despite tremendous difficulties.
Djibouti Telecom, Somtel, Telkom Kenya and SubCom have announced that all manufacturing aspects for the Djibouti Africa Regional Express 1 (DARE1) submarine cable system are complete.
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.
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.
Adan Abbey is the President of Horn of Africa Insurance that serves the Somaliland and Somalia market.
IBS Bank has today announced a partnership with Visa to deepen its payments services in Somalia by going live with its acquiring business on the Visa platform.
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.
A consortium of international bankers, Papersoft Africa, and Digital Transformation company iVEDiX have teamed up to launch a transformative blockchain and digital currency initiative.
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.
As part of his visit to China on the sidelines of the FOCAC Summit, President of the Federal Republic of Somalia H.E Mohamed Abdullahi Farmajo visited Huawei's Beijing Executive Briefing Center and met with Yi Xiang, Senior Vice President at Huawei.
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.
Ministry of Post, Telecom and Technology is facilitating the establishment of Somalia’s first Internet Exchange Point in Mogadishu.
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. "
African Property Group is launching eight new websites in emerging African nations that will allow the populations to search for properties, using their computers or mobile phones.
Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC) has announced that Hargeisa will be the newest African destination added to its growing international network.
The Somali government and high level business actors have endorsed a Public-Private Cooperation Agreement to Accelerate Somalia’s Economic Recovery.
Global trade enabler DP World has celebrated its 30-year port concession for the management and development of a multipurpose port project at Berbera, Republic of Somaliland which started on 2 March 2017.
Innovate Ventures is running for a second year their highly successful tech start-up accelerator – The Innovate Accelerator.
New carrier Djibouti Shipping Lines (DSL) is planning to launch a container shuttle service in April connecting Djibouti to Berbera (Somaliland), according to reports.
[Somaliland] Africa Water Facility sinks $3.2 million to build climate change resilience and reduce water stress
The African Water Facility (AWF) has held a launching ceremony and workshop to officially kick-start the Water Resources Management and Investment Plan project for Somaliland.