DEVELOPMENT

BOSSASO (SOHA) – Somalia’s semi-autonomous Puntland region on Friday unveiled a $40 million project for a rickety port’s reconstruction plan aimed at benefiting communities in the country’s northeastern part amid a new battle for foreign investment projects in the region stirred by UAE’s port investment in the neighboring breakaway territory of …

MOGADISHU (SOHA) – The Norwegian investment fund for developing countries (Norfund) has set up a $10 million kitty to support small businesses in Somalia. Norfund, together with the Danish investment fund for developing countries (IFU) and Shuraako, an arm of One Earth Future (OEF), have set up the Nordic Horn …

MOGADISHU (SOHA) –  The highest denomination of banknotes will be 10,000 and 5,000 Somali Shilling note, the Country’s Central Bank confirmed on Tuesday. The country’s old currency has almost disappeared or is worn out and was replaced by U.S. dollars or counterfeit notes. The Somali Shilling not been printing since …

BELEDWEYNE (SOHA) – Hirshabelle state plans to build a dam to avert floods from River Shabelle in Beledweyne town amid thousands were displaced by heavy floods. Last month, 90% of Beledweyne residents were displaced by floods after River Shabelle breached its banks. In an interview with Hiiraan Online, Hirshabelle President, …

KISMAYO (SOHA) – The authorities of the jubaland state of somalia in partnership with Adeso has launched a new project in the lower juba region. The initiative, which will run over a period of 12 months aims to enhance youth employment and economic development through engaging government and private sector …

Diaspora groups – migrants, refugees and their descendants – are important development actors in countries affected by protracted conflict and poverty. Their assistance ranges from remittances to disaster relief and development projects, providing a lifeline in crisis and contributing to long-term processes of change. Somali-Swedish engagement is a case in …