DEVELOPMENT

MOGADISHU — Salaam Somali Bank which is a privately owned bank continues to contribute to Somalia’s economic growth by providing free microfinance funds to develop small businesses. On Sunday, Nov 21, the Bank’s HQs in the Bakaro market provided funds to the local traders in Mogadishu, who were in dire …

BERBERA  — Dubai Ports Company DP World and the UK’s CDC are investing $ 1.7 billion in Africa’s infrastructure. The investment will modernize three DP World-run ports: Ain Sokhna in Egypt, Dakar in Senegal and Berbera in Somalia, according to the CDC. The joint investment will be expanded to other …

MOGADISHU — Coinciding with the International Day of Peace, a group of Somali students today graduated with master’s degrees in subjects with special relevance to peacebuilding in Somalia – and were encouraged to channel their learning towards the betterment of their country. “The degree certificate I have received today is …

MOGADISHU — To facilitate cross-border trade and provide more transparent trade information for businesses, Somalia’s Ministry of Commerce and Industry, supported by IFC, today launched a trade information portal to lower costs and simplify trade procedures for Somali importers and exporters. The portal, found at www.stip.gov.co, provides a single source …

MOGADISHU — Today marks the International Day of Micro, Small and Medium Enterprises (MSMEs). Small businesses led by women and young entrepreneurs continue to face the pandemic’s wrath economically. Lockdown measures implemented to prevent the spread of the COVID-19 virus have wreaked havoc on supply chains and resulted in a significant …

MOGADISHU — The European Union today hosted a groundbreaking ceremony to launch the Berbera Beach Development project, part of an EU-funded urban development project launched in 2020. Part of the Beach to be carried out in the coming years by Berbera and UN-Habitat. Seven months will focus mainly on inclusion …

MOGADISHU —  The EU on Tuesday launched three new projects worth €11.8 million ($14.3 million) to support the private sector in Somalia. The projects will significantly step up the EU’s engagement in Somalia as the new partnership will enable financial institutions to successfully provide relevant financing to local small- and …

MOGADISHU — Somalia’s private sector got a boost Sunday following a formal pact between the government and the World Bank’s investment division, IFC. The agreement which is a first with the World Bank body aims at supporting investment and growth in the private sector. The sector which forms the plank …

MOGADISHU — Muslima Abdirahman, a Somali mother of nine, escaped death twice in the past two years while shopping for groceries in Mogadishu, where Islamist insurgents regularly carry out suicide bombings on busy streets and markets. She shudders at the memories: “I wiped my tears with my veil and went …

HARGEISA — Somaliland President Muse Bihi Abdi has accused the United Nations of taking orders from the Somali government and are engaging in regional politics. Speaking at the Kulmiye party’s central committee meeting, which opened today, Muse Bihi said UN envoy to Somalia James Swan does not represent Somaliland, but …