Fertilizer Ban in Somalia
The Somalia Investor Magazine
by Somalia Investor
1M ago
Agriculture is the foundation of Somalia’s economy and culture, providing livelihoods for over 70% of the population. The sector faces significant challenges but also harbours great potential if the right policies and support are implemented. Historically, Somalia was nearly self-sufficient in cereal production. But decades of conflict have degraded soils, infrastructure, and technical capacity within the agricultural sector. Yields for rain-fed crops remain dangerously low given poor agricultural practices and lack of drought-resilient varieties. At the same time, population growth and clima ..read more
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Somalia: Devastating Flash Floods Leave Children at Risk in Humanitarian Crisis
The Somalia Investor Magazine
by Somalia Investor
11M ago
Somalia is reeling from the devastating impact of flash floods caused by heavy rainfall. These catastrophic floods have not only claimed the lives of 22 people but have also left the most vulnerable section of the population—the children—at increased risk of malnutrition and disease outbreaks. Save the Children, a prominent global charity has sounded the alarm on the dire situation unfolding in the country. According to Save the Children’s latest report, the flash floods have resulted in the displacement of approximately 118,000 children and 101,000 adults, leaving them homeless and in urgent ..read more
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IRC Warns of Impending Global Food Crisis: Urges Extension of Black Sea Grain Deal
The Somalia Investor Magazine
by Somalia Investor
1y ago
In a time of record food insecurity affecting 349 million people across 79 countries, the International Rescue Committee (IRC) has issued a warning about the impending expiration of the Black Sea grain deal, emphasizing the potential for further instability in the food market. With Ukrainian and Russian grain accounting for up to 90% of imports in East African countries grappling with a food security crisis, extending the Black Sea Grain Initiative becomes imperative. Since its inception, the Black Sea Grain Initiative has played a vital role in restarting shipments of Ukrainian and Russian g ..read more
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UN reports extensive flooding damage in central Somalia
The Somalia Investor Magazine
by Somalia Investor
1y ago
Floods caused by the annual rains have left “a trail of destruction” across Somalia, a United Nations spokesman said, citing inundated homes and farmland as well as the shutdown of health facilities. “According to early estimates by our partners, more than 460,000 people have been impacted, including nearly 219,000 men, women, and children who have been displaced due to this (flooding),” Stephane Dujarric said in a statement. At least five people, including three children, have been killed in the flooding, Mohamed Moalim of the Somalia National Disaster Management Agency told The Associated P ..read more
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Kenya Reopens Border with Somalia, Ending 12-Year Barricade
The Somalia Investor Magazine
by Somalia Investor
1y ago
In a significant development for Somalia and Kenya, the long-awaited reopening of the border between the two nations has been officially announced. The decision, which comes after extensive consultations between high-level officials, signifies a major milestone in regional cooperation. The reopening of border points in Mandera, Lamu, and Garissa marks the end of a 12-year closure that began during Kenya’s Operation Linda Nchi, aimed at combatting the influx of Al-Shabaab militants. Kenya’s Interior Cabinet Secretary, Prof Kithure Kindiki, and his Somali counterpart, Mohamed Ahmed Sheikh, join ..read more
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IMF and Senegal Forge $1.85 Billion Deal to Boost Economy and Tackle Climate Change
The Somalia Investor Magazine
by Somalia Investor
1y ago
The International Monetary Fund (IMF) and Senegalese authorities have reached a staff-level agreement on economic and financial policies, paving the way for a new financing arrangement. The agreement includes a 36-month Extended Fund Facility (EFF) and Extended Credit Facility (ECF) with access to approximately US$1.526 billion. Additionally, Senegal will receive support from the Resilience and Sustainability Facility (RSF) amounting to around US$327.1 million. The agreement is subject to approval by IMF Management and consideration by the Executive Board, scheduled for mid-June 2023. The pol ..read more
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UN Launches Sustainable Development Projects in Somalia and Beyond with Japan’s Support
The Somalia Investor Magazine
by Somalia Investor
1y ago
The United Nations Industrial Development Organization (UNIDO) has launched five new projects in Iraq, Somalia, South Sudan, the State of Palestine, and Ukraine, with the support of US$3 million in funding from Japan’s supplementary budget. The projects aim to provide urgent support for inclusive and sustainable industrial development in these partner countries. At a kick-off event held at the Vienna International Centre, UNIDO’s Director-General, Gerd Müller, and Ambassador Takeshi Hikihara, Permanent Representative of Japan to the International Organizations in Vienna, along with representa ..read more
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UNHRC Expands Mandate to Monitor Human Rights Violations in Sudan Conflict
The Somalia Investor Magazine
by Somalia Investor
1y ago
The United Nations Human Rights Council(UNHRC) wrapped up its thirty-sixth special session on Thursday, May 11, with a significant decision concerning the ongoing conflict in Sudan. A resolution was adopted, expanding the mandate of the designated Expert of the High Commissioner on human rights in Sudan. The resolution called for detailed monitoring, documentation, and reporting on all allegations of human rights violations and abuses since October 25, 2021, including those directly linked to the current conflict. With 18 in favor, 15 against, and 14 abstentions, the resolution (A/HRC/36/L.1 ..read more
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South Africa accused of providing arms to Russia
The Somalia Investor Magazine
by Somalia Investor
1y ago
The US ambassador to South Africa has accused the country of providing weapons and ammunition to Russia for its war in Ukraine via a cargo ship that docked secretly at a naval base near Cape Town for three days in December. Ambassador Reuben Brigety said the US was certain the equipment was loaded onto the Russian vessel at the Simon’s Town naval base and then transported to Russia, according to reports of his comments from multiple South African news outlets. The ambassador said the alleged arming of Russia was “extremely serious” and called into question South Africa’s supposed neutral ..read more
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Kenya’s Safaricom Makes History as First Foreign Telecom to Launch Mobile Money in Ethiopia
The Somalia Investor Magazine
by Somalia Investor
1y ago
In a historic move, the National Bank of Ethiopia has issued a license to Kenya’s telecom giant Safaricom to operate mobile money services in Ethiopia. This marks the first time a foreign firm has received such a permit in the country, which has a population of over 110 million people. Safaricom launched its operations in Ethiopia last year after the country opened its market to international bidders. Until then, state-owned Ethio Telecom had been the sole provider of telecom and mobile money services in Ethiopia, one of the largest closed markets in Africa. The granting of the license reflec ..read more
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