Bosaso (WDN) A cargo vessel caught fire in the Strait of Hormuz after being struck by a missile or an unidentified object, according to the UK Maritime Trade Operations (UKMTO), raising fresh concerns over the security of one of the world’s most critical maritime chokepoints. Somali traders confirmed that the vessel, identified as SKY Quba,...
President vows accountability as the liquidation of 130 investment funds exposes ties to Turkey’s ruling elite A crisis involving Turkish investment funds accused of running Ponzi-like schemes has affected half a million people, with authorities ordering the liquidation of some 130 funds worth $17bn earlier this month. Already historic in scale, the financial turmoil has...
Debt Dispute Draws Demolition Crews, Security Forces and Crowds Seeking Building Materials Nairobi (WDN) — A routine-looking demolition operation in Nairobi’s Eastleigh district erupted into tension on Tuesday after Kenyan authorities moved against a Somali-owned multi-storey building, drawing security personnel and crowds seeking to remove materials from the site. The building, located along 11th Street,...
By Keynan Jama Every year, Somalis abroad send home more money than the federal government spends. In 2023, remittances reached about USD 1.7 billion—more than the federal budget that year and more than the USD 1.1 billion received by aid agencies. The 2025 federal budget was USD 1.34 billion. Remittances equal roughly one-sixth of Somalia’s...
Mogadishu-(WDN) — Somalia is exploring Libya as a potential new destination for its livestock exports, as the two countries seek to expand trade and deepen economic ties. But while the proposal offers an attractive new market on paper, security risks, the enormous maritime distance and the cost of transporting livestock through the Suez Canal could...
China on Monday said that its trade with Africa reached a record high in the first half of 2026, attributing the growth to its zero-tariff policy for all African countries that maintain diplomatic ties with Beijing. Chinese Foreign Ministry spokesperson Lin Jian said at a regular news conference that two-way trade totaled 1.41 trillion yuan...
Bosaso (WDN) – Just days after authorities announced a breakthrough in the long-running dispute over port charges at Bosaso Port, the controversy has unexpectedly flared up again, with traders accusing DP World of failing to implement the agreement that many believed had finally brought the crisis to an end. The renewed disagreement has come as...
Bosaso (WDN) – A wave of optimism swept across Puntland on Sunday morning as Bosaso Port and all commercial establishments officially reopened, bringing an end to days of disruption of the port operations and restoring the economic heartbeat of the region. The bustling port city quickly returned to life, with busy markets, crowded streets, and...
Arusha (WDN) – The East African Community (EAC) has reaffirmed its commitment to launching a single regional currency by 2031, marking a significant milestone in the bloc’s long-term vision of creating a more integrated and prosperous East Africa. The revised timeline comes after the original implementation schedule was delayed due to the economic disruptions caused...
Bosaso (WDN)– Puntland’s most important commercial hub has remained at a standstill, with port operations and business activities suspended after a dispute over increased port charges forced traders to halt operations. The shutdown has also sparked growing public protests across the coastal city of Bosaso, raising concerns about the broader economic impact on Puntland and...