Shocking CCTV footage and passport records have implicated two Georgian nationals in a daring heist inside Hargeisa’s gold market, whereby 340 grams of gold — valued at approximately US $42,000 — was allegedly stolen from a 75-year-old Somali grandmother. The victim, described locally as a grandmother who had invested much of her modest life savings in the...
Addis Abeba – A new joint World Bank–IMF assessment has delivered a stark warning on Ethiopia’s economic outlook, declaring the country’s external debt “unsustainable” and confirming that the government is already in debt distress. The report, approved by senior officials from both institutions, said: “Ethiopia’s debt is assessed to be unsustainable, mainly due to protracted breaches...
SINGAPORE (Reuters) – Oil prices inched up on Monday supported by geopolitical tension in Europe and the Middle East, although the prospect of more oil supply and concern about the impact of trade tariffs on global fuel demand weighed. Brent crude futures rose 28 cents, or 0.42%, to $66.96 a barrel by 0118 GMT while...
MULANJE, Malawi (AP) — Alex Maere survived the destruction of Cyclone Freddy when it tore through southern Malawi in 2023. His farm didn’t. The 59-year-old saw decades of work disappear with the precious soil that the floods stripped from his small-scale farm in the foothills of Mount Mulanje. He was used to producing a healthy 850 kilograms...
ADDIS ABABA, Ethiopia (AP) — Fanuse Adete is among those Ethiopians looking forward to finally getting connected to the national electricity grid when the Grand Renaissance Dam, which will be inaugurated Tuesday, becomes fully operational. The 38-year-old widowed mother of seven, who lives in the Menabichu district just 10 kilometers (6 miles) outside the capital, Addis Ababa,...
(ERGO) – When her parents separated earlier this year, 23-year-old Laki Abdirahman Mohamed became the sole provider for her family in Hargeisa, Somaliland’s capital, taking responsibility for her eight younger siblings. Laki was forced to drop out in her second year of secondary education when her father stopped supporting the family. To keep her household afloat,...
Nairobi (WDN) –– A devastating fire swept through the Somali neighborhood of Islii in Nairobi on Saturday afternoon destroying property and causing significant losses to local business owners. Islii, one of the city’s largest commercial hubs for the Somali community, is known for its bustling marketplaces and vibrant trade activity. The fire broke out at...
(ERGO) – Mother-of-eight Hamdi Abdullahi Ibrahim is living in fear of being thrown in jail if she doesn’t clear the debts she has incurred running her small shop in an internal displacement camp in Galgadud, central Somalia. Many other women in the camp where she lives near Adado speak of experiencing jail terms because they got...
By Mohamed Ibrahim Somalia’s banking sector is undergoing a quiet transformation, potentially marking one of the Horn of Africa’s most ambitious financial overhauls. Over the past decade, the country has made strides in rebuilding its banking institutions, embracing digital innovation, and introducing long-awaited reforms. But alongside this progress lies a stark reality – liquidity constraints,...
By Thoraya Abdullahi, The National News With a rise in investments, the port is emerging as a feasible alternative to current trading hubs in Africa such as Djibouti, experts say. While Houthi attacks in the Red Sea pose a clear and present danger to the vital trade artery and the rising port congestion in the region throws...