Addis Abeba– World Bank Group President David Malpass met with Ahmed Shide, Minister of Finance of Ethiopia. In his conversation with Minister Shide, President Malpass discussed the progress achieved by Ethiopian authorities in the implementation of the November 2022 peace agreement. President Malpass encouraged further steps toward durable peace and prosperity for all Ethiopians. President...
The world economy is expected to grow less than 3 percent this year, down from 3.4 percent last year, increasing the risk of hunger and poverty globally, the head of the International Monetary Fund (IMF) has said. Kristalina Georgieva said on Thursday that growth is expected to remain about 3 percent for the next five...
The National Communications Authority (NCA) has announced that six Somali mobile operators have completed the interconnection of their networks to allow end users to call each other seamlessly across different telecoms networks. The regulator said the move will promote competition, improve connectivity and drive innovation in the industry, leading to better pricing and service offerings...
Faqrati Tamru, the vice-chair of the Renaissance Dam Coordinating Council, added that Ethiopia still faced diplomatic pressure from Egypt over how the dam might affect Nile water levels downstream. Shortly before the announcement, Hani Sewilam, Egypt’s water minister, said the project could damage Egypt’s social and economic stability. He also stressed his country’s commitment to joint cooperation....
Ethiopia and Djibouti reached an agreement (23 March 2023) on the completion of a road that links the two countries. The 35 kilometer road between Galamo and Moloud will enable the smooth circulation of vehicles and cargo, enhancing transportation between the two countries. The agreement ensures that the Galamo-Moloud road will be completed within a...
Somalia will be eligible for full debt relief from the International Monetary Fund (IMF) and other multilateral lenders by the end of this year as reforms to boost revenue collection and fiscal transparency begin to bear fruit, the lender has said. Somalia reached the decision point for IMF debt relief under the Heavily Indebted Poor...
Leaders from Kenya Kwanza government have urged opposition leader Raila Odinga to call off weekly demonstrations, saying if not stopped they will hurt the tourism sector. Led by Tourism CS Peninah Malonzo, Narok Governor Patrick ole Ntutu and three MPs, they said the effects of demonstrations are being felt as some tourists have cancelled their...
M-Pesa will control all its global service operations from Kenya even as the tech giants eye expansion into more markets. This is after M-Pesa Africa launched a Shared Service Operations Centre (SSOC) in Nairobi that will oversee service operations and technical support. Safaricom earned Sh107.7 billion from its M-PESA operations in Kenya in 2022. The SSOC will...
By Evan Ramstad Basim Sabri walks around Karmel Plaza, his mall in south Minneapolis where hundreds of Somali-Minnesotans run shops or restaurants. He’s solicitous and deferential to the older women, some in their 90s, who own shops. He jokes around with the younger ones, including the twenty-somethings promoting their latest merchandise on video livestreams. The...
Dr. Abdurahman Baadiyow Somalia is aspiring to become a permanent member of the East African Community (EAC), which is the regional intergovernmental organization that includes Kenya, Uganda, Tanzania, Rwanda, Burundi, South Sudan, and the Democratic Republic of the Congo. EAC is not only a community of states but also a community of non-state actors (civil...