Somalia News News Somalia » Economy: Somalia to export fish to China under tariff-free deal
Somalia will begin fish exports to China from next month under a tariff-free arrangement that has been dangled to other African countries to improve trade balance with Beijing. The deal was firmed up ...
News Somalia » Economy: Empowering Somalia’s economy beyond remittances for long-term stability
When Somalia reached the HIPC (Heavily Indebted Poor Countries) completion point recently, it marked a transformative milestone—a moment that inspired us to explore Somalia’s economic landscape ...
News Somalia » Economy: Somalia, Türkiye discuss cooperation on fisheries and blue economy
Somalia and Türkiye have discussed strengthening cooperation in fisheries and the blue economy, with a focus on developing the Horn of Africa country's marine resources and attracting ...
News Somalia » Economy: Somalia's Economic Reset: Why the African Development Bank Is Betting on Private Capital
Somalia’s push to reduce aid dependence is shifting attention toward private investment, stronger development banks and financing for small businesses. With the African Development Bank backing this ...
News Somalia » Economy: How Oil Could Rewrite Somalia’s Political Economy – OpEd
The pursuit of offshore hydrocarbons in the Horn is a high-stakes geological poker game, and Türkiye’s state-owned Turkish Petroleum Corporation (TPAO) has just pushed its chips to the middle of the ...
News Somalia » Economy: USAID Cuts Had 'Severe Impact' on Somalia's Economy, Says Development Bank Chief
LONDON (Reuters) -The closure of the U.S. Agency for International Development earlier this year hit Somalia's economy and tax revenues, the head of the country's development bank said on Tuesday. "In ...
News Somalia » Economy: Somalia's diaspora is known for economy, but now they could play political role
EDITORIAL - Somalia’s journey from state collapse in 1991 to revival, argued Finance Minister Abdirahman Duale Beileh at a recent forum in November, is routinely associated with negativity: Refugees, ...
News Somalia » Economy: Somalia Faces Economic Strain as Hormuz Disruptions Cut Customs Revenue by 40%
MOGADISHU, Somalia — Somalia’s domestic revenue from customs duties has fallen by about 40% as disruptions in the Strait of Hormuz affected trade and increased import costs, term-ended President ...
News Somalia » Economy: Somalia banks on infrastructure to power economic growth, job creation
Somalia President Hassan Sheikh Mohamud on Thursday inaugurated a series of landmark development projects in Jowhar. [Courtesy, Villa Somalia] Somalia President Hassan Sheikh Mohamud is banking on a ...
News Somalia » Economy: Somalia Economic Update: Reforming Somalia’s Security Sector: A Pathway to Increased Investment in Development Initiatives
The latest Somalia Economic Update examines ongoing government-led security sector reforms and suggests economic policy options for securing Somalia sustainably Somalia’s security sector accounts for ...