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World Remit boss accuses Somaliland Central Bank of printing new shillings to devalue currency
The founder and chairman of World Remit, Ismail Ahmed, has accused the Central Bank of Somaliland of printing new Somaliland shillings and releasing electronic money into the market, which has caused the devaluation of the Somaliland shilling. In a Facebook post on September 23, the chairman of the International Money Transfer urged the Somaliland government to address the extreme devaluation…
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Hope for the return of Kenya miraa to Somalia
Miraa traders have expressed optimism that the regime change in Somalia on Sunday will revive trade relations with Kenya and salvage the dwindling fortunes of khat. Somalia closed access to its market for Kenya in 2020 following a political fallout. The ban led to a loss of more than 50…
Somalilanders’ remittance businesses thrive worldwide
Thirty years ago, Ismail Ahmed snuck from then war-ravaged Somaliland into neighbouring Djibouti, hidden on the back of a tipper truck. His brother, who was working in Saudi Arabia, sent him money to pay for a flight to London to take on a scholarship to study economics. “That’s when I…
Seeing clearly in Somaliland through SMART OPTICAL
Mubarik Caaqil is a 26-year-old Optometric doctor living in Hargeisa. In 2019, he graduated from the University of Hargeisa with a Bachelor’s degree in Optometric. Today, he is the founder of SMART OPTICAL Company, providing the latest optical service from quality brands. According to Mubarik “the blue cut-based lens is…
$ 23 million raised towards rebuilding Waheen market
A total of $23 000 000 has been raised so far for the rebuilding of Waheen market in Somaliland which was guttered by fire in early April, the president announced in his final state of the nation address in his ending term of office. The fire destroyed properties worth up…
Gun prices rise ahead of Somalia’s presidential elections
The price of an AK-47, the standard weapon of Somali militias, has soared on gun markets ahead of a fraught ballot this weekend, when lawmakers will select the country’s next president. Parliamentarians from Somalia’s lower and upper houses will decide on 15 May from a list of 39 candidates that…
Camel milk market in Somaliland growing as business activity
Camel milk is a critical product for both consumers and businesses in Somaliland, according to Agrilinks, an information platform part of the US government’s Feed the Future initiative. Traditionally used by pastoralist households for consumption or as a gift exchanged between friends or family, it’s played an important role in providing…