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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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Lady tuk tuk driver making a living in men dominated industry
Asho Ahmed Nur, 37, is the only woman driving a tuk-tuk taxi in Burao city in Somaliland. Although this has offered her a living, it has also presented unique challenges for her as it is known to be men’s work. “When I get to the taxi stand and the other…
Somaliland seeks increased Ethiopian investments
Somaliland seeks increased Ethiopian investments in the fishery, agriculture, and logistics sectors as Hargeisa craves boosted trade ties with its gigantic neighbor. Having a strategic location, easy access to the sea, and untapped natural resources, Somaliland expects more Ethiopian FDI following the recent sea deal between the two sides. “We…
Salaam Somali Bank solidify its growth in Somalia banking sector
Salaam Somali Bank (SSB), headquartered in Mogadishu, Somalia's capital, stands as the country's oldest private financial institution. Since its establishment, SSB has significantly influenced the financial landscape of Somalia, offering a broad array of services including corporate, community, business, personal and investment banking. SSB boasts the most extensive banking network…
DP World would be the winner if Somaliland-Ethiopia MOU sails through
By Gavin van Marle Everywhere you look across supply chains, one geopolitical play after another is forcing hands, calling bluffs, always bringing consequences, intended or otherwise. The latest is the signing of an MoU between Ethiopia and Somaliland, essentially exchanging official recognition of the latter as an independent state in…
Berbera Port emerges as an option for established ports in the Horn of Africa
As Kenya’s neighbors forge ahead with the expansion and modernization of their port infrastructure, the country risks losing its place as the regional logistics hub because of the ascendance of political considerations over economic interests. The Port of Mombasa was lucky to survive the mistakes that had been made in…
Debt relief clears Somalia’s pathway into new credit, trade to reverse 30-year slump
Somalia is banking on new opportunities coming out of recent debt relief to seek new credit lines and open up for trade. And in spite of security challenges and ongoing state rebuilding, Somalia’s Ambassador to Kenya Jabril Ibrahim Abdulle says Somalia is yearning to play a big role in region…