The Business beat.
Coverage of the companies, entrepreneurs, and sectors that affect Somalia’s economy
Regulator convenes first submarine cable working group to bolster broadband
The National Communications Authority (NCA) opened the country's first technical working group on submarine cable landings on Sunday
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Somalia’s Mining Ambitions Draw Azerbaijani Interest
Azerbaijan’s state-owned mining company, AzerGold, opened discussions with the Somali Development and Reconstruction Bank (SDRB) on June 18 over potential cooperation in mineral exploration, financing and technical development, in what
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Hormuud moves into smartphone financing
A new interest-free financing plan from Hormuud Telecom and Get-Phone lets low-income Somalis buy their first smartphones in small daily instalments, on better terms than similar schemes elsewhere in
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Mogadishu Port Authority signs deal with Turkish shipping line
A new direct shipping route between Türkiye and Somalia has opened after Turkish carrier Akkon Lines and the Mogadishu Port Authority signed an agreement to begin regular cargo services between the two
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Somalia to open competitive bidding for oil blocks by year-end
Somalia's Ministry of Petroleum and Mineral Resources has announced it will open competitive bidding for the country's oil blocks by year's end, the ministry's
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Somalia's banks, between recovery and fragility
The Somali central bank today licenses fifteen commercial banks, fourteen domestic and one foreign, alongside a newly regulated tier of microfinance institutions. A country that had no formal banking sector at all
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A new passport, and what it changes for Somalis
Two years into the East African Community, the returns to Somalia look modest, and lopsided. The economic gains many in Somalia expected from joining the EAC have been slow to arrive, and
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