Business

The Transformative Impact of Kobac General Trading Company and Hassan Kobac Foundation: A Legacy of Excellence and Humanitarian Commitment in Somalia

In a nation striving for economic resurgence and social transformation, two institutions have emerged as pillars of progress; Kobac General Trading Company and the Hassan Kobac Foundation. These entities, driven by a shared commitment to ethical business practices and humanitarian relief, have earned…

Somalia launches first nationwide Instant Payment System powered by BPC

Mogadishu, 24 March 2025: The Somalia Payment Switch (SPS1) has successfully launched the country's first ever Instant Payment System with QR payments support powered by BPC's next generation SmartVista platform, a global leader in payment solutions2. Championed by the Central Bank of Somalia…

India Bans Highly Addictive Opioids Following Media Investigation

NAIROBI, Kenya (HORN OBSERVER) – Indian authorities have banned the production and export of two addictive opioids after a BBC investigation exposed their role in fueling a public health crisis in West Africa.

Saudi Arabia Expands Energy Ties with Africa: A Look at Key Investments, Partnerships

CAPE TOWN, South Africa (Kaab TV) – Earlier this week, Egypt's Minister of Petroleum and Mineral Resources Karim Badawi and Saudi Arabia's Minister of Energy Abdulaziz bin Salman Al Saud signed an agreement to develop an executive plan for energy efficiency cooperation, strengthening bilateral…

SOMALILAND: A Strong Fire Engulfed The Gobonimo Market In Hargeisa

Hargeisa, Somaliland - A heavy fire broke out at Gobonimo Market, which has brought back concerns about the vulnerability of important business centers in the city.

Oped - Somalia leaps towards digital transformation and drives country-wide financial inclusion through QR-based payments brought by BPC.

Somalia, historically characterised by a predominantly cash-based economy, has recently made significant developments toward digital financial inclusion. The country's financial landscape has long been shaped by limited access to formal banking services, with only about 15% of the population banked.…

Somali government continues to evict poor people, a move condemned by Human rights organizations

Mogadishu, Somalia (Horn Observer) As Somalia government continues to evict poor people from the public lands without giving them alternative places to live, a move human rights advocates condemned, calling for the government to stop such evictions.

Many Somali banks likely to close for investing unprofitable public lands

Mogadishu, Somalia (Horn Observer) Many Somali banks are on the verge of collapse after using depositors' money to buy public land from the government, a move that more than 100 federal lawmakers recently hinted as "unlawful"

China Paid $2M Ransom to Free Fishing Trawler Hijacked by Somali Security Guards in Puntland

Eyl Nugaal - A Chinese-owned trawler, LIAO DONG YU 578, and its 18 Chinese crew members were released on January 13, 2025, by Somali gunmen who had hijacked the vessel near the coast of Eyl in Somalia's Puntland state, Somalia's Kaab TV reported

Saamigado - the Online Stock Broker Joins the Somali Stock Exchange

Saamigado has now obtained membership with the Somali Stock Exchange (SSE), marking a significant milestone in the history of the financial brokerage company. As one of the pioneers in online brokerage services in Somalia, this partnership opens new avenues for growth and opportunity for investors within…