Friday, 19 April 2024

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Recent News

  • Mobile money baffles pastoralists in central Somalia

    21:37 | 1/3/18
    Radio Ergo (blog)
    (ERGO) - The collapse of the local shilling is forcing pastoralists from remote parts of central Somalia to grapple with the use of foreign currency as well as mobile phone technology when they try to sell their livestock. more»

  • WFP Somalia Country Brief, October 2017

    11:41 | 4/12/17
    ReliefWeb
    In the main markets in Bosasso, sorghum prices increased significantly in October, due to high inflation in Puntland as a result of newly printed fake money and devaluation of the Somali shilling. In Somaliland, compared to one year ago, the Somaliland ... more»

  • Where Somaliland's 2017 presidential candidates stand on key issues

    22:04 | 26/10/17
    The National
    ABDIRAHMAN IRRO: Irro says that he will first strengthen the powers of the central bank to tackle the decreasing value of Somaliland's shilling and the rising inflation rate. Irro also pledges to create a state-run commercial bank, because he says that ... more»

  • Somalia Months Away From Having New Currency

    03:48 | 7/10/17
    Voice of America
    The “1,000 Somali shilling will be the smallest denomination of coin. The biggest bank note of the new currency will be either 10,000 shilling or 20,000 shilling … there is still discussion on this and is yet to be finalized,” he said. more»

  • Somalian business imports currency again

    07:18 | 14/9/17
    Independent Online
    Mogadishu - Hundreds of armed militiamen escorted 30 billion Somali shillings (about R21-million) printed in Canada from an airport into the capital Saturday. more»

  • The surprising place where cash is going extinct

    21:14 | 13/9/17
    BBC News
    This shift away from cash is in part due to the rapid devaluing of the Somaliland shilling, the breakaway self-declared republic's own currency which now trades at around 1 USD to 9,000 shillings. more»

  • Somalis warned against paying al Shabaab taxes or face sanctions

    21:22 | 24/7/17
    africanews
    The Puntland authorities responded to the allegations and ban in a statement saying the militant group wants to “devalue the Somali shilling and empowering the foreign currency”. Al Shabaab has been able to carry out deadly bombings despite losing most ... more»

  • Somali traders heed to Al Shabaab ban on local currency, use Ethiopian Birr

    23:03 | 14/7/17
    africanews
    “Puntland government warns business owners in Puntland against following the ban on the Somali shillings. Anybody found complying Al-Shabaab ban will be considered as a member of them and will face consequences,” the statement cited by local media ... more»

  • Somalia: Birr in Use in Parts After Fake Shilling Floods Market

    07:52 | 12/7/17
    AllAfrica.com
    Traders and consumers in Galmudug have introduced transaction using the Ethiopian Birr. Residents of Dhusamareb confirmed to Radio Dalsan that following the flooding of fake Somali Shillin in the market traders have opted to instead use the Ethiopian ... more»

  • Puntland Condemns Al-Shabab over Ban on 'Counterfeit' Somali Shilling

    16:07 | 7/7/17
    Somaliupdate Online
    GAROWE (Somali Update Online) - Somalia's semi-autonomous state of Puntland has condemned Al-Shabab militant group which banned the usage of the Somali 1000 banknote from traders in the central and southern regions including parts of Puntland. more»
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