Abdullahi Jess

04/12/2023

Macro-Economic side: Benefits and Disadvantages of
Somalia Joining the East African Community (EAC):

https://www.academia.edu/110495635/Macro_Economic_side_Benefits_and_Disadvantages_of_Somalia_Joining_the_East_African_Community_EAC

30/06/2023

27/06/2023

Eid Mubarak

23/06/2023

Jumca hilwa

05/05/2023

Dilemma in somalia

05/05/2023

Some view @ Guled Hotel

20/04/2023

Ciid Mubarak

19/04/2023

The Economy of Somalia

Somalia's economy is facing severe inflation, which has resulted in unequal income and home rents. Recently, there has been an increase in housing rent and the expense of living, which has resulted in a decrease in the quality of life for many people, especially the poor. Many people, especially young people, who work in the country borrow money from microfinance institutions on numerous occasions, but they find it difficult to repay the loans, which contributes to the country's high default rate. Somalis are immensely dependent on one another in life; for example, if one person in the family works, the rest of the family belongs to that person. When comparing how the country was in the previous 20 years to how it is now, there is a significant shift. In recent years, there has been a significant change in people's upbringing, life changes, and economic progress. There is no economic stability in the country because of changes in the development of the nation, including the construction of modern buildings, banks, markets, hospitals, and educational institutions, which have changed how much people earn. Although the central bank has built a mechanism to supervise and regulate private banks, it does not play a role in determining market rates, although currently making significant adjustments. He was a forerunner in the establishment of the nation's consolidated financial system, which sparked the amalgamation of all private banks. When we evaluate the current state of the country in 2023, we see three stages: 1.State of war 2.Drought circumstances. 3. The debt settings. Somalia will gradually recover if these three prerequisites are met. Situation during a war, the country is spending a lot of money for transportation and life, which is insufficient for the country's re-opening, thus the government needs significant support for the country. The country is experiencing a drought, since the catastrophe, the country has seen droughts and floods, depleting the country's economic resources such as livestock and crops. National debt cancellation, it can occur in two stages.1.If the country's debt is cleansed, the government may be forced to refinance another debt, thereby resolving the economic situation and raising the prospect of no more cancellation of debt in Somalia.2.If Somalia's debt is cleared up, it is likely that it will reconstruct itself, and the country's economy will be in accordance with the country, and the country will have enough money for the people, leading to economic development. Somalia suffers from instability in both politics and the economy, which we hope will change because it was not previously. We advise the government to reform the country's economy by focusing on agriculture, livestock, fisheries, and petroleum extraction. It is also suggested that the country's central bank restructure the country's currency and force private banks to utilize local money.

's economy is facing severe inflation, which has resulted in unequal income and home rents. Recently, there has been an increase in housing rent and the expense of living, which has resulted in a decrease in the quality of life for many people,

18/04/2023

Al Jazeera Gold Mafia exposé ‘tip of the iceberg’ for Zim corruption but accountability remains elusive
The documentary series produced by the news channel's Investigative Unit reveals a money laundering network in which gold smuggling gangs in southern Africa share links with top officials in Zimbabwe’s government. However, as the country’s general election looms, the question of accountability remains largely unanswered.
A four-part “Gold Mafia” investigation by Al Jazeera’s Investigative Unit has sparked widespread outrage after exposing a number of gold smuggling gangs in southern Africa that facilitate the laundering of hundreds of millions of dollars by criminals.
https://www.dailymaverick.co.za/article/2023-04-17-al-jazeera-gold-mafia-expose-tip-of-the-iceberg-for-zim-corruption-but-accountability-remains-elusive/
Visit the Link
https://www.youtube.com//about
Gold Mafia - Episode 1 - The Laundry Service I Al Jazeera Investigations.
Gold Mafia - Episode 2 - Smoke & Mirrors | Al Jazeera Investigations.
Gold Mafia – Episode 3 – El Dorado I Al Jazeera Investigations.
Gold Mafia – Episode 4 – Have The King With You I Al Jazeera Investigations

18/05/2020

Bank lending.
Borrowings from banks are an important source of finance to companies. Bank lending is still mainly short term, although medium-term lending is quite common these days.

Short term lending may be in the form of:

a) an overdraft, which a company should keep within a limit set by the bank. Interest is charged (at a variable rate) on the amount by which the company is overdrawn from day to day;
b) a short-term loan, for up to three years.

Medium-term loans are loans for a period of from three to ten years. The rate of interest charged on medium-term bank lending to large companies will be a set margin, with the size of the margin depending on the credit standing and riskiness of the borrower. A loan may have a fixed rate of interest or a variable interest rate, so that the rate of interest charged will be adjusted every three, six, nine or twelve months in line with recent movements in the Base Lending Rate.

Lending to smaller companies will be at a margin above the bank's base rate and at either a variable or fixed rate of interest. Lending on overdraft is always at a variable rate. A loan at a variable rate of interest is sometimes referred to as a floating rate loan. Longer-term bank loans will sometimes be available, usually for the purchase of property, where the loan takes the form of a mortgage. When a banker is asked by a business customer for a loan or overdraft facility, he will consider several factors, known commonly by the mnemonic PARTS.

- Purpose
- Amount
- Repayment
- Term
- Security
P

The purpose of the loan A loan request will be refused if the purpose of the loan is not acceptable to the bank.

A

The amount of the loan. The customer must state exactly how much he wants to borrow. The banker must verify, as far as he is able to do so, that the amount required to make the proposed investment has been estimated correctly.

R

How will the loan be repaid? Will the customer be able to obtain sufficient income to make the necessary repayments?

T

What would be the duration of the loan? Traditionally, banks have offered short-term loans and overdrafts, although medium-term loans are now quite common.

S

Does the loan require security? If so, is the proposed security adequate?