Day: June 21, 2023

Mogadishu, 21 June 2023: The Ethiopian National Defence Forces who are supporting the Somali National Army have successfully thwarted an assault by the notorious extremist group Al Shabab in Bardhere town in southern Somalia. According to Somali National Forces officials, the vigilant Ethiopian security forces swiftly intercepted two vehicles involved in the attack, neutralizing the assailants and averting any casualties. Somali National Army officials have commended the Ethiopian army for their unwavering vigilance and prompt action in protecting peacekeeping forces. ‘The audacity of the attempted attack by Al Shabab was met with unparalleled bravery and professionalism from the Ethiopian National Defence Forces’ said one senior official from the Somali National Army. The commendation from Somali officials further reinforces the strong partnership between Ethiopian and Somali forces in combating terrorism and preserving security. The collaboration between these two forces demonstrates a united front against extremist groups and serves as a powerful deterrent to those seeking to disrupt peacekeeping efforts in Somalia. The Ethiopian forces in Somalia are part of the Frontline States (Ethiopia, Kenya and Djibouti) who will take part in the second decisive phase of the military offensive against Al Shabab Kharijites. All the frontline states forces will take part in that offensive led by the SNA and will leave the country as soon as the operation is completed .

Source: Somali National News Agency

The Office of the Auditor General has conducted a Comprehensive Forensic Audit and handed the findings to the Office of the Attorney General. The audit investigated Allegations of Financial Mismanagement (Forensic Audit Report) in the Work Permit Department of the Ministry of Labor and Social Affairs (MOLSA), the Visa Extension Department of the Immigration and Nationality Agency (IND), the Payroll Management Department of the Ministry of Finance, the Personnel Management Department of the Central Bank of Somalia, and the General Accounting Office. The comprehensive audit report conducted by the Auditor General’s Office reveals that there has been widespread embezzlement within the Somali government’s central treasury amounting to $21 million from 08 March 2018 to 19 April 2023. This misappropriation of funds occurred under the responsibility and management of the departments responsible for revenue collection and work permit issuance under the Ministry of Labor and Social Affairs, the departments responsible for immigration, accounting, and treasury management under the Ministry of Finance, the Central Bank, and the Auditor General’s Office. The forensic audit conducted by the Auditor General’s Office covers the period from 08 March 2018 to 19 April 2023. It involves individuals holding positions in the government, civil servants, and members of the public who are directly or indirectly associated with the audited government institutions. Corruption and the abuse of the legal system in Somalia are significant challenges that undermine the stability and development of the country. The responsible institutions are urged to fulfill their duties and cooperate fully with the investigations, holding accountable all officials and employees involved in the mismanagement of government funds. Additionally, the Somali population is called upon to support and stand against those who engage in corruption and the actions of the extremist group Al-Shabaab. Fighting corruption and countering the threats of Al-Shabaab are national priorities for every Somali individual, both today and in the future. The objective of this comprehensive forensic audit is to combat corruption, recover misappropriated funds, and minimize the misuse of Somalia’s limited financial resources. No individual, group, or entity involved in the misappropriation and embezzlement of government funds will be spared from legal consequences.

Source: Somali National News Agency

In a joint operation conducted by the National Intelligence and Security Agency (NISA) and international partners, a planned military offensive targeting militants belonging to the Khawarij group was executed in the Lower Shabeelle region. The operation focused on dismantling the militants’ hideouts and bases located near Faay Yuusuf Village, close to Yimbis. Commencing yesterday and lasting until today, the military campaign has inflicted significant losses on the Al-Shabaab terrorist group. Preliminary reports indicate that a total of 45 militants and insurgents were eliminated, and their weaponry and ammunition were seized. The operation is still ongoing, with further casualties expected among the militants. The Khawarij militants and extremists posed a grave threat to the security and stability of the Bariire District in the Shabeellaha Hoose region. However, the National Army, acting on timely intelligence information, preemptively responded to their activities, ultimately defeating their plans and neutralizing their intentions. The Somali Government, in close coordination with its citizens and international partners, remains resolute in its commitment to eradicate the presence of Khawarij elements wherever they may seek refuge. The Somali National Army and the Somali people have paid a heavy price in their ongoing struggle against these extremist forces. Efforts to ensure the safety and well-being of the local population in the affected areas continue, as the Somali Government works towards restoring peace and stability throughout the region. The successful operation serves as a testament to the collective determination and commitment to counter terrorism and maintain security in Somalia. As the operation progresses, authorities remain vigilant and dedicated to maintaining the gains achieved, while ensuring the safety of both the military personnel and the local populace. The Somali Government expresses its gratitude to the international partners who contributed to the success of this joint operation, highlighting the importance of continued collaboration in the fight against terrorism. The decisive action taken against the Khawarij militants underscores Somalia’s unwavering resolve to protect its citizens and create an environment of peace, progress, and prosperity across the country.

Source: Somali National News Agency

A stronger Seychelles rupee contributing towards a decline in inflation locally, is one factor that has allowed the board of the Central Bank of Seychelles (CBS) to maintain the Monetary Policy Rate at 2 percent for the third quarter of 2023.

According to CBS, in May 2023, the year-on-year inflation had gone down by 1.0 percent, while the 12-month average rate of inflation was 1.8 percent.

The governor of the Central Bank, Caroline Abel, told reporters that estimated indicators for June show that inflation might go down during the second quarter as compared to the first quarter of the year by 0.5 percent.

Changes in prices locally are linked to non-food commodities which have dropped due to a 1.4 percent decrease in electricity prices, a 4.7 percent decrease in the price of transportation, and a 1 percent decrease in the price of communication, among others.

Abel shared that all this is linked to the fact that “since the end of last year and the start of 2023, we have seen a continuous drop in the price of the dollar, even if in May there was a slight depreciation.”

She said explained that this made it cheaper to buy a U.S. dollar.

“For this year, until June 16 compared to the same period last year, one U.S. dollar has become cheaper by 48 cents, one euro by 78 cents, and one Pound sterling by 1.70 rupees. This is a component that has helped the price of food to become cheaper in our economy,” said Abel.

Another contributing factor is the good performance of the tourism sector, which primarily supports the economy. Tourism remained the main foreign exchange earner, despite a gradual decline in yield from the industry.

As of June 14, 2023, the total number of tourists was higher compared to the same period last year. The growth in visitor arrivals was sustained by the positive performance of the traditional Western European markets – France, Germany, and England – as well as other regions – Russia and Israel.

However, over the same period, tourism earnings are estimated to be lower as a result of a decline in the average yield per visitor.

Abel emphasised the fact that despite the positive notes in the economy of the country, it is important for Seychelles to continuously follow the development in the global economy, especially in countries that are sources for its tourism sector.

“A slowdown or recession in the economic growth of these countries is bad for the local tourism sector. The reality of the war between Russia and Ukraine is also affecting commerce,” said Abel.

Source: Seychelles News Agency