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15.05.26 - 11:12
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"Pushed Into Poverty": Somalia′s Currency Crisis Leaves Traders Holding Worthless Cash (ZeroHedge)
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"Pushed Into Poverty": Somalia's Currency Crisis Leaves Traders Holding Worthless Cash
For decades, Muse Omar Jama made a living swapping currencies in Mogadishu's Bakara market, where customers once lined up to trade Somali shillings for dollars and mobile money. Now his office sits mostly silent, and the safes around him are stuffed with cash no one wants, according to The Guardian.
The problem began when traders in Somalia stopped accepting worn-out shilling notes, saying the bills were too damaged to use. The boycott quickly spread to shops, buses, and businesses across the country, wiping out the value of savings held in local currency. Jama describes the shock bluntly: “It's like we went bankrupt overnight.”
He can no longer exchange the piles of shillings stacked in his office for US dollars, and many former customers leave empty-handed. “I have to turn them away because my safes, shelves and tables are already full of Somali shillings,” he says.
Photo: The Guardia...
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27.04.26 - 04:03
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Ilhan Omar Probe Expands Into Hubby′s $30M Of Shady Biz Deals In Kenya, Dubai And Somalia (ZeroHedge)
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Ilhan Omar Probe Expands Into Hubby's $30M Of Shady Biz Deals In Kenya, Dubai And Somalia
House Oversight Chairman James Comer is cranking the investigation into Rep. Ilhan Omar's husband, Tim Mynett, into overdrive - demanding a full accounting of shadowy international business trips and deals that stretch from the Horn of Africa straight into Kenya, Somalia and the glittering skyscrapers of Dubai.
Omar has been making strange moves since February, after Comer fired off a no-holds-barred letter demanding every document and communication on Mynett's travel and business dealings in Kenya, Somalia and the UAE. Since then, the story has exploded again with several stunning new twists: Omar quietly amended her 2024 financial disclosure in late March, slashing the reported $30 million fortune down to nearly zero; just nine days later, on April 4, the California winery central to those valuations was officially dissolved; forensic accountants have publicly torn into the revised numbers for major...
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31.03.26 - 12:54
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Piraten kapern iranisches Segelschiff vor Somalia (DPA-AFX)
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NAIROBI (dpa-AFX) - Piraten haben vor der Küste Somalias ein unter iranischer Flagge fahrendes Segelschiff gekapert. Zu dem Überfall kam es bereits am 24. März etwa 400 Seemeilen östlich von Mogadischu, wie die EU-Marinemission Atalanta berichtete. Bei ......
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