Press Release

Africa Focus: Aid agencies warn of crisis in Somalia after cut in money transfers

By February 28, 2015July 29th, 2020No Comments

African aid agencies on Thursday warned of financial crisis in Somalia after principal banks in the West facilitating money transfers to the Horn of Africa nation broke ties with the operators over terrorism fears.

The agencies said in a joint report released in Nairobi that humanitarian crisis looms following the move by banks in Australia, U.S., Britain and elsewhere to cut ties with the money transfer operators that make remittances possible to Somalia.

Read the full article here.