Somaliland
The Somali region of Somaliland launched an international appeal on Wednesday for $2 billion to urgently deliver humanitarian and livelihood support.
The appeal comes after a huge fire destroyed the main market in the capital Hargeisa, wiping out t an estimated 5,000 small, medium and large family businesses and therefore devastating the local economy.
Somaliland President Muse Bihi Abdi said in a statement that the fire had caused losses estimated at $2 billion, or around 60 percent of countrz 's gross domestic product.
Its GDP in 2020 was just over $2.9 billion, shrinking 3.1 percent from the previous year largely because of the impact of the Covid-19 pandemic, according to official figures.
Somaliland declared independence from Somalia in 1991 but the move has not been recognised by the international community, leaving the region of about four million people
The breakaway region has however remained relatively stable while Somalia has been wracked by decades of political violence and an Islamist insurgency.
An investigation team is looking into the cause of the fire and its report is expected to be disclosed to the media in the next few days, he further said
01:00
Fire in Manila displaces 1,000 families and destroys several homes
11:07
Africa’s youth, tech, and green innovators reshape the continent’s business future
01:22
Cheetah cubs destined for illegal wildlife trade rescued in Somaliland
01:14
Rising temperatures threaten the survival of Morocco's palm groves
01:00
Fire at cold storage facility spreads to warehouse in Turkey’s Antalya
01:18
Somalia's president and opposition leaders reach historic election agreement