[Event] Nairobi Forum & Oxfam Meeting: Remittance Transfers to Somalia, Sept. 11 2013 @ KICC

Date: Wednesday 11 September 2013
Venue: KICC – Aberdares Room
Time: 10am – 12pm
Entry: STRICTLY Prior Registration

Context

Every year, Somali migrants around the world send approximately $1.3 billion to friends and families at home, dwarfing humanitarian aid to Somalia. Individual transfers are usually less than $300, and often as little as $35. Families depend on the money for basic costs such as food, water, education and healthcare, and to cope with new crises.
A recent report by the UN Food and Agricultural Organisation shows that up to 40 percent of families receive some form of remittance, and that the money is integral to their survival. However, banks and regulators are in danger of inadvertently undermining this financial lifeline and driving it underground, as interpretation of UK and USA money laundering and counter terrorism legislation becomes tighter. Banks in the West are closing down the accounts of money transfer operators, thereby threatening to cut the lifeline to hundreds of thousands of Somali families.

This meeting will examine the impact of the decision by UK and US Banks to discontinue their services to the Somali remittance companies and explore challenges raised by the international remittance sector.

This post was originally posted in NairobiNow

An Eye on the Horn of Africa: Commentary by Prof. Peter Kagwanja on the EastAfrican – Aug. 3-9 2013

Last week’s commentary by Prof. Peter Kagwanja* on The EastAfrican caught my eye because it paints a picture of the role of international actors in the region. Perhaps my take away from his commentary is that we may be witnessing the entry of Somalia as the new play ground of global actors.

The unveiling of Unisom is also taking place against the backdrop of the discovery of valuable mineral and energy resources. This is raising fears in America and the European Union over a ‘Chinese takeover’ on the region and thrusting Somalia into the forefront of the fierce scramble for Africa’s strategic resources. This, in turn, is fueling renewed militarism, now everywhere fashioning the geopolitics of the horn. - Prof. Peter Kagwanja

Considering the considerable interest Somalia has been getting be it the Western interests as the professors points out to the interests of China as feared out by the west plus the invasion of the Turks to the party as it were things are bound to get interesting. Given also Kenya has a military presence in Somalia and would want to reap the peace dividends it remains to be seen if the entry of Somalia will be through Kenya. The unfolding Foreign Policy under Uhuru administration seems t be going that route given the president has spoken of strengthening intra Africa trade plus the rise of new wave of pan-Africanism.

* Prof. Peter Kagwanja is the CEO of Africa Policy Institute