Somalia’s poverty reduction strategy

Somalia is focusing on boosting public revenues and investing in education and infrastructure to reduce poverty in a sustainable way. The World Bank says these efforts could create jobs and lower the poverty rate to about 30 percent by 2046.

World Bank report outlines goals

A World Bank report published on October 26 highlights that a large-scale reform program could reduce the poverty rate to 47.2 percent in 2033, down from 53.6 percent in 2025. This would be supported by improvements in essential services and job creation.

Sustained growth as key factor

The report suggests that a 24.1 percentage point drop in the poverty rate by 2046 would be driven mainly by a steady rise in per capita income. The World Bank notes that 70 percent of per capita GDP growth would influence household consumption, underscoring the importance of sustained economic growth.

Focus on domestic revenue and investment

The proposed reforms emphasize increasing domestic revenues and strengthening investments in human capital and infrastructure. These steps are expected to boost productivity and capital accumulation, while better public expenditure management is also highlighted as crucial.

Education investment and job quality

The World Bank highlights that increased education spending could strengthen human capital and improve education levels. This would not only help reduce poverty but also enhance the labor market. By 2033, around 54,500 teaching positions could be created, with improvements in job quality for approximately 250,000 jobs.

Persistent poverty and climate challenges

Poverty remains high in Somalia, with 54 percent of the population living below the national poverty line in 2022. Rural and nomadic communities are especially vulnerable. Drought, reduced international aid, and rising food prices have worsened food insecurity, affecting around 6.5 million people.

World Bank sees revenue as a solution

In response to these challenges, the World Bank emphasizes the need to increase public revenues to fund essential services, create jobs, and improve living conditions. This would help counter the rising poverty rate, expected to reach 54.2 percent in 2026.

Mining and energy developments in Africa

In Côte d'Ivoire, Aurum Resources plans to move Boundiali toward the construction phase, aiming to begin production by 2028. The mine is estimated to contain 119 tons of gold. Meanwhile, in Nigeria, Eni is focusing on deep-water projects and gas infrastructure, reducing its presence in onshore oil.

Agriculture and mineral investments

Mozambique is trying to attract Indian investors in its rice sector, as it is the third-largest rice importer in the Southern African Development Community. In the global nickel market, Africa is gaining attention for its role in stainless steels and batteries.

UNESCO congress on digital culture

The 2026 international UNESCO congress will address issues related to creation, algorithms, and cultural diversity. It will highlight the dominance of certain languages and cultures in the digital space despite the planet's rich linguistic and cultural diversity.

Dakar 2026 event preparations

Behind the scenes of Dakar 2026, the process of creating outfits for the winners' ceremonies involves several stages, including supplying materials, modeling, cutting, assembling, and finishing. This ensures the final products meet the event's standards.