Somalia Cracks Down on Terrorism Financing: Businesses Warned Against Extortion Payments. By Mihiret February 9,2025
The Somali government has issued a strict warning to businesses and individuals, emphasizing that anyone funding al-Shabab through extortion payments will face legal consequences. Officials announced that businesses found to be financially supporting the group would risk losing their trading permits and facing prosecution.
🔹Government’s Tough Stance
At a joint press conference in Mogadishu, Somalia’s Minister of Internal Security, Minister of Religious Affairs, and other top officials made it clear:
Any financial collaboration with al-Shabab will not be tolerated.
Security forces are actively shutting down bank accounts linked to the group.
The government is determined to cut off the group’s financial resources.
"Do not let your wealth destroy your life," Minister Abdullahi Sheikh Ismail warned. "Security forces are prepared to act against those who fund terrorist activities."
🔹Crackdown on Bank Accounts
As part of its strategy to weaken al-Shabab, the Somali government has successfully shut down over 250 bank accounts and 70 mobile money accounts linked to the group.
According to Somali President Hassan Sheikh Mohamud, fighting terrorism is not just a military battle—it is also about disrupting their financial networks.
🔹The True Cost of Extortion
Businesses in Mogadishu’s Bakara Market—the largest in Somalia—have been forced to pay illegal taxes to al-Shabab. The funds collected from businesses are then used to manufacture and transport explosive devices, leading to deadly attacks.
Regional Police Commander Moalim Mahdi revealed that:
Each terrorist attack costs between $10,000 and $80,000 to execute.
These funds are used for buying explosives, transporting weapons, and planning attacks.
Many traders comply out of fear, but their payments are indirectly funding terrorism.
"Business owners may think they have no choice," Mahdi stated, "but by paying these taxes, they are financing attacks that kill innocent people."
🔹Legal Consequences for Funders
The government has vowed to prosecute anyone caught financing terrorism. Deputy Minister of Information Abdirahman Yusuf al-Adala warned that:
Authorities are tracking financial transactions linked to terrorism.
Individuals funding extremist groups will not escape punishment.
Legal measures will be strengthened to dismantle these financial networks.
🔹The Fight Against Terrorism Continues
The 7th Prosecutors' Conference of Somalia, held this week in Mogadishu, focused on strengthening laws against terrorism financing. Officials discussed how to cut off the economic resources of terrorist organizations, ensuring Somalia’s future security and stability.
Minister Ismail emphasized that the government is winning the battle against al-Shabab—not just militarily, but also by disrupting their financial, media, and ideological operations.
"We have beaten them in financial warfare," he declared. "Anyone caught funding terrorism will face severe consequences."
🔥 Your Turn! What do you think about Somalia’s approach to fighting terrorism financing? Should other countries adopt similar measures? Share your thoughts in the comments!