The Somali government is preparing to issue a new Somali Shilling, with the Central Bank saying that the plan is at an advanced stage, at a time when the old currency has become significantly outdated and some businesses have begun to reject it.
A severe fuel shortage and spiralling petrol prices in Mogadishu have forced thousands of tuk-tuk drivers to park their vehicles and abandon the livelihoods that sustained their families, as the ripple effects of the Iran conflict choke fuel supplies across Africa. With petrol prices more than doubling in the capital, the crisis has paralysed a transport sector that serves as the city's economic lifeline, leaving an estimated 50,000 dependents vulnerable and raising fears of wider urban disruption.
