Audio By Carbonatix
Somalia's finance minister has told the BBC that Covid-19 is having a devastating effect on the economy.
Abdirahman Duale Beyle said remittance flows have dried up because so many Somalis abroad have lost their jobs due to the virus.
He added that government revenue has shrunk by 40% because it is unable to collect taxes.
Mr Beyle said he believed some people would starve as a result of the crash in remittance flows.
About $1.5bn (£1.2bn) a year are remitted to Somalia, significantly more than foreign aid, and many families depend on the cash for their survival.
It helps people pay for school fees, medical help or simply to buy food.
One of the largest money transfer companies in Somalia says remittances from the UK have fallen by 50%.
The country is already affected by Islamist militancy, clan fighting, regular droughts and floods and a locust invasion.
It is possible the hit to the economy from coronavirus will bring it to its knees.
But there is one glimmer of hope.
A $5bn injection of funds from the World Bank and International Monetary Fund - together with improved financial discipline - have made Somalia eligible for debt relief for the first time in 30 years.
The World Bank has just released a report saying that sub-Saharan Africa could lose $37bn in remittances because of coronavirus.
Latest Stories
-
ICU-Ghana boss urges unity to revive cocoa sector, calls for presidential summit
2 minutes -
Annoh-Dompreh launches community tree-planting drive in Nsawam-Adoagyiri
5 minutes -
ARB Apex Bank appoints Curtis W. Brantuo as Acting Managing Director
7 minutes -
Hundreds converge on Ejura Gov’t Hospital for free cataract surgery
8 minutes -
Government not serious about us – stranded UK PhD students
16 minutes -
KMA boss declares war on sex workers, migrant beggars in Kumasi
19 minutes -
Fuel prices, policy rigidities and the case for a Pricing Regulatory Commission
20 minutes -
UK High Commissioner urges patience as Ghanaian PhD students await scholarship payments
25 minutes -
Kotoko’s Karim Zito and Prince Yaw Owusu charged after GoldStars game
31 minutes -
Joy FM sets stage for Big Workout 2026 at University of Ghana Stadium
35 minutes -
Today’s front pages: Monday, January 19, 2026
1 hour -
Ghanaian family disowns relative after fraud conviction in Australia
1 hour -
GoldBod data shows 98.8% of Ghana’s small scale gold exports went to Dubai and India in 2025
1 hour -
Kofi Bentil says Ofori-Atta is hesitant to return over treatment, not charges
1 hour -
GSA debunks cement price hike claims, says Jan. 19 increase is false
1 hour
