US and Somalia discuss strategies for fighting Al-Shabaab financial empire

MOGADISHU, Somalia - The United States and Somalia have discussed various mechanisms for curbing Al-Shabaab's growing financial muscle, with the group reportedly raking in millions of dollars from extortion and illegal taxation across the country.

On Thursday, President Hassan Sheikh Mohamud held a closed-door meeting with Brian Nelson, the Under Secretary of the Treasury for Terrorism and Financial Intelligence of the United States, in which counterterrorism efforts were extensively discussed.

During the meeting, President Hassan Sheikh Mohamud revealed that some of the strategies in controlling Al-Shabaab's financial empire had effectively worked, noting the closure of over 250 bank accounts associated with Al-Shabaab and 70 mobile money transfer firms whose transactions were suspicious.

Regulating Al-Shabaab's financial flow, he added, has been a major boost in the liberation of several strategic towns across the federal republic of Somalia, adding that the group could in future face financial constraints. Data by the US State Department shows Al-Shabaab collects up to $120 million annually.

The money, Somalia notes, is used by the Al-Shabaab to purchase weapons from abroad, with $24 million set aside for this purpose. The remaining balance, the US said, is used to facilitate fighters across the country and elsewhere, with the militants at times chest-thumping of supporting terrorism outside Somalia.

On his part, Nelson emphasized the US Treasury's commitment to imposing blockades on suspected Al-Shabaab financiers. This year alone, dozens of suspected Al-Shabaab financiers and charcoal traders have been blacklisted from visiting the US, besides being put on a tracking list.

The official further welcomed Somalia's ongoing military campaign against Al-Shabaab, adding that the efforts have liberated significant portions. The US Africa Command has been integral in providing aerial surveillance during ground combat against the Al-Shabaab.

For instance, the US Africa Command was behind a series of airstrikes in Middle Jubba recently which left dozens of Al-Shabaab militants dead. Somalia is projecting that by December 2024, most of the territories will be under the control of the federal army, whose strength has multiplied in recent weeks.

GAROWE ONLINE