World
UN Says 1m Somali Refugees Grow Hopeless
By Dipo Olowookere
More than one million Somali refugees who have been displaced from their homes for decades are becoming despondent as they continue to be unable to return home and donor support is growing fatigued, according to the United Nations refugee agency.
“There is a growing sense of helplessness in the camps because people are feeling forgotten,” said Mohamed Abdi Affey, the Special Envoy to the Somali refugee situation for the UN Office of the High Commissioner for Refugees (UNHCR).
The Somali refugee crisis is one of the longest-running in the world, with people who have been displaced for more than 20 years. Some one million live in camps throughout the Horn of Africa, while an additional 1.1 million are displaced within Somalia.
“There has been some real progress in Somalia over the past few months, including the successful organization of elections inside the country,” acknowledged the Special Envoy. “What’s needed now is to build up infrastructures across the country so refugees do not suffer when they go back.”
UNHCR is backing a regional summit, led by the Intergovernmental Authority on Development (IGAD) in Eastern Africa, which will take place in March to determine lasting solutions for Somali refugees. A proposed regional response would provide continued protection to 262,000 Somali refugees in a camp in Kenya that has been hosting people for more than 20 years. When a decision was made last year to close the camp, UNHCR lobbied the government with a new plan of action and successfully delayed its closure.
“Nobody wants to be a refugee forever. A regional solution is the most viable solution for the Somali situation,” said Mr Affey.
Mr Affey, who previously served as the Deputy Foreign Affairs Minister in Kenya, spoke in Geneva yesterday following a visit to Somalia and to refugee camps in Djibouti, Kenya, Ethiopia, and Uganda, where 905,060 Somalis live – some since the 1990s. He also visited Yemen last month, where refugees face increasingly desperate conditions in a country torn apart by war.
Because of emergencies elsewhere – particularly in Syria and South Sudan – donors have been unable to continue their support.
“Meanwhile, hunger is growing; meanwhile, frustration is growing; meanwhile, desperation is setting in and people are becoming angry,” reported the Special Envoy.
In addition to dwindling food rations, Mr Affey said that the ongoing drought in East Africa has led to further complications, including limited access to education and skills training, especially for young people.
“Refugees should be skilled enough, trained to prepare them for an eventual return so that they can participate in the reconstruction of their country. So that they don’t go back after 30 years without skills – within the camps we must create these conditions and possibilities.”
UNHCR began supporting the voluntary return of Somali refugees from Kenya in 2014. Since then, a total of 39,316 have returned.
However, Mr Affey noted that security and socio-economic conditions in many parts of Somalia are not yet where they need to be in order to support large-scale returns. He appealed to the international community to strengthen efforts to build stability in a country that has suffered under more than two decades of armed conflict.
By Adedapo Adesanya
Nigeria regained its position as Africa’s leading destination for equity startup investment in the first half of 2026, raising $214 million in equity financing and a total of $254 million across equity and debt, according to the latest Africa: The Big Deal report.
The report, titled H1 2026: Mapping the Money, showed that Nigeria ranked second on the continent in total funding, behind Egypt, which attracted $327 million, while Kenya and South Africa followed with $126 million and $83 million, respectively.
However, the report noted that Egypt’s top position was largely driven by a single fundraising by electric mobility company Spiro, which secured $327 million, including $270 million in equity and $57 million in debt. Excluding debt financing, Nigeria emerged as Africa’s largest equity funding market in the first six months of the year.
According to the breakdown by Africa: The Big Deal, Nigeria’s equity funding of $214 million was higher than Egypt’s $183 million, while South Africa and Kenya attracted $66 million and $46 million, respectively.
Beyond funding value, Nigeria also led the continent in the number of startups that raised at least $100,000 during the review period, reclaiming the top spot after what the report described as an “underwhelming” second half of 2025.
The publication observed that Nigeria’s fundraising performance has remained relatively stable over the past few years and exceeded the $250 million mark for the first time since 2022, pointing to renewed investor confidence in the country’s startup ecosystem.
It also found that while the Big Four startup markets—Nigeria, Egypt, Kenya and South Africa—continued to dominate Africa’s investment landscape, their combined share of total funding stood at 58 per cent in the first half of 2026.
“Zooming back on the Big Four (110 out of 190 $100k+ deals, i.e. 58%), Nigeria is head and shoulders above its peers, with Egypt and Kenya almost tying, and South Africa in fourth position again,” the report noted.
The report highlighted contrasting performances among the continent’s largest startup ecosystems. While Nigeria and Egypt maintained strong funding momentum, Kenya recorded its weakest funding performance since early 2021 after a strong second half of 2025, and South Africa failed to attract $100 million in funding during the period despite leading the continent a year earlier.
Africa: The Big Deal also noted a broader shift in investor behaviour, with funding increasingly concentrated in larger transactions while early-stage investments continued to decline. According to the publication, the drop in smaller funding rounds reflects growing concerns about limited capital available for early-stage startups across Africa.
By Aduragbemi Omiyale
Accessing the US Dollar in the East Africa region has now been made easier with the expansion of the stablecoin settlement infrastructure of SCRYPT.
This development enables banks, payment providers and corporate treasury teams to move value into and out of the continent in real time.
Businesses paying international suppliers frequently have to convert local currency into USD before purchasing stablecoins for settlement, incurring FX conversions and spreads before any payment is made.
But SCRYPT is eliminating this intermediate conversion by enabling direct settlement corridors for local African currencies into stablecoins.
This development allows businesses to move from local currency to stablecoin settlement in a single licensed transaction, without first sourcing rationed bank dollars, as stablecoins are increasingly becoming settlement infrastructure rather than an investment product.
The expansion adds settlement support across four African currencies: the Kenyan shilling (KES), Tanzanian shilling (TZS), Rwandan franc (RWF) and Ugandan shilling (UGX). Each corridor is delivered through the same full-stack infrastructure our clients already use for trading, custody and treasury operations.
Speaking on this, the chief executive of SCRYPT, Norman Wooding, said, “Across Africa, stablecoin adoption is driven by economic need, not speculation.
“Businesses here are not chasing yield; they are trying to pay suppliers and manage treasury without losing margin to a banking system that rations dollars. Licensed, fair-rate dollar access is the clearest proof of what this infrastructure is for.”
Also commenting, the Managing Director of Markets & Trading at SCRYPT, Mr Gabriel Titopoulos, said, “Until now, reaching stablecoins from local African currencies meant buying scarce dollars and incurring several layers of conversion costs.
“SCRYPT removes this friction. Firms and payment providers can now settle straight from local currencies through live corridors, with local partners.”
World
African Graduates Association Promoting Multifaceted Initiatives With Russian Educational Institutions
By Kestér Kenn Klomegâh
In preparations for the third Russia-Africa Summit, scheduled for late October 2026, Dr Francois Ngan, deputy chairman of the Union of Associations of African Graduates of Soviet and Russian Universities, during an official working visit, has held a consultative meeting with Professor Vladimir Filippov, the President of the Russian University of Peoples’ Friendship (RUDN), and former Minister of Higher Education of Russia, Chairman of the National Commission for Accreditation of Higher Education.
RUDN is an educational institution established in 1960, primarily to provide higher education to Third World students. It has now become a popular multidisciplinary spot for many students, especially from developing countries. The university offers various academic programmes and has research infrastructure that comprises laboratories and interdisciplinary centres. The university is named after the former Congolese leader, Patrice Lumumba.
Dr Francois Ngan and Professor Filippov discussed the importance of the Graduates Association as a continental platform dedicated to strengthening unity, cooperation, and promoting shared progress among African graduates who studied in the former Soviet Union and in the Russian Federation. They also reviewed multifaceted initiatives that could bring together alumni associations from across Africa, whose members obtained education and professional training, and cultural experiences in Soviet and Russian institutions of higher learning.
Professor Filippov expressed optimism in addressing emerging challenges as a result of shifting geopolitical changes, emphasised strategic cooperation in the educational sphere with Africa, in general, and with the Republic of Cameroon, in particular, and further about the integration of African students during their studies in the Russian Federation.
The meeting also touched on academic and scientific work, the possibility of rewriting a scientific thesis, and the official organisation of transferring versions translated into six languages for the library of RUDN. Significant questions relating to Russia’s educational opportunities, collaborations and partnerships involving African countries were thoroughly discussed.
The Union of Associations of African Graduates of Soviet and Russian Universities was created under one continental umbrella to promote friendship, for professional networking, to engage in cultural exchange, and with particular emphasis on forging strategic cooperation between Africa and Russia.
