UN says 2.3 million Somalis severely affected by serious water, food, pasture shortages
November 20, 2021, 1:27 am

UN says 2.3 million Somalis severely affected by serious water, food, pasture shortages

The ICRC and the Somali Red Crescent distribute food from community kitchens/ICRC official Facebook page

The Xinhua reported that a UN spokesperson warned on Friday, some 2.3 million people in Somalia, or 18 percent of the population, are severely affected by serious water, food and pasture shortages.

Stephane Dujarric, spokesperson for UN Secretary-General Antonio Guterres, told reporters at the daily press briefing: "From Somalia, the federal government and the humanitarian community today jointly said that they are alarmed at the rapidly worsening drought in the country."

He said: "The risk of waterborne disease is on the rise due to the lack of access to safe and potable water."

Unsanitary sewage-Old river/Pixabay

The spokesperson said: "Somalia is on the frontline of climate change and has experienced more than 30 climate-related hazards since 1990, including 12 droughts and 19 floods."

Nearly 100,000 people have abandoned their homes, especially in central and southern areas, in search of food, water and pasture for their livestock. Over 70 percent of all Somalis live below the poverty line.

Across the country, the number of people who need assistance and protection is forecast to rise by 30 percent, from 5.9 million to about 7.7 million in 2022.

UN deputy special representative of the secretary-general in the country, Adam Abdelmoula, said that "a severe storm is brewing in Somalia."

Abdelmoula, who also acts as resident and humanitarian coordinator, said: "Those affected have already endured decades of conflict, climatic shocks and disease outbreaks."

Local communities, the authorities and the United Nations are ramping up response to address these needs. But critical response sectors like water, sanitation and hygiene are only 20 percent funded.

With one month remaining in the year, the 2021 Somalia Humanitarian Response Plan is only 66 percent funded.

In response, the UN Central Emergency Response Fund is allocating 8 million U.S. dollars and the Somalia Humanitarian Fund is making a reserve allocation of 6 million dollars.

Source: xinhua

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.