US Concerned By Al-shabaab Finance Accumulation

United States has expressed concern over the growing accumulation of illicit financing by the Somali based Al-Qaeda linked terrorist group, Al-Shabaab.

The US Permanent Representative to the United Nations, Ambassador Kelly Craft told the UN Security Council on Monday that Al-Shabaab has continued to accrue funds for their activities through illicit means.

“The United States continues to be concerned about Al-Shabaab’s ability to accrue large amounts of financing for its activities through illicit activities,” said Ambassador Craft.

She revealed that the Islamist militants, who still control parts of the troubled Horn of African nation, generate revenues through imposing illegal taxation and subduing of institutions.

“Al-Shabaab continues to expand its revenue base through informal taxation and the manipulation of formal and informal institutions. Some reports indicate that Al-Shabaab earns over Shs 50 million per year through illegal means,” she said.

U.S also commended Somalia government’s efforts to stop Al-Shabaab from accessing funds.

“We laud Somalia’s recent progress on curbing terrorism finance and encourage them to continue their work with the Somalia 751 Panel of Experts and its international partners,” said Ambassador Craft.

She noted that conflict and terrorism remain serious impediments to Somalia’s march towards long-term stability and development.

“The United States is committed to supporting African-led efforts to address the threats that impact not just Somalia but the broader region,” she said.

Washington condemned Al-Shabaab’s continued attacks on unarmed Somali civilians, humanitarian workers, government officials, and institutions.

“We offer our sincere condolences to the families of those who lost their lives in an attack on November 17 in Mogadishu,” said Ambassador Craft.

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