By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Youth Village KenyaYouth Village KenyaYouth Village Kenya
  • Home
  • Education
  • Employment
  • Entertainment
    • Celebrity News
    • Celebrity Interviews
    • Sports
    • Fashion
    • Politics
    • Tech
  • Opportunities
  • Health
  • Contact Us
Search
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Al-Shabaab: US Treasury Sanctions Kenyan Businessmen and Bus Company Over Terror Links
Share
Sign In
Notification Show More
Font ResizerAa
Youth Village KenyaYouth Village Kenya
Font ResizerAa
Search
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Youth Village Kenya > Blog > News > Al-Shabaab: US Treasury Sanctions Kenyan Businessmen and Bus Company Over Terror Links
News

Al-Shabaab: US Treasury Sanctions Kenyan Businessmen and Bus Company Over Terror Links

Editor
Last updated: 2024/03/12 at 9:31 AM
Editor
Share
2 Min Read
Al-shabaab
Al-shabaab
SHARE

The United States Treasury has imposed sanctions on two Kenyan entrepreneurs and a long-haul bus company due to their ties to Al-Shabaab.

In a statement released on Monday, March 12, it was disclosed that the bus company, servicing routes to Mombasa and Busia, had been exploited as a conduit for money laundering by the terrorist organization.

Furthermore, it was revealed that the bus company had been utilized by the Somali-based extremist group to provide logistical support, particularly transportation services.

One of the Kenyan businessmen was identified as a financial facilitator for Al-Shabaab, collaborating with the group’s leadership to transfer funds and engaging in money laundering activities. This individual also collaborated closely with another Kenyan businessman to plan investment ventures, including those involving the bus company.

The US Treasury emphasized that the sanctions were aimed at disrupting the revenue streams of the terrorist organization, which reportedly shares some of its proceeds with Al-Qaeda.

It was estimated that Al-Shabaab earns approximately Ksh14 billion (USD100 million) annually, with a portion of these funds originating from businesses operating outside Somalia, such as the implicated bus company.

The US Treasury’s actions extend to businesses overseen by the two sanctioned Kenyan businessmen, as well as entities based in Uganda and Dubai.

The statement underscored the broader threat posed by Al-Shabaab, which not only impacts Somalia but also contributes to funding Al-Qaeda-affiliated groups globally, undermining stability and governance.

As a result, the US Treasury mandated that businesses linked to the financing of the terrorist group must be reported to the Office of Foreign Assets Control (OFAC).

You Might Also Like

Youth Bunge: Empowering Kenya’s Next Generation of Political Leaders

Nominated Senator Gloria Orwoba Condemns Femicide Amid Growing Violence Against Women

Karen Nyamu Claps Back at Critic Over Tax Consumption Claims

Oscar Sudi Admits He Never Went to School, Says Leadership Is About Strategy, Not Certificates

Renowned Journalist Silas Apollo Dies After Tragic Road Accident on Kiambu Road

TAGGED: AL SHAABAB, Al Shabaab in Kenya, Al-shabab, Fetured, TERROR, terrorism, Terrorism in Kenya

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Editor March 12, 2024 March 12, 2024
Share This Article
Facebook Twitter Copy Link Print
Share
Previous Article Evans Kosgei Evans Kosgei: The Alleged Tragic Tale of Twitter Live Crime
Next Article Nyako Nyako Clinches Comic Content Creator of the Year Award at Marwa Music Awards
- Advertisement -

Latest News

Former First Lady Margaret Kenyatta Steals the Show at County First Ladies’ Leadership Showcase
Life Style May 9, 2025
Burundian Socialite Dabijou Vows to Have Jamal Rohosafi’s Baby Amid Criticism from Kenyans
Life Style May 9, 2025
Grace Ramtu Flies Kenya’s Flag High at Miss World Festival While Championing a Cause Close to Her Heart
Life Style May 9, 2025
Michael Njenga Shares Emotional Journey of Recovery After US Hospitalisation
Breaking News May 8, 2025
Pritty Vishy Flaunts Impressive Weight Loss After Ozempic and Gym Commitment
Entertainment May 8, 2025
Bahati Shaves Off 10-Year-Long Dreads After Arsenal’s Defeat to PSG in the Champions League
Entertainment May 8, 2025
Youth Bunge: Empowering Kenya’s Next Generation of Political Leaders
News May 8, 2025
Dorea Chege Responds to DJ Dibul Cheating Rumours Amid New Motherhood
Celebrity News May 7, 2025
- Advertisement -
Follow US
© 2023 Youth Village Kenya By Nine80 Digital Media
Welcome Back!

Sign in to your account

Lost your password?