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).