The Daesh group in the Bari region of Puntland region is said to be earning more than one hundred thousand dollars a month from the extortion of the telecommunication companies and other local businesses in the city of Bosaso in the Bari region.
Daesh is said to have taken advantage of the instability in Bosaso, due to the tension between the PSF and PMPF forces. Abdiweli Mohammad Yusuf, the chief financial officer of ISS, played an important role in raising funds for the organization, which has now become a center for disbursing funds to support IS activities abroad.
The report states that in the first half of 2022, ISIS received nearly $2 million from local businesses such as importing, exporting livestock, and agriculture.
ISIS is also involved in the illegal business of exporting coal to the Gulf countries, and ISIS extorts taxes from smugglers.
ISIS financing is said to be a major threat to the internal security and stability of many African countries. According to the report, the funds received by the group are used to sponsor various terrorist activities, which worsens the conflicts in the region.
However, the president of Puntland, Saeed Deni, recently announced that they are waging a war against Daesh, but nothing has been done yet.
