Reportedly, the Somali branch of the so-called Islamic State, which is well-known for its stronghold in the northeastern Bari region of Puntland state in Somalia, has been involved in the export of small amounts of locally mined gold.
The International Crisis Group reports that since 2022, the group’s funding has reportedly accumulated to the tune of $6 million, a figure that is attributed to this activity.
ISIS-Somalia’s gold mining and export ventures demonstrate not only the group’s economic activity but also its adaptability and operational prowess in the abrasive Bari region.
The fact that ISIS-Somalia is involved in the gold trade highlights its strategic importance to the larger the so-called Islamic State group, especially in financing operations across Africa and possibly beyond, even though it is a smaller organization than other terrorist groups in the region like Al- Shabaab Militia.
Concerns about this financial activity have been expressed by local authorities and international observers, leading to calls for more comprehensive counterterrorism strategies that tackle the financial lifelines of these groups in addition to their military component.
Although the complicated terrain and local politics make this difficult, Somalia and its internation allies with local forces have been attempting to disrupt these operations.
The predicament highlights a larger obstacle in the fight against terrorism in Somalia, where financial benefits from natural resources can support rebel organizations and impede attempts to bring about peace and stability in the region.