major issue in east africa
piracy
Piracy off the coast of Somalia has been a threat to international shipping since the second phase of the Somali Civil War in the early 21st century. Since 2005, many international organizations, including the International Maritime Organization and the World Food Programme, have expressed concern over the rise in acts of piracy. Piracy has impeded the delivery of shipments and increased shipping expenses, costing an estimated $6.6 to $6.9 billion a year in global trade per Oceans Beyond Piracy.According to the German Institute for Economic Research, a veritable industry of profiteers has also risen around the piracy. Insurance companies, in particular, have profited from the pirate attacks, as insurance premiums have increased significantly.