Mali jihadist group uses high-value kidnappings for financing

The Islamist militant group, Jama’at Nusrat al-Islam wal-Muslimin (JNIM) has been abducting and holding high-value targets for ransom as a part of its financing strategy in Mali, Al-Monitor reported on November 13th.

In what some analysts refer to as “economic jihad,” JNIM has been targeting wealthy foreigners and local elites to help fund its campaign to cripple the Malian government and impose a new Islamic state in Mali. JNIM has already engaged in a fuel blockade campaign across the Sahel nation’s capital, Bamako, which has brought the country to a standstill. The rapidly escalating situation in Mali has seen foreigners fleeing the country, as well as the African Union Commission calling for international action.

Heni Nsaibia, the Senior West Africa Analyst for ACLED conflict monitor, claims that at least 22 foreign nationals have been abducted between May and October this year, almost double the previous record in 2022.

This new ransom strategy has been marked most notably by the abduction of a member of the UAE royal family in September, where JNIM demanded a $50m ransom. According to Reuters, these demands were met, providing significant profits for the Jihadist coalition group.

JNIM’s ransoms hold concerning implications about the military power of the al-Qaeda-linked group. Their fuel blockades have already caused major disruptions across the country, however their increased funding could see the organisation acquire further weapons and equipment that can aid their operations. With the Malian junta already facing mounting pressure from JNIM’s targeted attacks, the possibility of enhanced violence is a fiercely tangible threat to the stability of Mali’s military government.

Therefore, JNIM’s adoption of high-value hostages can be seen as a strategic escalation of their conflict with Mali’s government. The consistent ransom pay-offs allow for reiterated aggressions that heighten state fragility and challenge the power currently held by the government. This ransom-funding strategy could be adopted by other extremist Sahel groups should the government fail to crack down on it.

Al-Monitor, Maghrebi.org, Reuters