By Mohamed Abdi - Reporter
Somalia (Dawan), 10 August 2026 — The Office of the Auditor General of the Federal Republic of Somalia reported that the Federal Government received US$42,235,735.14 in 2025 from two separate concession agreements relating to Mogadishu Port and Aden Adde International Airport.
The US$42,235,735.14 received in 2025 comprised revenue from two separate concession arrangements: US$38,081,786.42 from Mogadishu Alport Corporation, Albayrak-Somalia, in relation to Mogadishu Port, and US$4,153,948.72 from Favori LLC, in relation to Aden Adde International Airport.
Under the respective concession agreements, the Federal Government is entitled to 62.17 percent of the gross revenue generated by Mogadishu Alport Corporation, Albayrak-Somalia and 25 percent of the gross revenue generated by Favori LLC.
Regarding Mogadishu Alport Corporation, Albayrak-Somalia, the 2025 audit noted that independently audited financial statements were not available during the audit. As a result, the Office was unable to independently verify whether the US$38,081,786.42 received represented the Government’s correctly determined share under the concession agreement.
The Office has been engaging the Ministry of Ports and Marine Transport, Mogadishu Port management, and Mogadishu Alport Corporation, Albayrak-Somalia, on implementation of the relevant audit recommendation. Mogadishu Alport Corporation, Albayrak-Somalia, has committed to undertaking the required independent external audit.
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Regarding Favori LLC, the audit reported gross revenue of US$29,713,321.00 for 2025. Based on the 25 percent revenue-sharing provision in the concession agreement, the Government’s share amounted to US$7,428,330.25. The Federal Government received US$4,153,948.72 during the year, with the remaining amount identified in the audit for follow-up.
Following the audit, the Office received an audit commitment letter from Favori LLC concerning the matter. According to the company’s communication, its audited financial statements are expected to be available in 2027. This represents a subsequent development and will form part of the Office’s follow-up of the relevant audit finding.
The 2025 audit findings underscore the importance of compliance with concession agreements, timely submission of independently audited financial statements, and continued oversight of revenue-sharing arrangements involving public resources.
The findings form part of the Auditor General’s broader oversight of public revenue and concession arrangements. The Office continues to work with responsible government institutions and concessionaires to strengthen compliance with contractual requirements, financial reporting and accountability for public revenue.