Financial Governance Report 2021

One of the only few reports that I have seen that doesn’t include Somaliland data.

However, they still included into the Map they got in their cover-page. Which is a pity.

Mogadishu port concession
In October 2020, after two years of negotiations,
the FGS signed a revised port agreement with Al
Bayrak, the Turkish firm that has been managing
the Port of Mogadishu since 2013. The revised
agreement runs until 2034. It sets aside US$52
million of port revenue for investments in port
infrastructure during the first five years. It also
specifies a procedure for the FGS and Al Bayrak
to agree on a long-term plan covering port
investment from years six to fourteen, and enables
the FGS to terminate the agreement after five years
if the long-term plan is not acceptable. The FGS
is required to play an active role in implementing
the revised agreement. The FGC has recommended
that the FGS seek further technical assistance to
assist it in fulfilling its obligations

### Financial Governance Report 2021

This Bayrak group has been leeching Somalia dry for 8 years with little investment.

Before and after



A few cranes, stacker vehicles and containers rearranged.

I think you missed the highlighted text in my post. They agreed to set aside 52 million from the revenue of the port towards investment into the port. This is not new money, this is essentially as the old saying goes “to rob Peter to pay Paul” so to speak.

Al Bayrak is not bringing anything to the table other than providing professional management of the port. I think this is the biggest robbery in modern history, but “Reer Koonfur” know it not. They are fixated at Berbera Port, which is million times better.