Thread by @GuledWiliq

In my latest study, I have examined Turkish private Co. 10yr concessions in Somalia, and uncovered the following:
1- Favori LLC increased its rev. share from 55% to 96%.
2-While Albayrak has increased its rev. share from 45% to 84%.
Let me explain how it happened #Thread #TABEF

in 2014 Auditor-General Nur Fahar wanted to audit Favori LLC and Albayrak concessions but was blocked by both companies. In 2015 @SahraCabdi with @voasomali interviewed him; where he raised his concerns and lack of corporation from Favori LLC & Albayrak.
voasomali.com/a/3123023.html

Lo and behold, Nur Farah's decries prompted the parliament to form Somalia’s Financial Government Committee (FGC) to review all public procurement and concessions: published a detailed report with recommendations. However, the FGC failed to audit the revenue share.

In 2017, the first thing PM Khaire @HassanAKhaire
did was illegally firing Nur Farah to cover up corruption. The auditor general protested the unlawful sacking which violates Article 114 of Somalia's constitution; only the parliament could do so.
hiiraan.com/news4/2017/may…

You have to wonder, why Albayrak is hiding its revenue, so I made some digging & found out that before Albayrak took over port management in 2014, the port rev was $6M/month reported @newhumanitarian & ultimately has increased to $10M/month per Prof Breden @cannon_brendon

it turns out based on the UN monitoring report, Albayrak has artificially inflated its expenses with dubious claims & decided to reduce monthly rev. payment to $1M from $10M. This reduced Somalia Gov rev. share from 55% to 16% while increasing the company’s from 45% to 84%.

Something similar happened in Guinea when Alpha Condé, the now-deposed president and a friend of Erdoğan, awarded Albayrak a 25-year lease for the port of Conakry and 82% of duties in what was widely perceived to be a sweetheart deal.
nordicmonitor.com/2019/09/albayr…

According to a 2016 U.N. report, Favori LLC has inflated its expenses to maximize its profits, reporting revenue of $1.16M/month & expenses of more than $500K compared to revenue of an estimated $8M to $10M/month before it took over management of the airport.

Doing so, Favori LLC has increased its revenue share from 55% to 94% and reduced the Somalia government share of the revenue from 45% to just 6%. This does not include even Decal Hotel revenue and other illegal revenues that were not part of revenue sharing per 15 yr concession.

The red circle area was supposed to be a parking lot for airport customers, but Favor LLC illegally built a hotel & shopping mall. It's not clear if the revenue generated from the Decale Hotel, which is a Somalia gov asset, is supplemental rev for Favori LLC.

Favori LLC violated its contractual obligations by collecting illegal fees that should have been passed on to the Somali Civil Aviation & Meteorology Authority. The illegal fees include landing, air navigation, parking, passenger safety, freight, & fuel.

Favori has also failed to reconstruct the airport’s main runway & neglected airport maintenance& safety...Issues that should have been addressed in 2013 are only now being discussed. Due to operation safety issues, Mogdisshu Airport could be closed.

This study is to bring awareness about the predatory practice of the Turkish gov and hope the public and politicians engage in open and honest discussions on Turkey's role in Somalia. The End.
mei.edu/publications/f…