Djibouti’s Geothermal Agency Deficit Widens to 98 Million Francs

Djibouti's government disclosed a much wider financial shortfall at its geothermal development office in newly presented 2025 accounts on 3 November 2026. The Office Djiboutien de Développement de l'Énergie Géothermique (ODDEG) reported 291,361,287 Djiboutian francs in revenue and 389,353,640 francs in charges, a difference of 97,992,353 francs.

A TFNOS comparison with the cabinet's separately published 2024 accounts shows the gap increased by 84,140,082 francs. The 2024 statement recorded 410,323,681 francs in revenue and 424,175,952 francs in charges, implying a 13,852,271-franc shortfall. Both calculations subtract revenue from charges; neither describes money stolen, a missing payment or an auditor's finding of fraud.

Operating subsidy fell as spending declined more slowly

The latest cabinet release says ODDEG's annual revenue dropped by approximately 119 million francs, or 28.99%. It attributes most of that fall to a 111.2 million-franc reduction in the national operating subsidy. Charges also fell by about 34.8 million francs, or 8.21%, but the reduction was not enough to offset lower revenue.

The previous cabinet account described a 2024 subsidy of about 360.2 million francs, up from 337 million in 2023. The two annual disclosures therefore document a significant reversal in government support. They do not establish the reasons for the 2025 reduction or the effect on specific geothermal projects.

ODDEG's newly disclosed 2025 balance sheet stood at approximately 4.065 billion francs, compared with 4.127 billion in 2024. The statement identifies approximately 3.764 billion francs in net fixed assets and 222.3 million in stock. Those assets should not be confused with cash available to meet annual expenses.

Parliamentary and project-level questions remain

The figures were presented as part of a draft law to approve ODDEG's definitive 2025 financial accounts. Cabinet consideration does not establish that the measure has been enacted by parliament or that a separate external audit has endorsed every line item.

A different government decision in December 2025 set a balanced *projected* 2026 ODDEG budget of about 1.329 billion francs, including roughly 833.9 million francs for planned investment. A forecast for 2026 is not evidence of actual spending in 2025 and should not be substituted for the latest accounts.

The office's earlier plans include geothermal drilling and exploration at Galla-Le Koma, Hanlé-Garabayis and Fialé. The 3 November accounts do not give the individual contract awards, suppliers, disbursements or drilling milestones that would permit a project-by-project assessment of how resources were used.

In March 2026 the World Bank separately approved a Djibouti economic-diversification programme that includes stronger governance of state-owned enterprises and public procurement. That programme does not identify this agency as a beneficiary and is context, not proof that ODDEG's shortfall involves wrongdoing.

The next checks are the full signed financial statements, any independent audit opinion, parliamentary disposition, subsidy decisions and project-specific contract and delivery records. The verified finding today is that reported charges exceeded reported income by nearly 98 million francs in 2025, sharply more than in 2024.