How does Al-Shabaab have so much money?
Group Profile
As we reported in our Global Terrorism Financing Report for December, Somali government forces have recently captured or killed high ranking Al-Shabaab financial operatives. These operatives include Mohamed Mire Jama, a top leader, who served as a finance chief and was responsible for financing the 2013 Westgate Mall and 2019 DusitD2 Complex Attacks.
Al-Shabaab funds its operations through imposing taxes, controlling trade routes, and smuggling goods, among other methods. In February 2025, the UN reported that the group’s annual revenue ranges between $100-$200 million.
Keep reading to learn about the many ways that Al-Shabaab raises funds.
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Origins and Operations
Al-Shabaab, meaning "The Youth" in Arabic, emerged in Somalia around 2004 as the youth wing of the Islamic Courts Union (ICU). Following Ethiopia's 2006 invasion and dismantling of the ICU, Al-Shabaab became an insurgency, gaining control of southern and central Somalia. By 2009, the group pledged allegiance to al-Qaeda and became an official affiliate in 2012.
Al-Shabaab conducted its first attack outside Somalia in 2010, killing 74 civilians in Uganda. It intensified operations against Kenya following the country’s 2011 military intervention, with the 2013 Westgate Mall attack in Nairobi killing 67 people. The 2019 DusitD2 complex attack also gained global attention after Al-Shabaab claimed responsibility for killing 22 individuals and injuring an additional 30.
The group operates in Somalia, Ethiopia, Kenya, Djibouti, Tanzania, and Uganda. Al-Shabaab has an estimated 5,000 to 10,000 fighters, and was responsible for over 2,500 violent events and 6,000 fatalities in 2022/2023.