Updated

A former prime minister who holds dual Somali-U.S. citizenship has been declared Somalia's new president.

Incumbent President Hassan Sheikh Mohamud conceded defeat after two rounds of voting Wednesday, and former prime minister Mohamed Abdullahi Farmajo was declared the new leader and quickly took the oath of office.

"History was made, we have taken this path to democracy, and now I want to congratulate Mohamed Abdullahi Farmajo," Mohamud said.

This Horn of Africa nation is trying to put together its first fully functioning central government in a quarter-century.

The election took place under heavy security amid threats from extremist group al-Shabab.