Ethiopia Eyes Role in DP World-Managed Port in Somaliland

 

Ethiopia is in talks to acquire shares in a joint venture involving DP World Ltd. that will manage a port in northern Somalia, a Somali official said, a move that could give the fast-growing yet landlocked Horn of Africa economy its first stake in foreign docks.

Somaliland, a semi-autonomous territory that aspires to statehood, has agreed “in principle” to give Ethiopia a 19 percent share in the venture administering Berbera port, according to Foreign Minister Saad Ali Shire. Somaliland’s government and Dubai-based DP World, which has a 30-year concession to manage and develop the facility, will be the majority shareholders in Somaliland-registered DPW Berbera, he said in an interview.

READ MORE:  https://www.bloomberg.com/news/articles/2017-06-08/landlocked-ethiopia-eyes-role-in-dp-world-managed-somali-port

 

This post is also available in: soSomali

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