By Nizar Manek, 8 June 2017
- Fast-growing economy said to be seeking stake in Berbera port
- Somaliland coastal city will also host a U.A.E. military base
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.