Ethiopia buys 19% stake in Somaliland’s Berbera port deal

May 14, 2017

(Wargane)

The President H.E. Ahmed Mohammed Mohamud Silanyo said that he was highly honored for attending the official launching of Berbera Port as a DP World investiture.

He said that the Berbera Port’s takeover by the DP World to be one of the 78 ports and terminals they ran was indeed a milestone for Somaliland as far as progress and development was concerned.

The Head of State pointed out since there was a cut-throat competition in the trade sector and that it was incumbent upon him to do what was best for the country as far as foreign   investment was concerned hence the steps taken towards the modernization and expansion of Berbera Port, and its management.

“As the President I have realized this dream of expanding and modernized the port, a fact which will change the lives of many people for the better”, said the President.

He noted that the steps taken by the DP World will be an impetus to beckon other investment opportunities.

The DP World Chief executive officer Sultan Ahmed Bin Sulaym rightly pointed out that what bedevils the African economy or developing countries is mainly poor infrastructure which made importation costly.

He said that his institution was ready to work with the government to bolster priority areas.

The Ethiopian state minister for transport who was at the ceremonies, both launching and dinner, noted that the DP world investment would go down well for progress especially integrating Ethio-SL connection trade and energy.

Ethiopia has been given a 19% stake that makes the investiture a tripatrate between SL, UAE and Ethiopia.

Meanhile, the President H. E. Ahmed Mohammed Mohamud Silanyo jetted back to the capital yesterday afternoon, courtesy of a private jet owned by a Kuwait Amir residing in Berbera.

The President was welcomed at the airport by the Presidency minister, several cabinet members, the regional governor, the mayor and several politicians.

He was welcomed triumphantly with hilarious ululations by members of the public who lined up along the roads as his convoy headed for the Presidency.

The VP H.E. Abdirahman Abdillahi Ismael  Seili’i was at hand to welcome him at the State House.

The President was acoompanied by the First Lady Amina Sheikh Mohammed Jirde (Amina Weris).

The Presidency Spokesman thanked the members of the public for the warm reception they accorded their Head of State.

Eng. Hussein A. Egge noted that the DP World’s takeover of the management of Berbera Port and its investments to the same cause would go down well in upgrading the state coffers.

He said that developmental initiative undertaken was not only momentous but indeed of monumental impact.

The Spokesman clarified the fact that the 19% given to the Ethiopian government did not touch on the 35% SL share but the 65% UAE one.

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Source: Wargane.com.

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