Ethiopia Cedes Stake in Berbera Port

Jun 11 , 2022

The federal government has lost a 19pc stake in the Berbera Multi-Purpose Port, according to Somaliland officials. It effectively voids the terms of a deal struck in 2017 between the government, DP World, and the Somaliland Port Authority. The government of Somaliland, a self-declared state, owns a 30pc stake in the Port, while DP World accounts for the majority 51pc. Somaliland officials say the Port will still be available to serve as an alternative to ports in Djibouti. DP World Berbera, a joint venture company, will serve landlocked countries in the Horn of Africa such as Ethiopia, which ferries 13.5 million tonnes of imports and 1.8 million tonnes of export cargo annually through ports in Djibouti, representing nearly all trade shipments of the country.