Sa’ad Ali Shire: Ethiopia has no 19% stake in Berbera Port

[Deeq A.]

An Ethiopian government delegation arriving in Hargeisa in June 2021

Hargeisa (PP News Desk) — The Finance Minister of Somaliland Administration Dr Sa’ad Ali Shire said that Ethiopia had no 19% share of Berbera Port. “There was a verbal agreement reached in the United Arab Emirates about 19% share of Berbera Port to be acquired by the Ethiopian government, but it has not become a reality” said Shire.

Dr Said Ali Shire denied that Ethiopia had 19% stake in Berbera Port in the first place.

Dr Shire made no reference to 2021 inauguration ceremony held in Berbera and attended by Ethiopian Finance Minister Ahmed Shide to launch a port expansion project and 19% shareholding acquired by the Ethiopian Government. “Under the Berbera Port Agreement DP World owns 65% shares, Somaliland Administration has 35%” added Shire.

Somaliland Administration President Muse Bihi Abdi (right) with Ethiopia Finance Minister in Hargeisa in June 2021

As a land-locked country, Ethiopia is diversifying its dependence on foreign ports, and looks into taking advantage of commercial opportunities afforded by Lamu Port and Southern Sudan-Ethiopia Transport Corridor.

How Khaleej Times reported the ‘verbal agreement’ in 2018

The Finance Minister’s statement comes in the wake of a visit to Addis Ababa in January by Somaliland Administration President Muse Bihi Abdi.

© Puntland Post, 2022

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