Mereja.Forum

Ethiopia no longer holds 19 percent stake in the Port of Berbera, the government of Somaliland said. It is reversal of the agreement made in 2017 between Ethiopia, DP World and the Somaliland Port Authority.
Though Ethiopia was offered to buy the stake, it failed to utilize the opportunity since it did not fulfill some of the conditions required to complete the deal, an official of Somaliland said.
DP World was the majority shareholder in the port, with 51 percent share based on the deal signed in 2017, and the share of Somaliland being 30 percent. Ethiopia's proposed 19 percent share transferred to DP World and the government of Somaliland. Now the former owns 65 percent of the port, whereas the remaining is under the ownership of the latter.
"Ethiopia failed to meet the conditions needs to acquire the stakes before the deadline. So it has no stake now, but it needs to noted that ownership does not matter," said Saad Ali Shire, Minister of Finance.