Ethiopia intentionally looses it's 19% stake and share in DP world owned port of Berbera in Somaliland Somalia

[Manafesto]

Wow,I don't believe this,why is Ethiopia not willing to get this free 19% in Berbera port? It is not like they invested a penny in the contract too, I just don't understand walahi,can someone explain this?

 

[ZodiaK]

The Brits got their share.


DP World has announced the creation of an investment platform in partnership with the UK's development finance institution and impact investor CDC Group (CDC).

The platform covers a long-term investment period. DP World is contributing its stakes in three existing ports initially and expects to invest a further $1 billion through the platform over the next several years. CDC (now called BII) is committing approximately $320 million initially and expects to invest up to a further $400 million over the next several years.

The platform will invest in origin and destination ports, inland container depots, economic zones and other logistics across Africa to increase trade, create new job opportunities and broaden access to essential goods. It will initially be seeded with minority stakes in existing DP World assets with significant capacity expansion plans, including Dakar (Senegal), Sokhna (Egypt) and Berbera (Somaliland). Trade enabled through the ongoing expansions is expected to create an additional 138,000 employment opportunities in the wider economy. By 2035, the ports are expected to support stable employment for around 5 million people indirectly.


As the first major foreign direct investment (FDI) and first non-mineral international concession known in Somaliland, CDC’s investment will help demonstrate investability and serve as a catalyst for further private sector FDI in the region. The partnership will also invest in a number of associated logistics projects that will further bolster trade capacity, including the Special Economic Zone outside the town of Berbera.

Watch this space.....

 

[0117]

This is old news that has resurfaced due to a recent interview.

There were set conditions made in which Ethiopia had to fullfil inorder to obtain the 19% share of the port.

You have to keep in mind this original 19% were agreed when the TPLF were in charged in 2017 and there has been a new regime.For some reason fail to materialize the deal.

A big L for Ethiopia and ironically one of the biggest negatives of this deal for SL which was giving out a share to another country is now gone Alhamdullillah.

 

[World]

Why does only 5 % of Ethiopia’s share go to Somaliland and 14 % to DP world?

 

[0117]

Why does only 5 % of Ethiopia’s share go to Somaliland and 14 % to DP world?

The original agreement signed in 2016 was

65% DP World
35% Somaliland

Ethiopia came into the agreement a year later and both DP World and Somaliland gave up shares.

 

[Al-Ma'mun]

Either Way the Ethiopians benefit from the upgrading of Berbera and were present in the inauguration of the port with the Minister of Transport,Axmed Shiide & Regional President of K5 Mudane Cagjar

 

[Coastal]

Somaliland should divide it's 35% share equally between all 3.5 million citizens.
The people can then sell their shares or keep them and receive dividends in the future.

 

[bidenkulaha]

We’ve sold 4 ports to Ethiopia in Somalia. Maybe they are more interested in 100% ownership lol

 

[Galmudug-State]

We’ve sold 4 ports to Ethiopia in Somalia. Maybe they are more interested in 100% ownership lol

They can't have that now that HSM. Can a langaab gedo gaajo give our ports away, never.

 

[Manafesto]

Somaliland should divide it's 35% share equally between all 3.5 million citizens.
The people can then sell their shares or keep them and receive dividends in the future.

That would solve the low levels of poverty,help with the massive inflation and even might help stop mass immigration of Somalilanders to neighboring jobs for jobs, but alas, Somaliland leaders are corrupt, selfish and self centered fools who care about their pockets and nothing else.

 

[Coastal]

That would solve the low levels of poverty,help with the massive inflation and even might help stop mass immigration of Somalilanders to neighboring jobs for jobs, but alas, Somaliland leaders are corrupt, selfish and self centered fools who care about their pockets and nothing else.

The same thing should be done all across Somalia. All airports and seaports should be privatised and shares should be distributed equally among the citizens.

All natural resources should be auctioned and the yearly profits be automatically paid to the people. This has been successfully done in Alaska.

This would solve all security and corruption issues at ports because shareholders can vote the board out.
The efficiency and productivity of these airports and seaports would skyrocket as jobs won't be given based on clan or political lobbying but rather on the ability to provide profit for the shareholders.

Al shabaab would lose local support as well because to have access to the shares and yearly dividend you will have to live in a government controlled area.