According to Somaliland’s government, Ethiopia no longer owns a 19 percent share in the Port of Berbera. The deal reached in 2017 between Ethiopia, DP World, and the Somaliland Port Authority has been reversed, wrote The Reporter Newspaper.
According to the Newspaper, “Ethiopia failed to meet the requirements for obtaining the stakes by the deadline. Ethiopia was offered the opportunity to buy the share, but it declined because it did not meet some of the conditions necessary to finalize the sale, according to a Somaliland official.
The port’s largest shareholder was DP World, with a 51 percent stake based on a 2017 agreement, and Somaliland had a 30 percent stake. Ethiopia’s proposed transfer of a 19 percent stake to DP World and Somaliland’s government. The former now owns 65 percent of the port, while the latter owns the remaining.
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