Somaliland Minister of Finance DR. Saad Ali Shire, said Ethiopia’s 19% stake in Berbera Port had collapsed. The minister, who was a guest on a program broadcast by Horyaal TV, said that only Somaliland and DPworld have the benefit of the Berbera port, and that Ethiopia has nothing to do with it.
“DPworld Berbera shares are owned by DPworld and Somaliland, Somaliland owns 35% and DPworld owns 65%, and the agreement reached there is not part of Ethiopia,” said Minister Shire.
Minister Shire said that no formal agreement had been reached with the Ethiopian government for a share of the Berbera Port, and that there was only a consensus on the matter, which did not materialize.
“In February 2017, at a conference in Abu Dhabi attended by Ethiopians, there was an agreement to give 19% to the Ethiopian government but it was not implemented,” said Minister Shire.
The collapse of the memorandum of understanding for a 19% stake in the Berbera Port to Ethiopia, puts DPworld at 65% and Somaliland at 35%, according to Minister Shire.
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