Ethiopia takes 19% share in Berbera port for free

[Bohol]

"Foreign Minister Shire denied that Ethiopia had any concerns over the UAE
deals. He added that Ethiopia recently has been brought on board in the port
deal, and will have a 19% stake in the port itself, taking 5% of the total from
Somaliland’s originally agreed-upon shares, and 14% of the total from DPWorld.
That leaves DPWorld with a majority stake of 51% and Somaliland with just 30%,
compared to 35% in the original agreement. Shire said this change to the deal was
done for purely economic reasons."



Full article

Testing the waters: Somaliland dives into the international arena
April 3, 2017
https://messengerafrica.com/2017/04...omaliland-dives-into-the-international-arena/

 

[Bahal]

 

[waraabe]

I don't mind if they stick to their 30% imports/ exports coming in from Berbera, the SL gov needs to push more, 40% and 50% within few years

 

[Prince of Lasanod]

So Ethiopia profits from using Berbera port?

kkk

 

[oday1kenobi]

Too easy for landlocked Ethiopia.

Hell at this rate, they can forgive and ignore Eritrea and annex Berbera and Saylac for free!

 

[DrippinglyWet]

How much is SL - Ethio trade worth ?

 

[Bahal]

How on earth do they get a 19% stake in a port in another country

 

[oday1kenobi]

"purely economic reasons"

More like fucking swindling corruption

 

[Prince of Lasanod]

Imagine these people want to share my oil when they are selling 20 % of their port for free

 

[Burhan]

How on earth do they get a 19% stake in a port in another country

I am surprised. Somaliland is officially a colony of Ethiopia.

What has Ethiopia done to earn this share into that port?

 

[waraabe]

How on earth do they get a 19% stake in a port in another country

They simply agree to use the port for their imports/exports and as a result get a say in how the port is ran. I have no issue with this but the SL government should've equally asked for an increase on the 30% trade they agreed with Ethiopia

 

[Bahal]

I am surprised. Somaliland is officially a colony of Ethiopia.

What has Ethiopia done to earn this share into that port?

It's obviously appeasing the Ethiopians.

SL could've had a 49% stake, so much more money for development

 

[waraabe]

I am surprised. Somaliland is officially a colony of Ethiopia.

What has Ethiopia done to earn this share into that port?

They will use Berbera for 30% of their imports/exports

 

[Burhan]

Imagine these people want to share my oil when they are selling 20 % of their port for free

That hit me in the gut. Reading they take the port's income at that rate for free.

What a disgrace.

 

[Bahal]

They simply agree to use the port for their imports/exports and as a result get a say in how the port is ran. I have no issue with this but the SL government should've equally asked for an increase on the 30% trade they agreed with Ethiopia

Sxb they get a stake that's 63% of SLs stake.

This deal is only second to the one Fatboy made to sell out waters to Kenya

 

[Gilgamesh]

The whole corridor is banking on Ethiopia's huge market, there has to be some incentive for the Ethiopians to divert some market share from Djibouti to Berbera.

 

[waraabe]

It's obviously appeasing the Ethiopians.

SL could've had a 49% stake, so much more money for development

Not really if the Mogadishu port was taken for $80m for 20 years plus 25% for Somalia I believe the SL deal (a first for the gov of SL) was actually decent ($440m for 25 years plus 35% plus 30% of Ethiopias trade)

Unfortunately at the current time that is the best we can do

 

[Hemaal]

if it's true

 

[Prince of Lasanod]

Not really if the Mogadishu port was taken for $80m for 20 years plus 25% for Somalia I believe the SL deal (a first for the gov of SL) was actually decent ($440m for 25 years plus 35% plus 30% of Ethiopias trade)

Unfortunately at the current time that is the best we can do

$440m will all be pocketed by your government, and it's 30 % not 35 %. So basically, you sold 20 % of your port to Ethiopia for a deal that's only 5 % better than Mogadishu port.

That's not even including the billions of dollars that Turkey will spend on development.

 

[Burhan]

They will use Berbera for 30% of their imports/exports

Saaxib, they are using the port out of permission and as friendly neighbor in need of a port is one thing, giving the income generated from the port to them 19% for free is gunnimo.

Streets, water, sewage and airport renovation projects could be funded with that money.

Nasabnimadii waa laga tagay.