Abu Dhabi’s crown prince, Sheikh Mohamed Bin Zayed, throws a $3 billion lifeline to cash strapped Ethiopia in the form of aid ($1bn) and investment package ($2bn). But, what’s the catch?
AARON MAASHO / REUTERS
The United Arab Emirates pledged a total of $3 billion in aid and investments to Ethiopia on Friday, an Ethiopian official said, a major show of support for the new prime minister, Abiy Ahmed.
The UAE will deposit
$1 billion in Ethiopia’s central bank to ease a severe foreign currency shortage, government spokesman Ahmed Shide told Reuters at a palace in Addis Ababa after Abiy met with Abu Dhabi’s crown prince, Sheikh Mohamed Bin Zayed. Continue reading UAE to Give Ethiopia $3bn Aid Package
Growing corruption, over-dependence on Ethiopia, mounting levels of public debt and competition from regional ports made Djibouti a risky place for longterm investment.
As countries across the Horn of Africa embark on ambitious programs to attract foreign investment, Djibouti seems a stable option in a volatile region. But there are risks, according to a new report by political and security risk consultancy Allan & Associates. Continue reading Djibouti: Attractive but Risky
“A tripartite port deal involving Emirate’s DP World, Ethiopia and Somaliland is detrimental to the sovereignty of the Federal Republic of Somalia and the unity of the country.” – Central government of Somalia
SARAH TOWNSEND | THE NATIONAL
The Republic of Somaliland has hit back against the Somalian prime minister’s on Friday that a tripartite port deal involving UAE ports operator DP World to grant Ethiopia a stake in the Port of Berbera was “ statement null and void”. Continue reading Somaliland Defends DP World Berbera Port Stake Sale to Ethiopia
Deal comes a week after Djibouti seizes Doraleh Container Port
In one of its designs to inflict economic damages to a ‘disobedient’ Djibouti, the UAE allowed Djibouti’s lone customer Ethiopia to acquire a 19 percent stake in Somaliland’s Port of Berbera.
Ethiopia has acquired a 19 percent stake in the Port of Berbera in Somaliland following an agreement with DP World and the Somaliland Port Authority.
The agreement leaves DP World as the majority shareholder in the port, with 51 percent. Somaliland will hold 30 percent.
Continue reading Ethiopia Acquires 19% Stake in DP World Berbera Port
Yemen’s Houthi rebels threatened to strike Somaliland’s Berbera port should the authority continue granting the United Arab Emirates with land for a military base.
JERRY OWILLI | CGTN AFRICA
Yemen’s Houthi rebel groups have threatened to strike Somaliland’s Berbera port should authority in Somaliland continue its lease agreement to the United Arab Emirates.
Somaliland – a semi-autonomous region in Somalia – is reported to have signed a deal with the UAE to have the latter use the Berbera Port as a military base.
Continue reading Yemeni Rebels Threaten to Strike Somaliland’s Berbera Port
BACKSTABBING. Ethiopia starts playing “Injera Diplomacy” against Somaliland with Somalia.
THE NATIONAL – SOMALILAND
The government of the Republic of Somaliland [not yet recognized] has officially responded to statements made by Ethiopia’s Prime Minister Hailemariam Desalegn last week during a joint press conference with Somalia’s President Mohamed Abdullahi Farmaajo, who was in the country on a state visit. Continue reading Somaliand Not Concerned by Ethiopian PM Comments: Minister