Ethiopia diversifies trade access with Sudan and Kenya port investments

Port Sudan Ethiopia has struck a deal to take a stake in Port Sudan as well as become a shareholder. Credit: Bunks at German Wikipedia https://commons.wikimedia.org/wiki/File:PortSudan_NCT.jpg

Ethiopia will take a stake in Port Sudan in its latest deal to boost and diversify its maritime business.

The deal was reached at a meeting between Ethiopia’s Prime Minister Abiy Ahmed and Sudan President Omar al-Bashir.

“The leaders of both countries agreed to develop Port Sudan together,” said Meles Alem, spokesman for Ethiopia’s Foreign Ministry, reported The Sundanese Media Center.

Mr Alem added: “This deal entails that Ethiopia will be a shareholder of the port as well.”

No financial details of the agreement were disclosed.

Lamu deal

Ethiopian diplomats and Kenyan leaders have also announced an agreement to give Ethiopia a lease at Kenya's new Lamu Port for logistics purposes, according to the Maritime Executive.

The agreement comes with a joint commitment to improve the road and rail links between Addis Ababa and the Kenyan border.

Last month Ethiopia also reached a deal to take a share in Djibouti’s Port of Djibouti under an agreement reached by both countries — though the size of the stake has not been confirmed.

In February DP World stated Ethiopia would take a 19% stake in the Port of Berbera in Somaliland, however Somalia later said the deal was unlawful, sparking ongoing pressure on DP World to scrap the deal.

Ethiopia, which is a landlocked country and Africa’s second-biggest in terms of population, currently sees Djibouti handle roughly 95% of all inbound trade for it.

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