Ethiopia diversifies trade access with Sudan and Kenya port investments
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.
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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