Somalilandsun- The political wrangling between Somaliland and Somalia two formerly united countries that separated in 1991 is now set to affect various foreign investment contracts.
In Somaliland the saga revolves around the contract to manage the Berbera port awarded to DP World an Emirati Firm for a period of 30 years and worth $422m
In Somalia it is the Mogadishu port which is operated by Turkish firm Al-Bayrak which has a twenty year concession at the country’s main port.
According to the Journal of Commerce -JOC has been the authoritative provider of global intelligence for trade, transportation and logistics professionals for more than 150 years the Berbera and Mogadishu ports operation contracts granted foreign firms are under threat as a result of Political Wrangling between the two countries.
In a JOC report Turloch Mooney, Senior Editor, Global Ports informs that Port development contracts awarded to foreign entities in Somalia and Somaliland are under threat of revision after the publication of a leaked government report supported by the International Monetary Fund that recommends certain contracts awarded for marine ports should be renegotiated.”
Continue reading Political wrangling threatens Somalia, Somaliland port projects