Somalia’s Puntland in Port Talks With DP World, President Says

The government of Somalia’s semi-autonomous region of Puntland may award a concession to DP World Ltd. to develop the port of Bosaso, President Abdiweli Mohamed Ali said.

Ali traveled to Dubai last week to discuss the concession, he said in an interview March 21 in the Ethiopian capital, Addis Ababa, where he was on an unofficial visit. Michael Vertigans, a spokesman for DP World, declined to comment beyond saying the company continues to seek opportunities in Africa.

“The discussion is ongoing,” Ali said. “It hasn’t yet been finalized.” He declined to provide further details.

Puntland, situated on the tip of the Horn of Africa, declared autonomy in 1998 and severed ties with the Somali government in August 2013 after accusing the government of failing to distribute power and share resources including foreign aid with the region.

While it’s been relatively stable compared to southern Somalia, which has been fighting an Islamist insurgency for the past decade, it has faced attacks by al-Qaeda-linked al-Shabaab and Islamic State militants.

SOURCE:BLOOMBERG