Addis Ababa — The Red Sea state of Eritrea may play a key role in DP World’s plans in the Horn of Africa, where a dozen ports could be needed to service the region, CEO Sultan Ahmed bin Sulayem said. The Dubai-based state-controlled harbour operator is evaluating its strategy in the region after having its stake in a port in Djibouti — the main trade route for Ethiopia, Africa’s fastest-growing economy — nationalised by the government. Developing more ports in the Horn, including one it is already building at Berbera in the self-declared republic of Somaliland, will help boost trade flows to Dubai, Bin Sulayem said in an interview. Eritrea’s strategic location near the Bab el-Mandeb Strait, a key shipping lane used by oil tankers and other cargo vessels en route to the Suez Canal, makes it an attractive investment destination for logistics companies. It is also a gateway to other nations in the region, the CEO said. “Eritrea is going to have a major role,” Bin Sulayem said. “We beli...
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