Dubai: The head of DP World stressed his company’s commitment to its investments in Somaliland on Thursday even after Somalia banned the ports operator from operating there.
Sultan Bin Sulayem, DP World Group chairman and chief executive officer, said that Somaliland has been independent for the past 28 years and has its own agreements with several companies and countries.
At a press conference, he also described separate actions taken by the government of Djibouti to ban DP World from operating there as “unfortunate” and “illegal,” stressing that the company is currently in an arbitration process with a London court.
“For Africa as a continent, this action is going to set them back. If countries can change their policies, it is going to make it more difficult to attract investments in Africa in general. Banks will be very careful in financing in Africa,” Bin Sulayem said.