Ethiopia, Djibouti May Swap Stakes in Airlines, Ports

Ethiopia and Djibouti agreed to swap stakes in strategic public enterprises including airlines, ports and telecommunications companies, as the Horn of Africa neighbors pursue deeper economic integration.

The deal would include exchanges of shares in Ethiopian Airlines Enterprise, Africa’s biggest carrier by revenue, Djiboutian Finance Minister Ilyas Dawaleh said in an interview. Shareholdings in companies such as the Doraleh Container Terminal and in a new oil terminal, Ethiopian Telecommunications Corp. and Djibouti Telecom SA will also be swapped, he said.

While the deal has been politically “endorsed,” the two countries will form a committee to work out the details, Dawaleh said by phone April 30. Ethiopian Information Minister Ahmed Shide confirmed the agreement in a text message.

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