KEYIR NEWS - Somaliland’s Central Bank Governor, Abdulnasser Ahmed Hirsi, has urged the urgent improvement of financial and insurance protocols to accelerate the implementation of the agreement opening Berbera Port to Ethiopian trade.
The remarks came during a high-level meeting in Addis Ababa with Mamo Mehretu, Governor of the National Bank of Ethiopia, where the two sides explored ways to strengthen economic and financial cooperation.
Discussions centered on modernizing banking frameworks to support the anticipated surge in trade. The officials agreed to collaborate on payment and settlement systems, foreign exchange management, trade finance, anti-money laundering measures, and licensing frameworks for financial technology services.
Mamo pledged to expedite the process by engaging Ethiopia’s Ministry of Foreign Affairs to help finalize the outstanding protocols. Both governors stressed that streamlined financial cooperation is critical not only to unlocking the full potential of the Berbera Port agreement but also to fostering mutual economic growth and regional stability.
The Berbera Port deal, viewed as a strategic lifeline for Ethiopia’s growing import-export needs, is also seen as a key driver of Somaliland’s economic integration into the Horn of Africa’s trade network.