IT SEEMED an irrational decision 20 years ago. DP World is one of the world’s largest maritime firms. From a squat office overlooking Dubai’s bustling Jebel Ali port, it directs operations in 40 countries. Most are in busy shipping hubs such as London and Rotterdam. But in the 1990s it started making surprisingly big investments in the Horn of Africa. It built a large port in Djibouti, and is now working on another in Somaliland (see map). The combined GDP of the two African entities is smaller than that of Moldova. Yet the firm sees the region as a land of opportunity.
So do the rulers of United Arab Emirates (UAE), one of whose...Continue reading
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