Africa > East Africa > Djibouti > Banking / Investment

Banking / Investment in Djibouti

  • Africa's last international banks make their stand

    BOTSWANA, 2017/10/31 On June 1, 2017, Barclays sold a 33.7% stake in its African business, Barclays Africa Group Limited (BAGL). The transaction reduced the UK lender’s stake in its African offshoot to 14.9% and permitted, in accounting terms, the deconsolidation of BAGL from its parent. Additional symbolically, it brought to an end Barclays’ operations on the continent next additional than 100 years. The rise of Africa’s home-grown financial players has led most international lenders to withdraw from the continent. However, Société Générale and Standard Chartered are not only staying put but marking territory for digital expansion. James King reports.
  • Why governments need to support the financial sector to meet the unserved needs of smallholder farmers

    BOTSWANA, 2017/09/09 This year, under the leadership of H.E. President Alassane Ouattara and the theme of “Accelerating Africa’s Path to Prosperity: Growing Inclusive Economies and Jobs through Agriculture”, the African Green Revolution Forum (AGRF) 2017 is shaping up as a premier platform to showcase ongoing evolution in Africa’s agricultural transformation schedule and to scale up the political, policy, and financial commitments needed to achieve the Malabo Declaration and the world development schedule around the Sustainable Development Goals (SDGs). Following the launch of the landmark annual Africa Agriculture Status Statement (ASSR) at the AGRF taking place in Cote d’Ivoire from 4-8 September 2017, the major conclusion centres around the power of entrepreneurs and the free market in driving Africa’s economic increase from food production. This is owing to the fact that a lot of businesses are waking up to opportunities of a rapidly growing food market in Africa that may be worth additional than $1 trillion each year by 2030 to substitute imports with high price food made in Africa.
  • Djibouti takes steps to overhaul banking sector

    DJIBOUTI CITY, 2016/06/19 Djibouti’s banking regulator has unveiled a series of reforms that seek to improve the efficiency and health of the country’s lenders, and expand sharia-compliant financial services. The regulatory overhaul, which is set to be rolled out this year, includes plans to improve operational efficiency and set up a new credit data system to help banks manage credit risk. The measures are in line with a raft of reforms introduced by the Central Bank of Djibouti (Banque Centrale de Djibouti, BCD) in recent years aimed at strengthening the position of local lenders and increasing transparency.
  • East Africa: Regional Microfinance Institutions Advised to Apply for Observer Status

    DJIBOUTI CITY, 2015/01/04 Regional microfinance institutions are poised to benefit from regional integration, if they apply for an observer status at the East African community secretariat, Innocent Safari, the permanent secretary, Ministry of East Africa community affairs has said. The advice follows plans by sector players to move towards integrating legal and regulatory frameworks during the recently concluded microfinance CEO's summit in Kigali. During the summit, top micro finance managers resolved to explore ways in which laws, regulations and supervisory frameworks governing the sector can be harmonised to enhance cross-border business.
  • Saudi Arabia to Loan Djibouti U.S. $5 Million for Business Development

    DJIBOUTI CITY, 2013/09/09 Representatives from the Djiboutian government and the Saudi Fund for Development on Thursday (September 19th) signed a nearly $5-million (898-million franc) loan agreement to support Djiboutian economic development, the Djiboutian Data Agency reported. The agreement, signed by Djiboutian Minister of Economy and Industrial Finance Ilyas Moussa Dawaleh and Yousef Bin Ibrahim al-Bassam, vice president of the Saudi Fund for Development, is intended to finance a number of projects in areas such as agriculture, fishing, transport and trade. The agreement is as well intended to diversify the national economy by funding small and medium enterprises and creating 2,400 jobs for Djiboutian graduates. A significant proportion of the funding has been reserved for women.