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Analysis

Careful decision making vital to tempering Djibouti's rapid expansion
OBG
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Djibouti’s economic strategy, as outlined under the Djibouti Vision 2035 plan, is in large part dependent on growth led by construction activity and infrastructure spending. While much of the $14bn worth of ongoing or planned projects is being financed directly by overseas investors, a large percentage is also being funded from the government’s budget, or with financing assistance from development…

Analysis

Improvements in infrastructure and regulation to improve trade conditions in Djibouti
OBG
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With its strategic position on the Gulf of Aden, along a primary Europe-Asia shipping route, and its status as an entry-point to the hundreds of millions of consumers in East Africa, Djibouti’s economic strategy is predicated on leveraging its potential as a trade platform. This stance is supported by ambitious plans to build new ports, airports and railways, and to significantly raise transport…

Analysis

Plans to develop Djibouti's agriculture and fishing to promote food and employment security
OBG
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The goal of diversifying Djibouti’s economy will depend on raising the contribution of several sectors to the country’s GDP. Among the government’s priorities are the expansion of agriculture and fishing activities. The contribution of agriculture to the national GDP is expected to increase from 3.7% in 2012 to 4.1% in 2022 and 5% of GDP by 2035, according to government plans stated in the Djibouti…

Analysis

Islamic finance in Djibouti could boost banking penetration
OBG
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Amid the steady expansion of Djibouti’s financial sector over recent years, Islamic finance has been taking an increasingly prominent role. Of the 10 existing banks in late 2015, four were Islamic, and the segment currently accounts for between 15% and 20% of the overall market. According to fourth-quarter 2015 information from the Central Bank of Djibouti (Banque Centrale de Djibouti, BCD) the…

Analysis

Growing participation in Djibouti's financial services sector due to greater competition
OBG
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Djibouti’s banking sector, which was a duopoly until as recently as 2006, has seen a wave of development in recent years, and the scope for further growth is significant. Recent years have seen lending rise exponentially as new players have entered an increasingly well regulated market: credit allocated to the private sector grew from 20% of GDP in 2005 to 29.5% of GDP in 2015, according to data…

Analysis

Djibouti insurance industry seeks greater profits
OBG
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Despite its limited size, with only two companies currently in operation – Assurance AMERGA and GXA Insurance – the Djiboutian insurance sector has enjoyed relatively steady growth, particularly over the past decade and a half. A number of reforms in 2000, followed by the more recent rise in capital investment and foreign investment in Djibouti, has brought new non-life opportunities, and while…

Analysis

Investment in Djibouti's new port infrastructure continues
OBG
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Djibouti is currently undergoing an infrastructure expansion that will require the mobilisation of over $14bn, a large component of which will be allocated to the establishment of new ports and terminals across the country’s coast. Long History Djibouti’s has long played a key role in regional trade throughout the Horn of Africa, the Middle East and East Africa, sitting as it does on a major…

Analysis

A surge in Ethiopia-bound trade from Djibouti increases traffic and prompts reforms
OBG
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Serving as Ethiopia’s connection to maritime shipping, Djibouti’s cargo sector has seen an increase in traffic related to the neighbouring country’s expanding economy. This critical transport connection has been maintained through a highway link that connects Djibouti and its port all the way into Ethiopia and its capital Addis Ababa. Although the development of alternative infrastructure such…

Analysis

Djibouti looks to renewable energy to boost self-sufficiency and competitiveness
OBG
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With significant renewable energy potential, including geothermal, wind and solar, the Djibouti government is looking to increase the share of renewables in the country’s energy mix in a bid to lower domestic energy production costs and ultimately increase energy security. The country’s long-term development plan, launched in 2014 and known as Vision 2035, envisages a full transition from 100%…

Analysis

Competition in Djibouti's foodstuff retail market increasing with entrance of larger retailers
OBG
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Djibouti’s foodstuff retail sector has traditionally been characterised by the presence of myriad small-scale, neighbourhood grocery stores, called mercato, which are frequented by the vast majority of Djibouti’s citizens. However, modern trade has started to become more significant over the past decade, with the development of several distribution groups – both international and local – which…