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Felix Emok N’Dolo, Director-General, JC Colas-Groupe CHD, on tax efficacy: Viewpoint
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In June 2015 the Ministry of Economy and Finance, in partnership with the Chamber of Commerce of Djibouti, organised a conference entitled “The National Forum of the Tax System”. The presence of the highest authorities in the republic at the conference showed the great interest in and importance of this event. The objective of the conference was to analyse the tax system in Djibouti and propose…
Analysis

Djibouti's foreign policy targets developing ties with neighbours and global economic powers

Posted OBG AdminPosted in Uncategorized

Djibouti is a small country in an often turbulent neighbourhood. Much of its foreign policy since independence has been based on the dual goals of maintaining sovereignty and promoting development within its borders. However, over the past decade, the country has played an increasingly central role in regional diplomacy, not only for its strategic location – which has allowed it develop close ties…
Analysis

Developing ties with Ethiopia key to Djibouti's future prosperity

Posted OBG AdminPosted in Uncategorized

A good neighbour policy often makes for an appealing sound bite but in practice – as countries from Turkey to the US have found – it can prove extremely difficult. However, Djibouti has managed to develop a canny strategy towards its neighbours in order to ward off threats to its stability and ensure prosperity. Bordered by Ethiopia and Eritrea – two countries with a chequered history of conflict…
Analysis

Careful decision making vital to tempering Djibouti's rapid expansion

Posted OBG AdminPosted in Uncategorized

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

Posted OBG AdminPosted in Uncategorized

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

Posted OBG AdminPosted in Uncategorized

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

Posted OBG AdminPosted in Uncategorized

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 four…
Analysis

Growing participation in Djibouti's financial services sector due to greater competition

Posted OBG AdminPosted in Uncategorized

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

Posted OBG AdminPosted in Uncategorized

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

Posted OBG AdminPosted in Uncategorized

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…