Djibouti Financial Services Sector Research Highlights

Interview

Mohamed Aden, General Manager, Assurance AMERG: Interview
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Interview:Mohamed Aden What are the main economic indicators driving investment in insurance, and which lines of coverage are experiencing the strongest growth? MOHAMED ADEN: Following a recovery in 2021, economic activity slowed in 2022. This downturn was attributed to disruptions in global shipping and logistics chains related to Russia’s ongoing invasion of Ukraine, low demand in Ethiopia,…

Interview

Jama Hersi Abdi, General Manager, Salaam Africa Bank: Interview
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Interview:Jama Hersi Abdi Which elements are underpinning the resilience of the banking sector in Djibouti? JAMA HERSI ABDI: The primary factors that have been contributing to the banking sector’s resilience are Djibouti’s sustained economic growth and political stability, as well as the continuing modernisation of the sector. The country has enjoyed consistent economic expansion in recent…

Interview

Ahmed Osman Ali, Governor, Central Bank of Djibouti (Banque Centrale de Djibouti, BCD): Interview
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Interview:Ahmed Osman Ali How have the BCD’s intervention plans helped improve the country’s economic indicators? AHMED OSMAN ALI: The priority of the BCD’s interventions is to preserve the integrity of Djibouti’s monetary system, which dates back to 1949. Our currency board regime is bound by strict rules, issuing a freely convertible and stable currency pegged to the US dollar. Accordingly,…

Overview

Rising number of banks in Djibouti helps tap market potential
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Alongside investment in transport infrastructure, Djibouti’s economy has benefitted significantly from the ongoing expansion of its financial services sector. Liberalisation of banking activity since 2006 has made the country an attractive location for banks and insurance companies aiming to satisfy the growing demand linked to logistics services and trading. With a population of slightly more than…

Analysis

How changes to global accounting standards affect emerging markets
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Insurance companies worldwide are working to adjust to the most significant change in global accounting standards in almost two decades. In January 2023 the International Financial Reporting Standards (IFRS) 17 came into effect. Replacing the previous standard, IFRS 4, which was issued in 2004, IFRS 17 aims to standardise insurance accounting globally in order to improve comparability and increase…

Analysis

How legislation helps countries reduce cryptocurrency crime
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Amid record levels of cryptocurrency crime, many emerging markets are looking at ways to strengthen their cryptocurrency-related protections. The incidence of cryptocurrency-linked crime is increasing as the uptake of the payment medium rises rapidly and broadly. An all-time high of $20.6bn in digital currencies was transferred to illegal addresses in 2022, according to blockchain data platform Chainalysis,…

Analysis

Economic growth in Djibouti to boost insurance penetration
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Djibouti’s insurance market has made progress in recent years. The sector finished 2022 with four insurance players, up from the two operating in the market in 2021, and additional competitors are considering their own entry. The authorities expect the new players to help stimulate innovation and increase insurance penetration. Although transport and shipping activities have driven economic growth,…

Country Report

The Report: Djibouti 2023
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By leveraging its strategic location on the Horn of Africa and as a gateway to key landlocked countries such as Ethiopia, Djibouti is well-positioned to act as a nexus of trade between Africa, Asia and the Middle East. The government's Djibouti Vision 2035 strategy outlines key initiatives to attract foreign direct investment, boost social and human capital development, improve private sector enga

Chapter

The Report: Djibouti 2023: Financial Services
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Djibouti's financial services sector is undergoing notable reforms that aim to support broader economic growth. There is a focus on expanding technological infrastructure to enhance efficiency and accessibility in banking, capital markets and insurance. Updated regulations are being implemented to diversify the market, attract more players and foster healthy competition. Microfinance is being leveraged…

Covid Response Report

Rapport : Comment le PE et le VC peuvent stimuler la croissance post-pandémique en Afrique

La pandémie a créé un besoin urgent de plus de capital patient en Afrique. Les gouvernements de tout le continent étant confrontés à des contraintes budgétaires tout en reconnaissant l'importance des investissements dans les infrastructures et les services essentiels, le PE et le VC offrent une voie intéressante pour le soutien financier. La pandémie a également accéléré la numérisation…

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Djibouti Financial Services Sector Research Highlights

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