African Export-Import Bank (Afreximbank) and the Djibouti Chamber of Commerce (CCD) conducted a three-day business roadshow in the country, to promote the Bank’s programmes, facilities, and initiatives to stakeholders, including government agencies, parastatals, financial institutions and the businesses community among others.
The roadshow consisted of a one-day seminar and two days bilateral meetings with key stakeholders across sectors.
Under the topic “unlocking Djibouti’s potential as a gateway to regional trade”, the seminar had in attendance, key government leaders, policy makers, and senior leaders from the financial, banking, private and corporate sectors.
Youssouf Dawaleh, President of the Djibouti Chamber of Commerce, highlighted the strategic alignment between the roadshow and the CCD’s mission, which is to inform and raise awareness of the national economic fabric and more particularly private companies on market opportunities, financing and other support available.
He said “Raising funds and financing remains a continent-wide problem and our country is no exception to this situation. This results in limited growth for businesses and in particular SMEs”.
Amr Kamel, Afreximbank‘s Executive Vice President in charge of Business Development and Corporate Banking highlighted that Djibouti remains an important hub for African trade and the gateway of Horn of Africa and East Africa. To ensure that the business community benefited from the roadshow, Afreximbank highlighted various products, programmes, and initiatives such as the Intra African Trade initiative, Project Finance, Industrialisation and Export Development programme, Afreximbank Trade Facilitation Programme (AFTRAF), Afreximbank International Payment Services (AfPAY), the MANSA, Pan-African Payments and Settlement System (PAPSS), among others.
“We are happy to announce our commitment to working with Djiboutian commercial and development or investment banks to make financing accessible to the public and private sectors and small and medium-sized enterprises to finance trade and project deals in Djibouti. The Bank is keen to collaborate with Djibouti, other member countries and key partners to find solutions to these challenges. For instance, the recently launched Pan-African Payments and Settlement System (PAPSS) will enable a buyer in Ethiopia to pay for goods supplied in Ethiopian Birr and a Djiboutian seller to receive Djiboutian Francs, while the two respective central banks settle the net position of the trades between themselves,” Afreximbank‘s Executive Vice President in Charge of Business Development & Corporate Banking, commented:
Bilateral meetings were held with President Ismail Omar Guelleh, Ilyas Moussa Dawaleh, Minister of Economy and Finance; Yonis Ali Guedi, Minister of Energy and Natural Resources; Mohamed Warsama Dirieh, Minister of Trade and Tourism; Ahmed Osman Ali, Governor of the Central Bank of Djibouti; Aboubakr Omar Hadi, Chairman of Great Horn Investment Holdings and Mohamed Sikieh Kayad, Chairman of the Djibouti Sovereign Wealth Fund.
The Bank’s programmes for the development of industrial parks, export processing zones, special economic zones, Agri-processing projects, light manufacturing projects, among others, were discussed. The Afreximbank delegation also presented the Bank’s interventions to foster trade enabling infrastructure such as airports, seaports, terminals, railways, telecommunication infrastructure, power projects and renewables (wind and solar) as well as large manufacturing and heavy industries including oil and gas production and processing plants, liquefied natural gas plants, petrochemicals, and cement.
The delegation also met with the top executives of Air Djibouti, Société Internationale des Hydro carbures de Djibouti (SIHD), the FSD as well as several Djiboutian banks.
The Bank’s team also had the opportunity to visit the Damerjog Industrial Development Free Trade Zone and was received by Chairman Mr. AbouBakr Hadi as part of the continued collaboration with Djibouti Ports and Freezone Authorities (DPFZA). Discussions were on furthering cooperation in trade & projects finance.