A three-day working visit to Djibouti by a group from the Commercial Bank of Ethiopia (CBE) and Sinqe Bank, led by their respective presidents, saw them meet with a number of public and commercial partners.
While acknowledging that CBE Djibouti Ltd has had tremendous success in the past two years, a delegation led by Abie Sano, President of the Commercial Bank of Ethiopia, stressed the importance of stepping up efforts to expand the bank’s footprint in Djibouti and the surrounding region.
The president and his delegation met with officials from both the public and private sectors, including Mr. Ahmed Osman, Governor of the Djibouti Central Bank, representatives from other Djibouti banks, and clients in the import-export sector at the Freezone; they also toured warehouses and discussed ways to improve the Bank’s service.
Siinqee, a newly established bank, was also present to discuss the possibility of opening a subsidiary in Djibouti. Despite being a newbie to the market, Siinqee Bank, originally known as Oromia Credit and Saving Share Company (OCSSCo), has been actively working to grow its position in Djibouti.
Abyssinia Bank, for its part, has maintained its efforts to open a branch in Djibouti, which began with a visit in July 2021. The bank has completed its preparations for entry into the Djibouti market.
Source: Fana Broadcasting Corporate S.C (fanabc.com)
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