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The economy of Djibouti is derived in large part from its strategic location on the Red Sea. Djibouti is mostly barren, with little development in the agricultural and industrial sectors. The country has a harsh climate, a largely unskilled labour force, and limited natural resources. The country's most important economic asset is its strategic location, connecting the Red Sea and the Gulf of Aden. As such, Djibouti's economy is commanded by the services sector, providing services as both a transit port for the region and as an international transshipment and refueling centre.
Ismaïl Omar Guelleh is the current President of Djibouti. He has been in office since 1999, making him one of the longest-serving rulers in Africa. He is often referred to by his initials, IOG.
Djibouti is the eponymous capital and largest city of Djibouti. It is located in the coastal Djibouti Region on the Gulf of Tadjoura.
The Djibouti national football team, nicknamed the Riverains de la Mer Rouge, is the national football team of Djibouti. It is controlled by the Djiboutian Football Federation, and is a member of the Confederation of African Football (CAF) and the Union of Arab Football Associations (UAFA). The Djibouti national football team's first win in a full FIFA-sanctioned international match was a 1–0 win vs. Somalia in the first round of the 2010 FIFA World Cup qualification.
Air Djibouti, also known as Red Sea Airlines, is the flag carrier of Djibouti. It first flew in 1963 and ceased all operations in 2002. In 2015, the airline was relaunched, first as a cargo airline and then, in 2016, with passenger services as well. It is headquartered in the capital, Djibouti City.
The Port of Djibouti is a port in Djibouti City, the capital of Djibouti. It is strategically located at the crossroads of one of the busiest shipping routes in the world, linking Europe, the Far East, the Horn of Africa and the Persian Gulf. The port serves as a key refueling and transshipment center, and is the principal maritime outlet for imports to and exports from neighboring Ethiopia. An estimated 2,500 ships pass through and call through the port every day.
Spire Bank, formerly known as Equatorial Commercial Bank(ECB), is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.
The following outline is provided as an overview of and topical guide to Djibouti:
Djibouti, officially the Republic of Djibouti, is a country located in the Horn of Africa. It is bordered by Somalia in the south, Ethiopia in the southwest, Eritrea in the north, and the Red Sea and the Gulf of Aden in the east. Across the Gulf of Aden is Yemen. The country has a total area of 23,200 km2 (8,958 sq mi).
Before Uganda's independence in 1962, the main banks in Uganda were Barclays ; Grindlays, Standard Bank and the Bank of Baroda from India. The currency was issued by the East African Currency Board, a London-based body. In 1966, the Bank of Uganda (BoU), which controlled the issue of currency and managed foreign exchange reserves, became the central bank and national banking regulator. The government ownedUganda Commercial Bank and the Uganda Development Bank were launched in the 1960s. The Uganda Development bank was a state-owned development finance institution, which channeled loans from international sources into Ugandan enterprises and administered most of the development loans made to Uganda.
Exim Bank (Uganda) (EBU), commonly known as Exim Bank, is a commercial bank in Uganda. It is one of the commercial banks licensed by the Bank of Uganda (BOU), the central bank and national banking regulator. EBU is a subsidiary of Exim Bank Tanzania, which also has subsidiaries in Tanzania, Comoros, and Djibouti.
Absa Bank Kenya Plc, formerly Barclays Bank Kenya Limited, is a commercial bank in Kenya and a subsidiary of South Africa-based Absa Group Limited. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.
NCBA Group Plc, is a financial services conglomerate in East and West Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, Rwanda, Uganda and Ivory Coast.
Premier Bank Premier Bank is a privately owned Sharia compliant commercial bank incorporated in Somalia in 2013 and licensed by the Central Bank of Somalia in 2014. It is the first bank in Somalia to allow MasterCard credit cards and partner with Visa.
The Port of Doraleh is an extension of the Port of Djibouti, located 5 km west of Djibouti City. The multipurpose port has terminals for handling oil, bulk cargo, containers and livestock. It was partially owned and operated by DP World and China Merchants Holdings, until its container facility was seized by the government of Djibouti in February 2018. There is a Chinese naval base directly adjacent to the port. China’s first overseas military base is in close proximity to the port.
References
- ↑ Central Bank of Djibouti (2018). "Banking Institutions Licensed In Djibouti" (Translated from the original French language). Central Bank of Djibouti . Retrieved 25 February 2020.
- ↑ Dalsan Radio (24 February 2020). "Kenya: Djibouti's East African Bank Distance Self From Kenya Registered Bank" (via AllAfrica.com). Mogadishu: Dalsan Radio. Retrieved 24 February 2020.
