The Commercial Bank of Ethiopia (CBE) inaugurated its subsidiary branch in Djibouti.

Attending the inauguration ceremony were Ismail Omar Guelleh, President of Djibouti, Abdulaziz Mohamed, Ethiopia's ambassador to Djibouti, Bacha Gina, President of CBE.

President Guelleh said the branch office will reinforce the ties between the two countries besides strengthening the level of banking of residents of Djibouti. It will serve as a new lever for investment in Djibouti and attract Ethiopians to invest in sectors like housing, tourism, and the digital economy, among others, he said.

The inauguration of the office is the final step of the process of the planned economic integration between the two countries, the President pointed out.

Ethiopia and Djibouti have strategic and complementary partnerships in the field of import-export, infrastructure, electricity, and water, energy, other mega projects such as Poly-GCL.

Source: FBC