Exim Bank (Djibouti) SA is part of Exim Banks’ East Africa Group which is a subsidiary of Exim Bank (Tanzania). Although it is relatively new it has been expanding its footprint in Djibouti, becoming one of the fastest growing banks in the region.
Jacky Kayiteshonga, Country Managing Director of Exim Bank Djibouti S.A. tells us more about the bank’s innovative services.
Capital: Exim bank is one of the top five banks in Djibouti. Could you tell us about your performance last year?
Jacky Kayiteshonga: Exim Bank Djibouti began in 2011 and has become one of the top five largest banks in terms of assets, deposits, and profitability. We accomplished this through a strong long term approach to giving clients solutions by providing them innovative advice and remaining loyal to them. As part of its continued growth strategy, Exim Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible and socially relevant. By following this model we have developed business relationships with major commercial firms. For example, we are the largest distributor of FMCG products and we partner with international cargo companies. We feature modern IT infrastructure for electronic banking. We strive to provide prompt and professional customer service. We work hard to manage risk. And we have recently purchased land to construct the Exim Towers in Djibouti by 2018. We also are very proud that 67% of our workforce is female and that we hire many young local graduates.
Capital: What is your market share?
Jacky: Three years ago we only controlled two percent of the market and now we control seven percent. We’ve achieved this because we have a clear vision and loyal customers.
Capital: How do you evaluate the economic activity of Djibouti from the point of view of financial institutions?
Jacky: Any economic sector cannot develop without the entire macro economic framework. The growth of the financial sector in Djibouti is a reflection of the clear vision of the political leadership in the country and the tireless effort to position Djibouti as financial and logistic hub in the region and entire Africa. The Leadership of H.E. President Ismael Omar Guelleh is the foundation of peace, security and sustainable economic growth that we are experiencing in Djibouti over the years.
Capital: What kind of businesses do you support for regional actors and particularly investments in Ethiopia?
Jacky: We define ourselves as a corporate banking financial institution with wholesale banking product offerings. Our role is to promote regional integration through financial services.
Capital: Is there any joint infrastructural project between the two countries that you are providing finance for?
Jacky: Exim Banks is well positioned on all major infrastructural projects and logistic among others; the implementation of the DMP (Djibouti Multipurpose Port), the water supply connection between Ethiopia and Djibouti, the expansion of the Djibouti free zone and last but not least, the construction of the East African telecommunication submarine cable connecting all East African countries to the rest of the world through the Djibouti gateway.
Capital: Any plans to open a branch office in Ethiopia?
Jacky: It is our wish to very soon expand our footprint in Ethiopia through a representation office and when the regulation permits and international banks are allowed to operate in Ethiopia we would love to be a part of that establishing a full fletching banking service leveraging our Pan African banking experience.