Business Africa

As Djibouti gears up for its inaugural international investment forum, Omar Ben Yedder is in conversation with the CEO of the country’s young sovereign wealth fund, Dr Slim Feriani (below), who believes the country has all the factors for success lined up.

In September 2023, Djibouti inaugurated its first wind farm in the north of the country. Add solar farms, geothermal power and biomass plants, and Djibouti hopes to become the first country on the continent to supply its population with 100% renewable energy.

Ilyas Moussa Dawaleh, Djibouti’s Minister of Economy and Finance, in charge of Industry has been in charge of the country’s economy and planning for the past 10 years. Over this period he has delivered consistently growth rates around the 5% mark and this year will be ranked among the fastest growing economies in the world. In this interview with African Business, he outlines the strategy to diversify the economy and crowd in the private sector.

With its picturesque lakes, mountains, heavenly islands and diverse marine life, Djibouti has a number of excellent reasons for seeking to enhance its tourism sector. But major infrastructure investment is needed.

International Finance Corporation – a member of the World Bank Group - is the largest global development institution focused on the private sector in emerging markets and one of Djibouti’s key development partners. It has signalled its determination to stay the course and see the country achieve its aims under its current national development plan.

O Capital Group, the African multinational headquartered in Morocco, is heavily involved in major infrastructure projects in the ongoing extension of the City of Djibouti, such as the renovation of its airport, all part of the country’s Agenda 2035 development plan.

At the head of a small family empire of six companies, Hibo Bacha is a businesswoman who sees her country as virgin territory, “where everything remains to be developed”.

The small Republic of Djibouti, with a population of just over one million, intends to turn a corner by diversifying its economy beyond its port activities. Its geographical position at the entrance to the Red Sea, as well as its political and monetary stability, are key assets in strengthening its role as a regional crossroads. Will it use the model of a city-state like Singapore?

The IUFRO argues that financial actors and shareholders are more often interested in short-term profits than long-term just and sustainable forest governance.

After serving as Prime Minister between 2001 and 2013, Dileita Mohamed Dileita (below) returned to the forefront of the national political scene in March 2023, when he became President of the National Assembly. African Business spoke to this former diplomat.