Red Sea Bank Eyes Investment in Local Banking Sector

Sep 14 , 2025

Last week, Kebede Abera, deputy head of the Ethiopian mission in Djibouti, met with executives from the Bank for Commerce and Industry of the Red Sea (BCIMR) to discuss opportunities in the country’s banking and finance sector. BCIMR, Djibouti’s largest bank with a 45pc market share, was established in 1957 and is majority-owned by France’s BRED Banque Populaire (51pc), with the Government of Djibouti holding 33pc and a Yemeni bank 16pc. Kebede highlighted opportunities created by ongoing macroeconomic reforms and growth in the financial sector. BCIMR executives expressed interest in expanding operations and collaborating with local institutions. Chief Executive Sebastian Nahom thanked the embassy for facilitating awareness of investment opportunities and confirmed plans to engage with domestic trade and investment stakeholders. The mission pledged continued support to ensure productive operations.