Banque Misr has officially inaugurated Banque Misr Djibouti, marking its first Egyptian state-owned banking subsidiary in East Africa.
The inauguration ceremony was attended by Hisham Okasha, Chairperson and CEO of Banque Misr; Abdoulkader Kamil Mohamed, Prime Minister of Djibouti; Abdelrahman Rafea, Egypt’s Ambassador to Djibouti; Ahmed Osman, Governor of the Central Bank of Djibouti; and Hossam Abdelwahab, Banque Misr Deputy Chairperson and Chairperson of Banque Misr Djibouti, along with Mohamed Afifi, CEO of the new subsidiary. The event also brought together senior banking and economic figures from both Egypt and Djibouti.
The launch aligns with Banque Misr’s regional expansion strategy to strengthen Egypt’s financial presence across Africa. It also supports the country’s broader efforts to deepen economic and trade ties with the continent, reaffirming the bank’s role as a key national financial arm driving regional development and integration.
Djibouti was chosen as Banque Misr’s gateway to East Africa due to its strategic location—linking Africa, Asia, and the Arab world—along with its political stability, robust infrastructure, and advanced logistics, technology, and communications sectors. These factors position Djibouti as a rapidly growing financial and logistical hub in the region.
Egypt’s Ambassador to Djibouti, Abdelrahman Rafea, described the inauguration as one of the most significant outcomes of President Abdel Fattah El-Sisi’s historic visit to Djibouti in April 2025. He noted that the presidential visit included directives from both leaders to complete the official launch of Banque Misr Djibouti, emphasizing its importance in enhancing bilateral trade, attracting investment, and adding value to Djibouti’s dynamic banking market.
Rafea expressed his satisfaction in seeing this directive realized, calling the new subsidiary a financial bridge between Egypt and Djibouti. He highlighted the bank’s potential to stimulate trade, facilitate investment flows, and finance productive, service, and development projects while contributing to knowledge exchange, modernization of financial services, and greater financial inclusion in Djibouti.
Banque Misr Chairperson and CEO Hisham Okasha stated that the establishment of Banque Misr Djibouti underscores the bank’s national mission as a cornerstone of Egypt’s economic system. He explained that the new entity will go beyond traditional banking to promote trade, investment, and sustainable development across East Africa, offering a comprehensive suite of financial and funding solutions.
Okasha added that Banque Misr’s presence in Djibouti will help strengthen trade links between Djibouti and regional markets, particularly Egypt, the UAE, and Europe—regions where Banque Misr already operates through subsidiaries and branches. He noted that the expansion comes at a time of strong economic growth in Djibouti, driven by major investments in ports, logistics, and energy, creating opportunities for innovative financial solutions that support regional development.
Ahmed Osman, Governor of the Central Bank of Djibouti, hailed the launch as the start of a new chapter in economic relations between Egypt and Djibouti. He commended Banque Misr’s foresight in recognizing Djibouti’s strategic importance as a gateway to East and Central Africa and as a hub connecting Arab, African, and Asian markets. Osman reaffirmed his commitment to fostering a stable, innovative, and inclusive financial environment rooted in digital transformation and international best practices.
Hossam Abdelwahab, Deputy Chairperson of Banque Misr and Chairperson of Banque Misr Djibouti, described the new subsidiary as a strategic milestone in strengthening financial and investment ties between Egypt and Africa. He emphasized that the bank aims to support and finance Egyptian and regional companies operating in Djibouti, facilitate their trade and investment activities, and build strong partnerships with local financial institutions.
Abdelwahab added that the expansion reflects Banque Misr’s long-term vision of establishing a presence in high-potential markets to enhance financial and commercial connectivity between Egypt and its African partners, thereby contributing to regional economic integration and sustainable development goals.
