EBOMAF GROUP: International Business Bank (IB bank) opens in Djibouti

After a brilliant success in the growth and expansion of its Group's BTP sector, the CEO of EBOMAF, Mahamadou Bonkoungou, is now dedicated to the banking sector. Entering the world of finance on the ground by taking control of the Habitat Bank of Burkina Faso (BHBF) in 2018, renamed International Business Bank in short IB bank, the burkinabè businessman has given a new bet to conquer Africa in this field. After IB bank Burkina Faso, IB bank Djibouti officially opened its doors on Thursday 28 January 2021 on the shores of the Red Sea, in the presence of Djiboutian Presidents Ismaïl Omar Guelleh and Burkinabe, Roch Marc Christian Kaboré.

The EBOMAF Group is now at the heart of cooperation between the Republic of Djibouti and Burkina Faso. By opening International Business bank Djibouti, IB bank Djibouti, its President and CEO, Mahamadou Bonkoungou, expresses the vitality of this South-South cooperation which was at the heart of the friendship and working visit from 26 to 28 January 2020 in the Djiboutian capital. After obtaining its approval from the Central Bank in February 2020, IB bank Djibouti was inaugurated on Thursday 28 January by the two Heads of State.

The new institution intends to position itself as a major player in the emerging financial hub in this country of the Horn of Africa. " It is a total satisfaction to an entrepreneurial work that has just come to the benefit of our two countries, the Republic of Djibouti and Burkina Faso, in particular, and Africa in general. Then I express my infinite gratitude to the two presidents who kindly honoured the inauguration of this bank. They are animated by a pan-Africanist spirit that I never equalled, which I salute to its worth »Mahamadou Bonkoungou, Chairman of the Board of Directors of IB bank Djibouti, was delighted.

Located within the Damal complex on a building of type R+1, comprising twenty-three (23) offices, on Avenue de l'Aéroport, IB bank Djibouti is located in the industrial area in the Boulaos district. About 20 agents are already active in winning this new EBOMAF Group challenge in the banking sector in the Horn of Africa. "IB bank Djibouti will work towards the emergence of a universal bank to be a reference in this country and throughout the Horn of Africa. It intends to position itself as an endogenous development hub whose quality services offer meet the real needs of the population in all its diversity. It is an African bank that makes itself available to the state, institutions, corporates and individuals. Highly qualified and broken staff stand ready to meet all the requirements.", said, Urban Bako, Managing Director of IB bank Djibouti.

He magnified the pan-Africanist vision of the Presidents of Djibouti and Burkina Faso, which enabled economic integration to be achieved through the opening of a bank carried by a Burkinabe on the Red Sea. " This is a materialization of the relations we have undertaken together with a view to building a new Africa. We had a duty as leaders to exchange the best of what everyone has. Beyond the states, it is the businessmen who create the strongest ties of integration", stressed, Roch Marc Christian Kaboré, President of Faso.

A country with very limited natural resources, the Republic of Djibouti aims to build its economy around infrastructure and services development. The arrival of a new player in the national banking sector is well received by the highest authorities. " With the creation of this bank, the links between our two countries will deepen further. This success will lead to further opportunities for our two peoples at a time when the free trade area is being set up. We invite other African countries to join the country of Burkina Faso and the Republic of Djibouti."Ismail Omar Guelleh, President of the Republic of Djibouti, noted.

At the confluence of three continents (Africa, Asia, Europe) and situated on one of the world's most frequent maritime routes, the Gulf of Aden, the Republic of Djibouti has the ambition to be an internationally recognized economic and financial centre. The Governor of the Central Bank, Ahmed Osman Ali, has built up a rosary of reforms undertaken by the public authorities to improve the business climate and to give investors a strong and dynamic financial position. "The opening this day of IB bank Djibouti, backed by a large group and led by a renowned businessman, is proof of the vitality of our financial and banking system", he recalled. The Republic of Djibouti puts all the assets on its side to make a great profit from the Common Market for Eastern and Southern Africa (COMESA) and the African Continental Free Trade Area (AFTAA).

Sidibé PAGBELEG EMU