On July 11th 2021, the government of Djibouti announced a bill allowing sales of stakes in public enterprises and followed that up by announcing the sale of a significant minority stake in Djibouti Telecom to “a leading strategic partner”. The government stated:
“The opening of Djibouti Telecom’s share capital is a strong and an additional sign of the government’s determination to implement a proactive policy to modernise the country’s economy, increase global competitiveness, and optimize the governance and management of state-owned enterprises.”
Djibouti is indeed a crucial location in global telecoms infrastructure and we have become a Telecom Hub for East Africa. Operational since 1999, Djibouti Telecom is the international carrier with the strongest connectivity in the East African region. There are currently 8 Operational submarine cable systems and 6 upcoming networks. Future investors would therefore be able to benefit from the unrivalled submarine cable network, data centres and mobile money (which has just started via D-Money).
More announcements are due on this over the coming months.