Digital money transfer system comes to Djibouti’s ports

Digital money transfer system comes to Djibouti’s ports

Operator Djibouti Telecom says it has developed D-Money, a new online payment service for port workers.

This appears to be an extension of the existing D-Money service launched in 2020, a means of payment by mobile phone that allows customers who have subscribed to the service to carry out deposit and withdrawal of money, transfer of money from individual to individual, purchase of telephone credit, invoice payment, merchant payment and payment of salaries.

Now it seems to have become an innovative, secure and fast service for small, medium and large e-commerce companies along with public institutions. It was officially launched by Djiboutian Prime Minister Abdoulkader Kamil Mohamed on 11 December.

The Digital Business Africa news service says this money transfer system will facilitate daily payments to port workers. Djibouti Telecom suggests this should give D-money the opportunity to increase its current transactions by some 150%.

According to the management of Djibouti Port Community Systems (DPCS), a portal that provides a comprehensive set of online services to the trading community, the port community's payment transactions currently amount to two or three billion Djiboutian francs per month (US$11.2 million to US$16.9 million), 11% of which are already paid online via DPCS integration with banks such as CacBank, BCIMR, EximBank and SalaamBank.

Ports are big business in Djibouti, which is near some of the world's busiest shipping lanes, controlling access to the Red Sea and Indian Ocean. The country serves as a key refuelling and transhipment centre, and is home to the principal maritime port for imports from and exports to neighbouring Ethiopia.

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