Salaam African Bank

Overview

Established in 2008, Salaam African Bank has grown to become a prominent financial institution in Djibouti, providing a comprehensive suite of services such as current accounts, savings, investment deposit accounts, asset financing, joint ventures, capital investment, documentary credits, and letters of guarantee. The bank also offers Visa and MasterCard services, point-of-sale (POS) systems, phone banking, utility payments, SMS notifications, and electronic banking solutions. Salaam African Bank is licensed and regulated by the Central Bank of Djibouti. The bank has introduced innovative products and services, including POS machines, mobile banking, online banking, and mobile money transfer platforms. It boasts the highest number of branches and ATMs in the country and maintains over 20 correspondent banking relationships worldwide. Salaam African Bank is committed to best business ethics and continuously strives to improve the value and accessibility of its services to enhance the lives of its community members. In 2016, Salaam African Bank was awarded Best Commercial Bank in East Africa, reflecting its dedication to excellence in the banking sector. The bank's mission is to provide high-quality, interest-free banking services that are innovative and driven towards offering financial solutions to its customers. Salaam African Bank is licensed and regulated by the Central Bank of Djibouti. Salaam African Bank is a member of the Salaam Group, a diversified business network comprising sectors such as telecom, banking, energy, mobile money services, real estate, trade, and logistics across the African continent. The group's portfolio includes Salaam Center, Tamini Insurance, FoodEx, Salaam Investment Bank Kenya Limited, Waafi, Fuelstor, Salaam Real Estate, Phoenix Commercial Bank, Ukab Freezone, Waafi Bank, and Swift Stevedoring. In August 2022, Salaam African Bank expanded its presence by acquiring Top Finance Bank in Uganda, rebranding it as Salaam Bank Uganda. This strategic move marked the establishment of the first fully-fledged Islamic financial institution in Uganda, offering Sharia-compliant financial solutions to a broader customer base. Salaam African Bank's commitment to innovation and customer-centric services has solidified its position as a leading financial institution in the East African region, continually setting standards in the banking business and providing high-quality, interest-free banking services that are innovative and driven towards offering financial solutions to its customers.

Investment Focus

• Sharia-compliant investments
• Interest-free financing
• Asset-backed financing
• Compliance with Islamic finance principles
• Focus on ethical and socially responsible investments
• Diversification across various asset classes and industries
• Geographical diversification within the East African region
• Adherence to best business ethics and international standards
• Commitment to financial inclusion and community development
• Alignment with Salaam African Bank's strategic objectives and values

Portfolio Companies