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Women support Djibouti’s economy - 4th June 2021
The grey economy accounting for two thirds of Djibouti's GDP relies on these women to reduce financial friction. Their enterprising spirit sees these money changers catering to a vital need in the small country of around a million.
They clutch colourful totes stuffed with a plethora of currencies, from local Djiboutian francs and Ethiopian birr to riyals, euros and dollars.
Widowed a decade ago, Noura Hassan ploughed her savings into establishing herself as a sarifley – the local term for money changers – and operates her own exchange based on international banking rates.
Noura: "We are aware of the exchange rates because our bank gives us this sheet. It's free, it's through this sheet that we know the exchange rates."
Despite being an international crossroads in the Horn of Africa, Djibouti’s women’s limited opportunities stem from only 43 per cent accessing education. Money changing is one avenue which requires little formal training, as Medina well knows.
Medina: "It’s a decent job, it's better than being jobless. You work to earn a living for your children. When you sit here you have a cash flow, you don't need to beg from anyone working on your own."
The PK12 working-class district bustles with a global cast of rickshaws, migrants, traders, soldiers and neighbours from Ethiopia, each with money to exchange, and in the absence of any banks, sarifley place a quick and easy solution at their disposal.
With relatively large sums about their person, the women wisely congregate in small groups. Finding strength in numbers, sarifley form these loose associations to provide mutual protection, not to mention practical support.
With this safeguard in place, Zahra can put aside any fear of being mugged.
Zahra: "Whoever steals money does not come to us. They're scared. We're a lot, aren't we? He's not coming. If I'm alone he'll come."
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