Banca per l'Africa Orientale

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Banca per l’Africa Orientale (BAO) was an early attempt to establish modern banking in the Horn of Africa at a time when Eritrea and Italian Somaliland were Italian colonies.

  • 1917 Banca Italiana di Sconto promoted the formation of the Banca per l’Africa Orientale as a joint stock company in Rome with head office in Massawa and a branch in Mogadishu.
  • 1918 BAO commenced operations.
  • 1923 BAO was liquidated following problems at the bank and the failure of Banca Italiana di Sconto.

[edit] Source

  • Mauri, A. (1998) The First Monetary and Banking Experiences in Eritrea. African Review of Money, Finance and Banking, 1-2: 67-84.
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