Banca per l'Africa Orientale

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.

References

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

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