Bearer bond of 500 francs issued in Paris in 1901.

In the background, drawing of King Menelik on horseback waiting for the train.

Founded in 1898, this French company benefits from a French concession granted by King Ménélik to undertake the construction of a railway line from Djibouti to Diré-Daroua. In 1906, the promoters of the project did not have the necessary capital to carry it out, the situation became very precarious and the company was put into liquidation in 1907.

Anxious to make Djibouti the outlet for Ethiopian foreign trade, the French Government proposed to the Banque de l'Indochine, through a new company, to take over the concession by providing the capital necessary for the completion of the railway and its extension to Addis Ababa.

After negotiations and with the agreement of England and Italy, the "Compagnie du Chemin de Fer de Djibouti à Addis-Abbeba" was founded and took over the assets of the imperial company. The line, 784 kilometers long, was completed in 1917.