Author: OBG Admin

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

In network: Mobile money fills the gaps left by traditional banks

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  When it comes to widespread access to financial services, no other mechanism has been able to compensate for the shortcomings of the traditional banking system like mobile banking services. As mobile operators have expanded their offerings, such as the transfer of money between telecoms users, mobile money has become a lifeline for traders, independent businessmen and isolated populations across West Africa. Mobile money transactions in Côte d’Ivoire rose from CFA4.5trn ($7.7bn) to CFA6.3trn ($10.8bn) between 2016 and 2018. The segment has also shown significant progress on a regional level. Eight mobile money providers operate across five countries within the region, with the volume of

Mohammed El Etreby-Chairman-Banque Misr

Long way home: How is the Covid-19 pandemic affecting the flow of remittances into emerging markets?

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  The onset of a Covid-19-induced global recession has affected both labour markets and financial flows around the world. At the confluence of these two are remittances, which have increasingly been among the top contributors to GDP in many emerging markets over recent decades. The issue is particularly pertinent for the countries located in the so-called “yellow slice” of the global economic pie – the group of high-potential economies that make up Oxford Business Group’s emerging markets portfolio. In late April 2020 the World Bank predicted that remittances to low- and middle-income countries would see the sharpest decline in recent history, falling by 19.7% to

Driving ahead: The automotive market experienced another year of stable growth in 2018, with new vehicle sales particularly promising

Posted OBG AdminPosted in Uncategorized

  After contracting by 10% in 2016, the new vehicle market grew by 9% in 2017. This recovery continued in 2018 when the sector expanded by 14%, with a total of 11,376 units sold. This strong performance can be attributed to a combination of factors, including the resumption of public orders; resumed activity in the construction sector; increased agricultural production, particularly of cocoa, coffee and cashews; and rising household consumption and improved purchasing power. The Ivorian car distribution market is highly fragmented, with 16 players

George Richani-CEO-Al Ahli Bank of Kuwait

Funded growth: Private equity helps firms secure capital for expansion

Posted OBG AdminPosted in Uncategorized

  As Côte d’Ivoire seeks to consolidate its position as the leading financial centre in West Africa, the environment for private equity funds has been improving in recent years. Not only is the country’s economic capital Abidjan home to the Bourse Régionale des Valeurs Mobilières (BRVM), the regional exchange for the eight countries of UEMOA, but Côte d’Ivoire’s economic rebound from a decade of civil unrest has also positioned its economy as one of the fastest-growing in the world. Funds These conditions have made Côte d’Ivoire an attractive market for private equity funds looking for opportunities on the continent. Between 2008 and 2017 the number

Room to grow: The exchange is hopeful it will make a recovery after equity markets across the continent performed poorly in 2018

Posted OBG AdminPosted in Uncategorized

  The Bourse Régionale des Valeurs Mobilières (BRVM) is the capital market of the UEMOA, which brings together Benin, Burkina Faso, Côte d’Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo. The BRVM began operating in 1998 with 35 companies listed on its equity compartment. As of the end of 2018 there were 46 listed companies, including 35 Ivorian companies, and 40 bond lines made up of 26 for states of the economic union, 12 for regional organisations and two on behalf of the West African

Securing the future: UEMOA countries continue to rely on the regional public debt market as financing needs increase

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  The economic situation in UEMOA remained favourable in 2018. The region’s average GDP growth was 6.6%, the seventh consecutive year above 6%, and the average annual inflation rate was 0.9%, compared to 1.1% the previous year. However, with strong capital spending and trade terms turning unfavourable following a rise in global oil prices, this was accompanied by a high fiscal deficit, estimated at CFA2.7trn ($4.6bn), or 3.9% of regional GDP, although there were disparities between member states. In comparison, the fiscal deficit stood at

George Richani-CEO-Al Ahli Bank of Kuwait

Reaching out: Expanding insurance access through reform and innovative ideas

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  As providers operating in Côte d’Ivoire’s insurance sector look for strategies to increase their market penetration, much focus is being directed to the role that product innovation could play in boosting demand. Product diversification is primarily led by the private sector; however, upcoming regulatory changes mean the segment is set to be advanced by the public sector. Côte d’Ivoire’s insurance penetration rate of 2% of GDP in 2018 leaves considerable room for growth, yet tapping into this potential remains challenging. To a large degree, the low adoption of insurance products is linked to the current economic climate. Although the country’s 25m-strong population has seen

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Last-mile delivery: A range of state plans and funding programmes have been rolled out to increase access to electricity

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  Alongside the development of generation capacity, much of the energy sector’s priorities in recent years have revolved around improving transmission and distribution. Although Côte d’Ivoire has one of the largest electricity networks in West Africa, expanding access and efficiency has at times proven to be a challenge, and efforts to improve transmission and distribution infrastructure were delayed during the years of unrest. Although the disparity in electricity access between urban and rural communities is still significant, the authorities have reduced it by expanding coverage,

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Search for more: New exploration contracts have been signed as the government looks to ramp up hydrocarbons production

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  With a renewed focus on promoting its hydrocarbons potential, Côte d’Ivoire is aiming to bring fresh investment to the exploration and development of its oil and gas resources. Although the country has the hydrocarbons-rich Gulf of Guinea along its shores, sizeable discoveries have eluded oil companies in recent years. “We have had small oil and gas discoveries in Côte d’Ivoire, but nothing like Ghana or Senegal. Because there have not been many successful results, many areas remain unexplored,” Cheikhou Badio, director-general of the African

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

Bittersweet chocolate: Cocoa could see an increase in consumption due to the Covid-19 pandemic, though supply chain disruptions remain a question

Posted OBG AdminPosted in Uncategorized

  The global spread of Covid-19 in the first half of 2020 occurred at a somewhat slower pace on the African continent than elsewhere, but brought similar disruptions to business and social life. The virus was first detected in Côte d’Ivoire in mid-March, and one month later the country had one of the highest infection rates in sub-Saharan Africa. Ivorian authorities responded with a number of precautionary measures in an effort to limit the spread of the virus. Cargo shipments, however – crucial for the