Banking
From The Report: Cote d'Ivoire 2013
View in Online Reader

After decades of turbulence, the Ivoirian banking sector is experiencing something of a renaissance. Like the economy, Côte d’Ivoire’s banking sector was growing robustly until a crisis brought on by enthusiastic lending struck in the early 1980s. Bank defaults during this period cast a long shadow, paving the way for a steady increase over the years in cash transactions. The subsequent unrest of the early millennium slowed banking growth, and in the beginning of 2011, during the most acute period of upheaval, banks closed for several months, with a number of banks temporarily nationalised by the government at the time. This was compounded by financial complications, with balance sheets deteriorating as the economy contracted. 

Articles from this Chapter

Overview

On the horizon: Expected growth in institutional capacity as the sector recovers
OBG
plus

After decades of turbulence, the Ivoirian banking sector is experiencing something of a renaissance. Like the economy, Côte d’Ivoire’s banking sector was growing robustly until a crisis brought on by enthusiastic lending struck in the early 1980s. Bank defaults during this period cast a long shadow, paving the way for a steady increase over the years in cash transactions. The subsequent unrest of the early millennium slowed banking growth, and in the beginning of 2011, during the most acute…

Viewpoint

Tiémoko Meyliet Koné, Governor, Central Bank of West African States (BCEAO), on regional monetary policy
OBG
plus

The Monetary Policy Committee of the BCEAO has proceeded to analyse the recent developments at the international and regional level and has evaluated risk factors that could weigh on the medium-term outlook in terms of price stability and of economic growth in the West African Economic and Monetary Union (Union Économique et Monétaire Ouest Africaine, UEMOA). In analysing the economic situation, the Committee has noted the persistence of morose international conditions marked by uncertainty, as…

Analysis

Microfinance on the rise: Finding the strategy for extending finance
OBG
plus

With low levels of banking penetration and chronic challenges facing entrepreneurs wishing to access credit, one would have expected Côte d’Ivoire to be fertile ground for microfinance. However, it has not had as big an impact in Côte d’Ivoire as in some other developing countries. The nation only has 75 approved microfinance institutions (MFI) compared to some 350 in Senegal, its smaller regional neighbour. STRONG START: Microfinance first appeared on the scene in 1976 with the creation…

Interview

OBG talks to Thierry Tanoh, CEO, Ecobank Transnational
OBG
plus

Interview: Thierry Tanoh How can banks take advantage of low rates in order to boost retail growth in the sector? THIERRY TANOH: With innovations in technology, such as mobile and internet banking, and with attendant changes in regulation, with agency banking as an example, this is probably the most exciting time in recent history for African banks to rapidly increase the banking penetration in hereto unprofitable territories. Resistance to change is the most common obstacle faced in the push to…

Analysis

Small businesses, big challenges: Increasing the lending pool for small and medium-sized enterprises
OBG
plus

Smaller businesses tend to face greater difficulties in accessing credit than their larger counterparts. This is particularly the case in environments of institutional under-development or legal uncertainty. Unsurprisingly, this is a challenge affecting sub-Saharan Africa in general, including Côte d’Ivoire. PRIME OBSTACLES: In a World Bank survey from 2009, 45.2% of businesses questioned identified access to finance as an obstacle to doing business in the country – a figure that has…

Analysis

Top of the heap: A look at the sector’s major players
OBG
plus

While the Ivoirian banking system is characterised by a diversity of service providers, it is dominated by a few players. The top three banks control 41% of all resources, the top eight control 83.3%, while 13 of the 23 banks marshal resources of less than CFA100bn (€150m). With the exception of state-owned Banque Nationale d’Investissements (BNI) and part state-owned Banque Internationale pour l’Afrique Occidentale-Côte d’Ivoire (BIAO-CI), all of the top eight banks are foreign-owned.…