Banking
From The Report: Cote d'Ivoire 2015
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As the established banking centre of the West African Economic and Monetary Union (Union Economique et Monétaire Ouest-Africaine, UEMOA), Côte d’Ivoire’s financial services industry has sustained double-digit growth since emerging from the national crisis in 2011. The market still faces legacy issues, such as high aggregate non-performing loans and under-performing public lenders, but authorities are steering a course of ambitious restructuring and privatisation that should help sanitise the sector. As in many emerging markets, lending is still skewed towards the high-end corporate segment. Yet growing competition among regional and international banks is driving efforts to attract both consumers and small and medium-sized enterprises. With banking penetration still low, there is considerable scope for the sector to further support economic growth.

This chapter contains interviews Tiémoko Meyliet Koné, Governor, Central Bank of West African States; and Mohamed El Kettani, CEO, Attijariwafa Bank.

Articles from this Chapter

Overview

A longer reach: Amid double-digit growth, local and foreign banks vie for market share with acquisitions, expansions and reforms
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As the established banking centre of the West African Economic and Monetary Union (Union Economique et Monétaire Ouest-Africaine, UEMOA), Côte d’Ivoire’s financial services industry has sustained double-digit growth since emerging from the national crisis in 2011. The market still faces legacy issues, such as high aggregate non-performing loans (NPLs) and under-performing public lenders, but authorities are steering a course of ambitious restructuring and privatisation that should help sanitise…

Interview

Tiémoko Meyliet Koné, Governor, Central Bank of West African States: Interview
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Interview:Tiémoko Meyliet Koné What can be done to increase credit volume and encourage long-term financing? TIEMOKO MEYLIET KONÉ: Banks need further resources for long-term financing, and so within the West African Economic and Monetary Union (Union Economique et Monétaire Ouest-Africaine, UEMOA), the minimum capital requirement for banks operating in the zone has doubled, from CFA5bn (€7.5m) to CFA10bn (€15m). To increase short-term deposits in long-term lending, the transformation…

Analysis

Beyond bricks: Mobile money and microfinance go rural
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While commercial banks have been rebuilding and expanding their bricks-and-mortar networks since 2011, the keys to reaching unbanked populations are proving to be alternative means like mobile money and microfinance institutions (MFIs). A handful of new MFIs – sanitised through fresh rules issued in 2011 – have seen strong double-digit growth in the past three years, though the bulk of non-bank deposits remains with mutual savings societies. While the number of bank accounts grew by 10% to some…

Interview

Mohamed El Kettani, CEO, Attijariwafa Bank: Interview
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Interview:Mohamed El Kettani What can be done to improve access to finance and banking services in rural areas? MOHAMED EL KETTANI: In Côte d'Ivoire the decade-long political crisis negatively impacted the banking sector, leaving market players with little room to grow. Nonetheless, the country is back on track and considerable progress has been made. However, when it comes to access to finance, it is still a question of supply rather than demand. Despite a wide array of financial institutions…

Analysis

Rules and takeovers: Regulatory changes and privatisations are drawing foreign investors
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As larger banking groups expand their reach within the West African Economic and Monetary Union (Union Economique et Monétaire Ouest-Africaine, UEMOA), authorities at the region’s central bank have recently implemented a number of significant changes. First, they have raised capital requirements to enhance lenders’ scale. Second, they have begun allowing banks with licences in one jurisdiction to open branches in another. Last, the central bank has begun calculating banks’ solvency and liquidity…