Banking
From The Report: Cote d’Ivoire 2019
View in Online Reader

The banking sector has played a key role in financing reconstruction in Côte d’Ivoire since the end of the decade-long political and military crisis in 2011. With headline economic growth expected to hover around a robust 7% per annum over the next five years, Côte d’Ivoire’s banking sector is likely to remain attractive, with more banks attempting to penetrate the market. However, the progressive implementation from January 2018 of international prudential standards means that banks will have to boost their capital if they want to maintain their level of lending. This in turn is expected to drive consolidation in the sector in the medium term. It is hoped this will have the added benefit of improving banks’ risk management. This chapter contains interviews with Tiémoko Meyliet Koné, Governor, Central Bank of West African States; and Aymeric Villebrun, CEO, Société Générale de Banques en Côte d’Ivoire.

Articles from this Chapter

Overview

Consolidation and prudence: New services are introduced to spur long-term development
OBG
plus

The banking sector has played a key role in financing reconstruction in Côte d’Ivoire since the end of the decade-long political and military crisis in 2011. As a result, stellar economic growth – which has averaged 8.8% since 2012 – has driven a solid banking expansion in the country, with the number of banks and branches growing steadily over the past few years. Background Competition has been fierce in the industry, which is largely dominated by subsidiaries of foreign lenders, with French…

Interview

Mobilising resources: Tiémoko Meyliet Koné, Governor, Central Bank of West African States, on efforts to improve financing within UEMOA
OBG
plus

Interview : Tiémoko Meyliet Koné What has been done to support the financing of small and medium-sized enterprises (SMEs)? TIÉMOKO MEYLIET KONÉ: The Central Bank of West African States ( Banque Centrale des Etats de l’Afrique de l’Ouest, BCEAO) has initiated several projects to help finance SMEs, which account for around 80-95% of all companies in UEMOA. For example, the BCEAO created the Credit Information Bureau, which is tasked with collecting credit information to be compiled into solvency…

Interview

Innovative channels: Aymeric Villebrun, CEO, Société Générale de Banques en Côte d’Ivoire, on widening the pool of financial service consumers
OBG
plus

Interview :Aymeric Villebrun How can the financing of small and medium-sized enterprises (SMEs) be improved? AYMERIC VILLEBRUN: We face a pair of issues in Côte d’Ivoire when it comes to providing finance to SMEs. First, though progress has been made, the informal sector is still large, which means that a fair number of companies are unprepared to file a loan request, owing to a lack of financial strength or clear structures of governance. Second, several banking entities have been focused…

Analysis

Digital futures: Lenders take steps to enhance the banking experience
OBG
plus

Facing rising competition from telecoms companies, traditional banks are investing significantly to upgrade their digital platforms, while some have launched their own mobile services. Mobile banking is growing by the day, as the range of products available to consumers continues to rise. Banking penetration has improved in recent years after lenders expanded their networks and the Central Bank of West African States required they offer a number of services, including opening of an account, without…

Overview

Fintech revolution: Tech solutions are driving the evolution of the sector landscape – Cote d’Ivoire
OBG
plus

Once reserved for ambitious start-ups and industry-leading operators, financial technology (fintech) has caught the attention of private sector firms and government planners alike, becoming a regular feature in budget speeches and development plans. As fintech plays a larger part in the lives of consumers, investors have come to recognise its growth potential. Tech-focused Janus Henderson Global Technology Fund, for example, has expanded by more than 160% since February 2013, and by some 30% in 2017 alone. While the concept was pioneered in developed countries, emerging markets are catching up quickly. As competition mounts between jurisdictions,…