Banking

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.