Banking

Supported by strong economic growth, the banking industry has expanded rapidly in recent years, financing public and private sector investment in reconstruction since 2011. Profitability among the top-tier banks remains strong, with shareholders in publicly listed institutions benefitting from attractive dividends. Although there has been an influx of new banks over the past decade, increased regulation is expected to weigh heaviest on smaller banks, potentially encouraging mergers and acquisitions, notably by new foreign players. Meanwhile, the proliferation of mobile money has allowed a larger proportion of the population to gain access to financial services, with only 16% of adults in possession of a bank account.

This chapter contains interviews with Tiémoko Meyliet Koné, Governor, La Banque Centrale des Etats de l’Afrique de l’Ouest; and Janine Kacou Diagou, Managing Director, Group NSIA.