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Saudi Arabia’s banking sector is dynamic and competitive, comprised of domestic universal banks, foreign specialists and finance companies vying for market share. It is also a sector in the midst of significant and regulation-driven change, as the Kingdom’s leadership works to implement its long-term economic blueprint, outlined in detail in its Vision 2030 programme. Indeed, the financial sector is expected to play a major role in the Kingdom’s diversification initiatives. This cross-sectoral economic transformation is fuelled by technology and innovation-driven process optimisation to create new opportunities. In the banking sector specifically, digitalisation is seen as the key to unlocking a new era of enhanced services, eased connectivity and enhanced financial inclusion. This chapter contains an interview with Tony Cripps, CEO, Saudi British Bank.

With increasing oil and gas prices and an expanding non-oil sector, Saudi Arabia has been logging record trade surpluses in recent years, while securing government revenue for future investment. Saudi Arabia is expected to be among the fastest-growing economies in the G20 in 2022 – and the Kingdom was on track to fulfil that forecast by the middle of the year. Indeed, in the first three months of 2022 GDP expanded by 9.9% year-on-year, and 2.6% quarter-on-quarter. Saudi Arabia has therefore successfully bounced back from the global downturn accompanying the Covid-19 pandemic. It has also left behind the period of slower growth that the Kingdom witnessed prior to the health crisis, following the 2014 downturn in global oil prices.

The legal system in Côte d’Ivoire has historically proven to be highly adaptive, evolving to offer legal frameworks that facilitate the proper functioning of the economy. The recent introduction of regulations regarding remote work into the legal system illustrates the commitment of the government to amend laws in line with the evolving needs of the business community. Moreover, Côte d’Ivoire has increased its efforts to provide a secure climate for economic activity. The country joined the Organisation for the Harmonisation of Business Law in Africa, which resulted in the acceptance of the jurisdiction of the Common Court of Justice and Arbitration, the apex court for resolving disputes related to business law. This chapter contains an interview with Joachim Bilé-Aka, Managing Partner, Bilé-Aka, Brizoua-Bi & Associés.

In Côte d’Ivoire, the preparation of finance laws traditionally includes a consultation between the private sector and the tax administration. In this sense, there have been recent developments in the Finance Law 2022, which formalised the state budget for 2022. A tax annex was developed to support the economy and employment, provide a more balanced distribution of the tax burden, and strengthen the means of the state through improved tax mobilisation, governance and accountability. Thanks to the tax exemptions granted, more foreign investors may be able to invest in companies in strategic sectors and infrastructure projects with high growth potential, thus contributing to the modernisation of the economy. This chapter contains a viewpoint from Éric N’guessan, Managing Partner, EY Côte d’Ivoire.

After the return to political stability and peace in 2012, the health care sector has been an area of focus for the government and the private sector alike. In recent years, the government has worked to expand hospital infrastructure alongside universal access to health care. Greater regulation and integration of private sector players is also a top priority of the government, particularly given continuing gaps in access to care outside of urban centres. There has been significant progress on rebuilding the country’s education system, with various initiatives bearing fruit. This is evidenced by the number of new schools, the recruitment drive for teachers and legislation making school compulsory for children aged six to 16. In the longer run, the government seeks to expand the sector’s capacity by implementing innovative education technology solutions and encouraging students to explore technical and vocational education and training institutions. This chapter contains interviews with Pierre Dimba, Minister of Health, Public Hygiene and Universal Health Coverage; and Moussa Diaby, Director-General, Institut National Polytechnique Félix Houphouët-Boigny.