Marcopolis.net Video Interview with Souleymane Diarrassouba, Managing Director of ABI (Atlantic Business International), also available here http://marcopolis.net/future-of-the-banking-sector-in-cote-divoire-1512.htm
"The banking system continues to reinforce its position within the UEMOA/WAEMU zone. Banks are leading, and we account for at least 35% of the key indicators in the UEMOA/WAEMU zone. We have a bank penetration rate of 14%, which is still low but it is important to note the average is 7% within the UEMOA/WAEMU zone. So, in terms of financial flows, inter-bank loans, flow amongst subsidiaries, I think we are still delivering owing to the framework established by government and work done on a daily basis to improve our environment. I believe banks will continue to advance. A lot has been achieved, but there still is more to do because my guess is, to become an emerging economy, we must reach a bank penetration rate of at least 50%. This needs to be achieved through ingenuity and innovation; and a lot of regulatory rigidity should be lifted because the mandate of banks and regulatory authorities should be in line with countries’ development objectives. Banks are expected to increase their capacity to transform short term deposits they have so they can finance long term investment", says Souleymane Diarrassouba.
To read the full transcript of the MarcoPolis interview with Souleymane Diarrassouba, Managing Director of ABI (Atlantic Business International), visit Marcopolis.net http://marcopolis.net/abi-and-banque-atlantique-group-banking-and-financial-sectors-in-cote-divoire-2111.htm
