(Ecofin Agency) - Banking activity in Côte d’Ivoire grew by 15% in 2021 with a total balance sheet at CFA16,983 billion ($29.3 billion), against CFACFA14,727 billion ($25.4 billion) in 2020. These figures were reported by Finance Minister Adama Coulibaly in a speech delivered at the decoration ceremony of members of the Professional Association of Banks and Financial Institutions of Côte d'Ivoire (APBEF-CI).

Between 2020 and 2021, the country’s macroeconomic performances also improved and the economic growth went from 2% in 2020 to an estimated 6.5% in 2021. The official says the economic recovery is partly driven by the banking sector, which backed major development investments over the period. He expects banks to further support the country’s post-pandemic recovery. "As the government strives to deploy the necessary reforms to accelerate the structural transformation of the economy through the National Development Plan 2021-2025, as part of Vision Côte d'Ivoire 2030, the contribution of banks and financial institutions is more than expected." the minister said.

“In this perspective, it seems essential that the excellent relationship between APBEF-CI and the State is further strengthened in a win-win partnership with ultimately positive changes in the quality of life of the people,” he added.

In recent years, the Ivorian government has multiplied measures to improve financial inclusion in the country. According to BCEAO, the Extended Banking Rate (Number of individuals with deposit or credit accounts in banks, postal services, national savings banks, the Treasury, and Microfinance/adult population) in Côte d’Ivoire increased from 30.79% in 2019 to 32.56% in 2020.

Moutiou Adjibi Nourou