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CÔTE D’IVOIRE - A Shining Ivory Of OpportunityMinisters’ RoundtableCôte D’Ivoire’s VisionFor National DevelopmentPenresa had the immense privilege to sit down to talk to Côte d’Ivoire’s leadingMinisters about the vision and strategies implemented in the country’s differentsectors that are set to boost national long-term growth and a prosperous future.What initiatives and strategies has your Ministrycarried out in alignment with Côte d’Ivoire’s NationalDevelopment Plan?Hon.Koné (Transport): The NDP’s success isdependent upon a functional transport sector. Thismeans solving the question of freight and people’smobility while ensuring easy access into thecountry and the world. These questions are beingresolved through the improvement, facilitationand modernisation of freight traffic, which is keyboth within the country and with neighbouringcountries. We are the leading container port in thearea and have increased storage capacity as well asberthing capacity for large ships. We have investedenormously in widening and deepening the canal andtoday, we are able to receive the biggest ships in theworld; indeed, we are the only port on the coast thatcan receive ships of this size. We have inauguratedthe TC2 container terminal and are currently in theprocess of guaranteeing safe and clean mobility. Wehave an important ongoing project with MillenniumChallenge Corporation (MCC) for a parking lot andlogistics zones outside the city. My priority for thisyear and 2022 is road safety, and we have worked hardto have an intelligent transport system to facilitatethings. We have set up a new mobility authority inAbidjan in order to promote multimodal transport.reforms, supported by the implementation of a thirdfive-year national development plan (NDP 2021-2025)offers solid prospects for economic growth and fiscalconsolidation in the medium term.The 2021-2025NDP provides for a level of investment of around CFAF60,000 billion, double that of the 2016-2020 NDPHon. Amadou Koné,Minister of TransportHon. AdamaCoulibaly,Minister of Financeand EconomyHon. Coulibaly (Finance): In July 2021, Fitch awarded ourcountry long- and short-term ratings of “BB-/B”, with a stableoutlook for the long-term ratings. The rating reflects a favourableoutlook for our economy over the period 2021-2025, after theCOVID-19-induced trough in 2020 and is a strong signal toinvestors that the reforms implemented in Côte d’Ivoire haveborne fruit. The resilience recorded in 2020 with a real GDPgrowth of 2% in an international environment of generalisedrecession is proof of this. In this respect, it is evidence of thegood macroeconomic and budgetary management of thegovernment and therefore an invitation to continue with thesame trend. The country is gaining credibility and notoriety onthe financial markets. The continuation of structural economic6 FORBES AFRICA DECEMBER 2021 / JANUARY 2022Hon. Koné (Works): The Ministry of Works is keyto the revitalisation of our national economic plan.Construction has played an important role in thedevelopment of the country and this dynamic needsto continue. We consistently seek new projectsattracting private investment since economic growthis harnessed by public projects as well as the privatesector. One aspect we need to focus on involvesboosting the volume, capacity and availability of officespace for the government. Our aim is to constructhigh buildings of 15 to 20 floors in order to meetthese demands. In the administrative city we are in abuilding, Tower A has just been rehabilitated. The ideais to do the same for towers B, C, D, E, as well as forthe construction of the emblematic tower F, which,upon completion, will be the tallest building in Africa.The idea is to have an idyllic project that characterisesCôte d’Ivoire and is symbolic of the revival that thiscountry is undergoing, while driving motivation andopening up housing options.Hon. Sanogo (Budget): This ministry is a wholly cross-cuttingministry; we are in charge of the state budget and publicprocurement, domestic taxation (taxes, taxation) and then thestate portfolio (the portfolios of public enterprises). Our domainis very vast and our ambitions multitudinous. At a budget level,we have to strengthen the efficiency of public spending and at thelevel of customs and taxes, we are working on the mobilisationof domestic resources. In terms of public procurement, wewant to ensure great speed in the allocation of contracts whileguaranteeing that as many people as possible are able toparticipate in the competition for public procurement. Finally, atthe level of the public enterprise, we are working to ensure betterfinancial results that would help serve the financial constraintsof the state. Our new Programme Budget involves using new

Hon.Bruno Koné,Minister of Works,Housing andUrban PlanningHon.Moussa Sanogo,Minister of Budgetand State PropertyHon. AmadouCoulibaly,Minister ofCommunication,Media andFancophony,Spokespersonto the governmentmethodology for budget preparation and execution resultingfrom the implementation of the reform and management of publicfinances.The Citizen Budget aims to facilitate citizens’ accessto budget information and therefore popularise the budget insimple terms to allow everyone to have access to it.Hon. Coulibaly (Communication): In order to improvecommunication in regulatory terms, it is necessary to embraceall decrees that facilitate the communication policy. Theimplementation of our communication policy is carried out withpublic actors, including all government communication servicesand the communication service of the Prime Minister’s office,as well as private actors which include the press, private radioand television stations, marked by the opening of the audiovisual space within the framework of the implementation ofthe digital terrestrial network, the DTT. We are here to define anoperating framework which is, I would say, equitable and fair toall players in the field of communication. To this, we must addanother aspect, the Centre for Information and GovernmentCommunication, which coordinates government policy. Beyondcommunication and the media, I also handle the Francophoneportfolio, which involves promoting Francophone in our country,which is simultaneously a political, cultural and social issue sinceit is a question of promoting cohesion and peace in terms of theobjectives of the National Commission of Francophone (CFN).Hon. Fofana (Tourism): Our country has enormous tourismpotential and is ranked amongst the Top Five tourist spots onthe African continent.The Ministry has diligently worked tosecure a number of Côte d’Ivoire’s tourism strategies, one ofwhich has been judged as one of the best tourism strategiesadopted by the African continent. Sublime Côte d’Ivoire hasenabled national and international private investors to invest inthe tourism sector of our country.We also want to make Abidjana business and entertainment hub based on conferenceand seminar tourism and aspire to be the leader in businesstourism in Africa by 2025. Sizeable exhibition halls are beingimplemented and today, we ensure that hotel specificationsinclude large rooms in the form of an auditorium of 3,000 seatswith several modular rooms. We are also working alongside theMinister of Transport in the development of Air Côte d’Ivoirewhich is intensifying its service network. This policy will makeHon.Siandou Fofana,Minister of Tourismand LeisureHon.Roger Felix Adom,Minister ofDigital Economy,Telecommunicationsand InnovationHon. EmmanuelEsmel Essis,Minister ofInvestmentPromotion andPrivate SectorDevelopmentour country a hub and consequently, a destination that ismore competitive with affordable prices. We are also workingto make Cocody Bay the largest park in Africa, guaranteeing aluxury trade establishment in Abidjan.Hon. Adom (Digital Economy): Côte d’Ivoire is a digitallydeveloped country and as a consequence, we have developeda good digital strategy which is currently in the process ofbeing validated. We are working on the following pillars: digitalinfrastructure, digital services and digital financial services. Weare also working on developing diverse skills, including technicalskills, since we cannot develop the digital without skills. We areintent on developing skills in terms of use so that the populationis aware and ready to use the new features that we are going toimplement. Business promotion is key for Ivorian companies inorder to develop this sector and we are working on making smallstart-ups bigger. We also have a market economy, a free economythat allows people to come and invest in Côte d’Ivoire freely. Anyglobal company is able to establish themselves in Côte d’Ivoireand work well. Côte d’Ivoire is becoming a country of innovationlike Dubai, Singapore and Qatar. We have a lot of projects, so it isimportant for us to have a real strategy in fixed broadband.Hon. Essis (Investments): As the government sets the coursefor industrialisation, we must prevent our economy from beingbased on unprocessed raw materials. We have implementeda new investment code for the priority sector, such as agroindustry, agriculture, livestock, health and hospitality, forwhom we have allocated a maximum of exemption. The codealso covers non-priority sectors which have been given creditand at the end of the year, we will evaluate the code in orderto assess its contribution. The Investment Promotion Centre inCote d’Ivoire (CEPICI) has approved investments for more thanCFAF five thousand billion, indeed, it has never had so manyapproved investments. We have created a one-stop shop forthe investment code, thus, the investor doesn’t have to movebetween departments anymore. It’s a good strategy that hashad great success. Our role is to create the context and theframework to find financing solutions for private investmentto be able express itself through national entrepreneurship.We aim for the national entrepreneurs to become the pillars ofeconomic growth.DECEMBER 2021 / JANUARY 2022 FORBES AFRICA 7CÔTE D’IVOIRE - A Shining Ivory Of OpportunityMinisters’ Roundtable

Versus BankCÔTE D’IVOIRE - A Shining Ivory Of OpportunityServing And Supporting SMEsA Different Way Of BankingVersus Bank has centred its focus on SME structure and growth, offeringservices and solutions to aid the economic engines of the Ivorian economy.“Our objective isto create nationalchampions. Weaccompany SMEsby helping themto structurethemselves, sothey can growand compete withcompanies ofdifferent sizes.”Jérôme Ehui,CEO ofVersus BankImmeuble CRRAE-UEMOAAngle Botreau RousseAvenue JosephANOMAPhone: ( 225) 27 20 25 60 60( 225) 27 20 25 60 90Created in 2003, Versus Bank has experiencedmonumental growth, boasting an effectivestaff of 153, capital of EUR 10 billion dividedbetween the State of Côte d’Ivoire (53%) andthe pension fund of state employees (47%).Jérôme Ehui, who has been CEO of VersusBank since 2019, states, “Our investmentsgive and deliver a will to represent in ourindustry through a different way of doingbanking. This state of mind drives us, and weimplement it for every new client. We havemade SME financing the core business, whichmeans that today in our global financing,we devote 70% to SMEs.” Upon becomingCEO, Ehui invited Versus executives totransform the focus of the bank to createenhanced performance through five majoraxes: customer, organisational, leadership& management, culture & communicationand training, which has resulted in a bankthat serves and supports small and mediumenterprises to energise the Ivorian economy.While Versus Bank continues to offer a range ofproducts for individuals, their focus rests on thepowerhouse of the Ivorian economy. Ehui says,“We are a branch specialised in SME financing.SMEs are really 80% of the Ivorian economy.Our approach is what has made our success;we have gone beyond classic financing to helpSMEs structure themselves.” At the end of 2020,Versus Bank signed an agreement with the SMECredit Guarantee Fund which functions to providethird-party credit risk mitigation to lenders byabsorbing a portion of loss on SME loans in theevent of default. This brings additional securityand confidence for SMEs as they enter themarket. Ehui continues, “Signing with the SMEGuarantee Fund gives us more capacity, knowingthat our capacity to intervene on the marketis linked to our own funds, is regulated, goesbeyond this threshold of own funds, and whenwe make financing, that it is backed up by aguarantee like the one given by the SME Fund.This attenuates the consumption of our own8 FORBES AFRICA DECEMBER 2021 / JANUARY 2022funds and thus gives us more possibilities toaccompany SMEs much more.”In addition to the SME Guarantee Fund,Versus Bank has also signed the AfricanSolidarity Fund (ASF) based in Niamey, whichalso provides counter-guarantees, as well asa recent agreement with FAGASE (GuarantyTrust Bank), which also provides the bank withadditional financing lines. “Our objective is tocreate national champions,” says Ehui. “Weaccompany SMEs by helping them to structurethemselves, so they can grow and competewith companies of different sizes.” In 2019,Versus Bank intervened with about EUR 90billion, but last year with EUR 128 billion andcontinued growth is projected for 2021.Versus Bank’s unique approach to businessand dedication to the SME sector has resultedin numerous recognitions and accolades,including the 2017 and 2019 prizes, ‘La finances’engage.’ At the ninth edition for the Grand PanAfrican Leaders Award (PADEL) 2021, VersusBank was also the proud recipient of threeawards: the Grand Pan African Leaders Awardfor Excellence and Merit, the Grand Pan AfricanLeaders Award for Best Manager in the bankingsector and the Super Grand Bronze Pan AfricanLeaders Prize for Excellence and Merit, a specialjury prize awarded to Jérôme Ehui.Versus Bank’s commitment from individualsto SMEs to discerning investors as well asits dedication to Côte d’Ivoire’s NationalDevelopment Plan in fostering inclusive andsustainable economic growth and attractinginvestment by 2030 is undeniable. “We aremore committed to promote the businessclimate and to allow investors to be able tosecure precisely, and as a citizen bank, we aredeveloping all the means to accompany them,It’s in our DNA, the availability, the innovation,the responsibility and the team spirit. We try toinculcate in our collaborators to be customeroriented. The customer must be at the centreof the population.”

The General Directorate of Public Procurement (DGMP)Facilitating Productive,Socially Responsible InvestmentsThrough a new system for public tender, the DGMP has renewed its activitiesthrough streamlined operations and transparency, further promotingpublic-private partnerships in Côte d’Ivoire.The General Directorate of Public Procurement(DGMP, in French) operates with the objective toharmonise public procurement to secure efficient,judicious and economic use of state resourcesin Côte d’Ivoire. The DGMP works under anexceptional standard to enhance economic impactin Côte d’Ivoire, managing tenders that lead to largeinvestment projects in the country. Sansan FrançoisYoul, Managing Director of DGMP, states, “Highperformance is a personal ideal that has alwaysguided and accompanied the management strategyI have applied to the different structures I managed.”The DGMP has adopted a new Code for PublicTenders that is making its operations moreaccessible, streamlined and transparent. “With thenew system, the DGMP is to give more credibilityto the Ivorian system by increasing control andorganisation; to augment the swiftness of tenderoperations through the establishment of a systemof surveillance of the deadlines; and to increasethe use of technologies for information andcommunication when dealing with the files. Thisis done by implementing the management toolssuch as the Electronic File Management (GED), thedematerialisation of the public tenders (SIGOMAP)and the Database for Reference Pricing (BDPR).There has been an organisational transformation bycreating specialised services in place of the systemfor ministerial correspondence.” The Code of PublicTenders has introduced numerous reforms and asa result, the DGMP has experienced a reduction intender execution time, from 108.3 days in 2017 to94.7 in 2020. Electronic tender execution shouldenable a considerable reduction of this delay for thecoming tenders.The new Code for Public Tenders takes intoconsideration international standards and newmechanisms for the execution of public tenders,all of which encourage investment. “Theseare adapted to the achievement of importantinvestment projects, in order to support theactions of the government and facilitate the accessfor SMEs to public order. The institutional changewill considerably reinforce the performances ofthe DGMP.” In support of these actions, the DGMPhas been certified with the norm ISO 9001, version2015, a certification that enables the DGMP tosubscribe to normative requirements in terms ofmanagement, which creates an ease of creatingpublic-private partnerships.Recovering from the COVID-19 crisis with renewedpurpose, Côte d’Ivoire is working toward the 2030vision of H.E. President Alassane Ouattara, whichis designed to support the biggest economy of theUEMOA zone. Youl says, “The 2030 vision of H.E.President Alassane Ouattara is to make Côte d’Ivoirean economic and industrial power.” The successof the 2030 vision relies on the achievementof objectives such as the creation of 8 millionjobs, poverty reduction, increasing education,implementing large infrastructure projects,increased scientific and technological specialisationand the development of modern and mechanisedagriculture. “These objectives will be translatedinto big projects that will be conducted under publictenders,” says Youl. “As a structure of control for thesystem of public tenders, the contribution of theDGMP will be to accompany the implementation ofthe new Code for Public Tenders and the operationsrelated to these tenders.”Indeed, as Côte d’Ivoire works towardVision 2030, the DGMP will no doubt play a criticalrole in its realisation. The successful development ofany prospective economy requires the appropriateinvestment in key sectors to support its rapidgrowth. Youl says, “The measures taken by thegovernment for foreign investors are present inthe Code for Investments and the Code for PublicTenders, which enable international companies toparticipate in public tenders. The governance and theease of doing business are assets when investing inCôte d’Ivoire: it is about facilitating the proceduresof creating businesses to boost and promoteproductive, socially responsible investments.” Côted’Ivoire is creating an environment where publicprivate partnerships can more easily be established,providing the nation with the appropriate tools andplayers to enjoy a prosperous future.“The measurestaken by thegovernment forforeign investorsare present inthe Code forInvestmentsand the Code forpublic tenders,which enableinternationalcompanies toparticipate inpublic tenders.”SansanFrançois Youl,ManagingDirector of DGMPCité Financière Tour F, 21ème EtagePlateau Abidjan - BP V 169. AbidjanTel: (225) 27 20 30 52 60https://marchespublics.ci/accueil/homeDECEMBER 2021 / JANUARY 2022 FORBES AFRICA 9CÔTE D’IVOIRE - A Shining Ivory Of OpportunityInvesting In Côte D’Ivoire

Ecobank Côte D’IvoireCÔTE D’IVOIRE - A Shining Ivory Of OpportunityBanking On The Bigger PictureDiversifying and Making Banking MoreInclusive To Meet Modern-Day DemandProviding SMEs with the sustenance to thrive while harnessing gender inclusionthrough digital solutions, Ecobank Côte d’Ivoire is playing a pivotal role in drivingthe nation’s economy through a wide range of financial opportunities and services.“Fundamentally,we believe in thenotion of diversity.For us, it is betterto have a balancedand diversifiedbusiness than anunbalanced andundiversified one.”Paul-HarryAithnard,CEO of EcobankCôte d’Ivoire andRegional ExecutiveUEMOAEcobank Côte d’IvoireAvenue Houdaille PlateauImmeuble Ecobank. AbidjanPhone: 225 27 20 31 92 00A full Pan-African bank, with an all-encompassingbanking suite, a member of the pan-African banking group, Ecobank Group provides wholesale, retail, investment and transaction banking servicesand products to governments, financial institutions, multinationals, international organisations,medium, small and micro businesses and individuals. “Côte d’Ivoire is one of Africa’s locomotives dueto its importance in the economies of West Africancountries,” explains Paul-Harry Aithnard, CEO ofEcobank Côte d’Ivoire and Regional ExecutiveUEMOA in analysing the nation’s financial sector. “Over the past ten years, Côte d’Ivoire hasachieved a tremendous feat in terms of economicperformance. It is one of the countries with one ofthe strongest growths on the continent, which wasconfirmed by the last BB-credit rating upgrade wehad, which makes it one of the best credit ratingson the continent. If we look at sub-Saharan Africa,after South Africa, Côte d’Ivoire is the best destination for investors according to its credit score.”With the shifts and disruptions caused bythe COVID-19 pandemic, Ecobank was quick tounderstand the importance of localisation andregionalisation and the support SMEs requiredin order to ensure consistent national economicgrowth.“We are going to have supply chains thatare going to be more and more regional and localand these need to be developed,” clarifies Aithnard.“To do this, as a bank, we must try to finance moreand more entrepreneurs who will be medium-s

a booming banking sector. The government is made up of experts and competent people who understand the issues well and who manage to take the initiatives that drive development under the leadership of His Excellency President Alassane Ouattara. Investors who come to Côte d'Ivoire will find a business hub where their interests will be preserved." A gateway to West Africa, Côte d'Ivoire .