Côte d'Ivoire

Côte d'Ivoire has enjoyed a strong economic recovery and sustained GDP growth since 2012. Security has greatly improved along with a return to political normalcy. Levels of investment in key sectors and a focus on repairing and upgrading infrastructure is supporting growth. Policy and structural improvements are further supporting the environment for business and financial services.
Standard Bank Group granted full banking license in fast-growing Côte d’Ivoire

Standard Bank – trading as Stanbic Bank – has been formally awarded a banking license in Côte d’Ivoire.  The Group opened a Representative Office in December 2013, signalling a drive towards establishing a presence in Francophone West Africa, and is now gearing up to commence banking operations in a market which stands out for its diverse, rapidly growing economy and business friendly reputation.    

The country currently enjoys one of sub-Saharan Africa’s fastest GDP growth rates, expected to maintain 7% or more over the next three years.

“We are delighted to be actively expanding into this attractive market alongside many of our existing multi-national corporate clients and look forward to partnering with them and other players, as well as supporting enterprises considering entering Côte d’Ivoire and the wider region for the first time”, says Stanbic Bank CEO Hervé Boyer. 

Mr Boyer says Stanbic Bank in Côte d’Ivoire will provide the same high quality Corporate and Investment Banking products, advice and service experience that customers have come to expect across the continent. 

This most recent banking license is seen as a milestone for Standard Bank Group, Africa’s largest lender by assets, which prizes its ‘on-the-ground’ footprint across the continent, now 20 countries, and views its ability to support clients locally as a defining competitive advantage. 

The mostly French speaking West African Economic and Monetary Union (UEMOA) region was identified as a key growth opportunity and an excellent strategic fit for the Group which has committed to play a leading role in driving Africa’s growth.  “With the addition of Côte d’Ivoire to our portfolio, we will be able to meet our clients' banking needs in one of the continent’s most exciting growth regions”, says Victor Williams, Head of Corporate and Investment Banking for Africa.

UEMOA as a whole is regarded as having substantial business advantages stemming from its stable single currency, shared central bank and stock exchange, as well as its increasingly harmonized business legal structures and burgeoning population.  Côte d’Ivoire is ideally positioned as a hub for the region which also includes Benin, Burkina Faso, Guinea-Bissau, Côte d’Ivoire, Mali, Niger, Senegal, and Togo.

The key drivers behind Côte d’Ivoire’s well-diversified economic growth are public investment led initiatives in power and infrastructure in conjunction with successful public-private partnerships, natural resources (oil, gas and mining), agriculture, telecommunications, and the country’s consumer market – all linked to core sectors of activity for Standard Bank.  

As a bank rooted in Africa with a 153 year history, Standard Bank is committed to broadening and deepening its footprint on a continent we call home and to being Africa’s leading financial services organisation.

Côte d'Ivoire at a glance

Côte d'Ivoire has resumed cooperation with its regional states and is a member of the Economic Community of West African States (ECOWAS). Monetary policy is directed by the Central Bank of West African States (BCEAO – Banque Centrale des États de l'Afrique de l'Ouest) that explicitly targets price stability.

Côte d'Ivoire uses the West African CFA franc which is regulated by BCEAO, and shared by Benin, Burkina Faso, Guinea-Bissau, Mali, Niger, Sénégal and Togo. The West African CFA franc is now pegged to the euro.

Quick view:

  • Population: 24 790 000
  • Nominal GDP: USD29.96 billion
  • Real GDP growth: 8.2%
  • CPI: 1.3%

* 2015 forecast

Sector expertise in Côte d'Ivoire

Key drivers behind growth in the country are public investment initiatives in infrastructure, natural resources (oil and gas, mining), commercialisation of agriculture, consumer market potential, Chinese-led investment, and the importance of Côte d’Ivoire in the West Francophone Africa region.

Standard Bank primarily services clients across sectors such as power and infrastructure, mining and metals, and real estate. We also have strong value propositions in telecommunications and media, public sector, agriculture, international development groups, and retail – all of which are important in developing a diversified, stable and sustainable economy.

Our sector specialists provide insights into the conditions and challenges faced on-the-ground by our clients. We develop working solutions by understanding all players in the sector value chain, and coordinate and execute our clients’ financing and banking requirements within and across continents. Moreover, we leverage the expertise of sector experts and product specialists at a group level to develop working solutions for our clients.

Read more about Standard Bank Group’s sector specialism.

Products and services in Côte d'Ivoire

The Côte d'Ivoire office serves as a sales and distribution hub for Corporate & Investment Banking in the region. It is staffed by an experienced team who understands the region, local regulations and market dynamics. It supports closer links to business opportunities in West Africa, and provides regional corporate and multinational clients with a deep understanding of the market and its challenges.

We leverage Standard Bank's extensive presence to develop solutions that work for our clients, supported by our global network of experts with world-class risk and capital management systems. We offer a range of financing products and services, including asset finance, project finance, and structured trade and commodity finance.

Dedicated client relationship managers provide a single point of entry into Standard Bank's full financial services competencies.

Read more about corporate and investment banking solutions for your business.

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Côte d'Ivoire

Standard Bank a inauguré son bureau de représentation en Côte d’Ivoire en février 2014. Celui-ci a pour but de servir les intérêts et de satisfaire aux besoins de nos clients en Afrique de l’Ouest francophone.

Nos services sont principalement destinés aux secteurs de l’agriculture, du pétrole et du gaz, aux secteurs miniers et de l’énergie, ainsi qu’aux projets d’infrastructure. Grâce à l’étendue de ses capacités et à sa présence dans toute l’Afrique et sur les principales places financières, Standard Bank Group propose une gamme complète de produits et de services financiers, y compris en matière de financement de projet, de financement structuré du commerce et de financement des matières premières. Nous nous appuyons également sur la renommée mondiale des systèmes de gestion des risques et de gestion du capital de Standard Bank pour vous proposer des solutions offrant une véritable valeur ajoutée à votre entreprise.

Nos directeurs de la relation avec la clientèle s’engagent à vous offrir un accès total à nos compétences en matière de services financiers et ce, dans le monde entier. Pour de plus amples informations sur nos offres mondiales, veuillez cliquer sur les liens ci-dessous.

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Contact us

Stanbic Bank - Côte d'Ivoire - Bureau de Representation

Immeuble Stanbic Bank
Boulevard Valery Giscard d'Estaing
26 B.P. 701 Abidjan 26
Côte d'Ivoire

  +225 21 00 44 44

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