Côte d’Ivoire seeks partners to take over Versus Bank

The spokesman for the Government of Côte d’Ivoire has announced in a statement that the government plans to issue an international call for tenders as it seeks partners to take over the state-owned Versus Bank.

“We will soon launch an international competitive tender to find a bank specialized in the financing of small and medium-sized enterprises,” Bruno Kone told reporters following a cabinet meeting in the commercial capital Abidjan.

The government decided to sell stakes in 15 companies, including the national telecoms operator, banks, agribusiness and a gold mine  following PricewaterhouseCoopers cabinet report  of  2013 which  suggests a plan to reorganize the  public companies  in  the  country.

 The spokesman reaffirmed the government’s disengagement policy in an  interview with state-owned Daily  “Fraternité  Matin”.

 “There are two logics: certainly, we are in a free market economy and government will continue its strategy of disengagement in productive sectors for the benefit of private sector; but government will keep a presence in banking sector to accompany its activities and finance the development of the country”, he said.

 After a decade of instability, Côte d’Ivoire is now seen as one of Africa’s fastest growing economies along with countries including Ethiopia, Democratic Republic of Congo and Chad.

Under President Alassane Ouattara, a former senior IMF official, the country has invested heavily in large-scale infrastructure as part of efforts to spur on growth.

 The IMF is forecasting a real GDP growth of 7.7 percent this year and 7.8 percent in 2016 in Côte d’Ivoire.

About Khalid Al Mouahidi 4420 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network