Banks need to finance more key projects

Feb 19, 2014

African banks must play a bigger part in the development of the continent, particularly through the financing of key projects.

African banks must play a bigger part in the development of the continent, particularly through the financing of key projects.

This was one of many themes discussed by Ivory Coast
Prime Minister, Daniel Kablan Duncan during the 25th Annual
conference of the African bank and financial institutions firectors’ club which took place in Abidjan.

To support his point, Mr Kablan Duncan took the example of motorways scheduled for construction in the West Africa sub-region, between Abidjan and Lagos, as well as rail connections. These communication channels would enable an easier flow of people and commerce.

The president of the Ivory Coast Association of Banking and Finance Professionals (Apbef),
Souleymane Diarrassouba, echoed this need for financing.

“We cannot help but notice that many construction sites in Africa lack financing. We need solid banks in Africa to reinvent the way we do banking”, he said.

Mr Kablan Duncan took advantage of the conference to remind attendees that key projects are not the only ones lacking financing, as SMEs also struggle to access funds.

Banking and finance professionals also considered their own future at the event. Among other things, they want to improve their own response to how they react to changes and evolution within their sector.ADNFCR-2976-ID-801695032-ADNFCR