Ivory Coast: Towards a favourable regulatory environment for mobile banking

Mar 14, 2013

The Ivorian government is currently working to improve the regulatory environment for mobile financial services, an official has revealed.

The Ivorian government is currently working to improve the regulatory environment for mobile financial services, an official has revealed.

Chief of staff of the Ivorian Ministry of Post and of Information and Communication Technologies (ICT) Appeté André made this announcement during the fifth edition of the electronic payment and banking conference (SimBank 2013), which opened on Tuesday (March 12th) in Abidjan.

On the same day, the president of the Association of Banks and Financial Institutions in Côte d'Ivoire, Diarrassouba Souleymane, called for a wider use of ICT to stimulate the development of banking services.

"We want to develop the ICT sector, including the emergence of the mobile phone as a financial tool. This will increase the rate of access to banking services," he said, quoted by the newspaper Fraternité Matin.

The rate of access to banking services in Ivory Coast is relatively low - at around 14 per cent - and the development of mobile banking appears to be one of the most effective ways to reverse this trend.ADNFCR-2976-ID-801556293-ADNFCR