Côte d'Ivoire

Côte d’Ivoire is one of the region’s fastest-growing economies, with annual GDP growth that has averaged above 8% since 2013. It is expected to maintain growth of above 7% over the next three to five years. Investment in key sectors and a focus on repairing and upgrading infrastructure is supporting its 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 awarded a banking license in Côte d’Ivoire.  After Standard Bank Group opened a Representative Office in Abidjan in early 2014, which established a presence in Francophone West Africa, it has now commenced banking operations through a fully licensed bank to focus on the needs of its Corporate and Investment banking clients.

Commenting on the launch, Stanbic Bank's CEO for Côte d'Ivoire, Hervé Boyer said: “We look forward to partnering with our clients in Côte d’Ivoire. The team has grown steadily, with Côte d’Ivoire’s vibrant financial services sector and highly competitive banking industry proving to be an excellent launch pad for Standard Bank to expand its services.”

Stanbic Bank Côte d’Ivoire will serve multi-national companies, many of whom already have a relationship with the Group in other parts of the continent or internationally. 

Kenny Fihla, Standard Bank’s Chief Executive for Corporate and Investment Banking said: “Our strategy is focused on sectors driving Africa’s growth through proactive client partnerships that deliver relevant solutions.  We continue to utilise our presence and deep knowledge of the African markets to support our clients’ growth aspirations across the continent and link them to global trade corridors and key financial centres.”

This is the culmination of a deliberate drive by Standard Bank to establish a presence in the Francophone West Africa region with its diverse, rapidly growing economies and business-friendly reputation.”

The West African Economic and Monetary Union (WAEMU), of which Côte d’Ivoire is a member, also offers Standard Bank substantial business advantages stemming from its stable single currency, shared central bank and stock exchange, as well as its harmonised business legal structures. The country is ideally positioned as a hub for the region which also includes Benin, Burkina Faso, Guinea-Bissau, Mali, Niger, Senegal, and Togo.

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: 25 million
  • Nominal GDP: USD45.4 billion
  • Real GDP growth: 7%
  • CPI: 1.2%

2018 forecasts

Sector expertise in Côte d'Ivoire

The key drivers behind the country’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.   

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 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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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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