imported 2024-03-17 17:43:07
The main obstacle for Ivorian entrepreneurs, especially in capital intensive industries, is to secure long term financing. Mr. Eholie, an Ivorian entrepreneur talks about entrepreneurship in Côte d’Ivoire and how Simat is trying to secure long term financing.
In a video interview, Mr. Eholie, an Ivorian entrepreneur, offers his advice for the international investors that consider investing in West Africa.
Video interview with Michel Hérbert assessing current situation in Côte d’Ivoire and outlook for the telecom sector. According to Comium the vision of the ministry of PTIC, to transform Côte d’Ivoire onto a knowledge economy is feasible within the next decade.
SIFCA’s partners are Wilmar (Wilmar International Limited is an investment holding company engaged in the provision of management services to its subsidiaries. It operates in five segments: palm and laurics comprises the merchandising and processing of palm oil and laurics related products) and Olam (Olam International Limited operates as a supply chain manager and processor of agricultural products and food ingredients primarily in Asia, the Middle East, Australia, and Africa. The company engages in sourcing, processing, packaging, and merchandising agricultural products. It operates in five segments: Edible Nuts, Spices and Beans).
The biggest challenges for SIFCA and many other regional companies is smuggling and not respecting the free trade agreements. ECOWAS region still needs to develop and enforce the free trade between the member countries. Second issue is smuggling, due to the post-electoral crisis in Côte d’Ivoire the borders are loosely secured; widespread smuggling of sugar from South America and palm oil from Asia, free of any taxes/duties is rampant. The local companies are at the disadvantage. Despite the challenges, SIFCA remains optimistic for the future. With security restore the border issue should be resolved.
The CEO of SIFCA reveals the investment strategy of the one of the leading company in Cote d’Ivoire. The company invests while economic conjuncture is favorable (i.e. elevated prices of commodities – rubber, palm oil and sugar) and divest when the prices are low. Currently, SIFCA is investing in improving the capacities and efficiencies for the palm oil refineries and replanting the palm oil farms to reduce costs.
The leading group in Côte d’Ivoire, SIFCA is bullish on the future of this African country. Bertrand Vignes, the CEO says “If stability continues the country is to become the future engine of the regional growth.” The largest economy in francophone West Africa will trigger the growth of the surrounding economies. The country has to invest in infrastructure to shorten the gap between Asia and Africa.
Thierry Papillion, General Manager of Alios Finance
Alios Finance is complimentary to the banks and provides services to SMBs, which often say that banks are their nightmare. Alios Finance is close to its clients and works only in half of the banking field. Alios Finance is considered as a precursor to leasing because it started leasing in 1976.
Souleymane Diarrassouba, Chief Executive Officer of Banque Atlantique
Banque Atlantique Côte d’Ivoire is the oldest entity of the Atlantic Financial Group; it was founded in 1978. In the end of 2008, Banque Atlantique Côte d’Ivoire became third on the market. Currently, it is the second.
Souleymane Diarrassouba, President of APBEF-CI
Banks in Côte d’Ivoire were not spared from the effect of the post-electoral crisis; for the first time in Côte d’Ivoire history they had actually suspended their activities.
