Côte d'Ivoire |
Politics | Economy - Development
Abidjan seeks quick economic recovery
Only this week, a large number of international companies announced the resumption of their Abidjan operations, causing great hopes in Côte d'Ivoire that the country's economy can recover quickly after more than a decade of conflict.
Also international banks that had fled Côte d'Ivoire during the unrest are hurrying to reopen Abidjan offices to assure their shares in the post-conflict market.
The latest announcement is from the French bank Société Générale, saying it is in a rush to reopen its Ivorian branch SGBCI. The bank, on equal basis with others, had experienced large damages to its headquarters, offices and computer network during the conflict, a spokesman informed.
Most promising, the key African Development Bank (AfDB) is already discussing a return to Abidjan. The AfDB, which finances development projects all over the continent, had to flee its Abidjan headquarters in 2003, symbolising a major blow to the city as Africa's banking capital.
The AfDB has been temporarily headquarters in Tunis, which also has experienced unrest during the last half year.
AfDB governors last week "reaffirmed that the Bank's headquarters remains Abidjan and it welcomed the recent encouraging and positive developments in Côte d'Ivoire, which it felt would in due course lead to improved security, permitting the Bank to return to its headquarters," according to a statement.
The full resumption of banking and other economic activities in Abidjan however depend on the new government's ability to provide stability and security. While the market currently is optimistic, even minor drawbacks could still easily shake confidence.
By staff writers
© afrol News
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