Chairing the official launch of the distance learning excellence training program on Thursday, June 18, the Governor of the Bceao said that the initiatives undertaken by the Central Bank have made it possible, in particular, to significantly improve the financing of economies, strengthen the resilience of the banking system, increase the financial inclusion of populations and support growth in Umoa.

Indeed, explains Tiémoko Meyliet KONE who was in videoconference this morning, the stock of public securities mobilized on the regional market, relative to GDP, increased from 8.4% in 2013 to 13.6% in 2019. Performance that doesn't stop there. Because, according to Mr. KONE, "the ratio of credit to the private sector on GDP is 27.1% in 2019 against 19.9% in 2012". Similarly, he adds, the financial inclusion rate in Umoa is estimated at 59.7% in 2019, up 31.1% from its 2012 level. In addition, the credibility and attractiveness of Umoa's banking system has been strengthened, the governor said.

With regard to the framework for issuing electronic money, the Ivorian recalls that it has been modernised, which has contributed to a significant increase in the rate of access to financial services for the populations of the Union in recent years. Indeed, says the boss of the Bceao, this rate has increased from 28.4% in 2012 to 39.2% in 2019.

These performances of the Bceao are made possible by a number of reforms undertaken by the Governor. "Regarding the financing of economies, I would like, among other reforms, to mention the creation, in March 2013, of the WAMU-Securities Agency, which has contributed to considerably increasing the amount of resources raised by Member States on the market. regional public debt," recalls Mr. KONE. He points out that at the same time, a Financial Stability Fund has been set up to mitigate the perception of countries' intrinsic risk, thus limiting investors' and markets' mistrust of public debt.

Also in the context of financing economies, and aware that credit development cannot be achieved without reducing the asymmetry of information between lenders and borrowers in the banking sector, a regulatory framework governing the activity of credit information bureaus (CIBs) has been established. set up. This specific regulatory framework allowed, according to the former Ivorian Minister of Construction, Urban Planning and Housing, the start, in 2015, of the activities of CREDITINFOVOLO, a structure approved as a Credit Information Office in Umoa.

"I must also recall the support mechanism for the financing of SMEs, adopted by the Council of Ministers in September 2015. It aims to provide a coherent response to the problem of access to bank financing for this category of companies. Through the incentives offered by the Central Bank to credit institutions, this means ensuring a better organisation in supporting this category of companies, which represents more than 90% of the companies listed in the Union", finally, notes the governor of the Bceao.