JBIC economist for Africa presents on economic prospects of Africa and Côte d'Ivoire at the Euromoney Côte d'Ivoire Conference

Picture (Kotaka in an interview)

On March 28, 2017, Teruaki Kotaka, Senior Economist of Country Credit Department, Japan Bank for International Cooperation (JBIC), participated at the Côte d'Ivoire Conference (28-29 March) hosted by Euromoney Conferences and co-hosted by the Government of Republique de Côte d'Ivoire in Abidjan. Kotaka discussed on a one to one keynote interview on the economic prospects of Africa and Côte d'Ivoire.

The conference was an international seminar in which H.E. Mr. Daniel Kablan Duncan, Vice President of the Republic of Côte d'Ivoire, H.E. Mr. Adama Koné, Minister of Economy and Finance, government officials, financial institutions, and international corporations discussed the macroeconomic environment; the opportunities and challenges in the main sectors; and the investment opportunities in Côte d'Ivoire. The conference welcomed over 200 attendees from corporations, banks, governments, and government agencies, and stimulated active debates between experts from several fields.

Following Vice President Duncan's keynote speech and interview, Kotaka, who is in charge of Africa at the Country Credit Department of JBIC, was interviewed by Mr. Christopher Garnett of Euromoney discussed about Africa's economic outlook, Japanese support for Africa, and on the prospect of Côte d'Ivoire becoming an emerging country by 2020. In respect to the Japanese support for Africa, he outlined the initiatives announced at the Tokyo International Conference on African Development (TICAD) VI, as well as the possibility of partnership between Japan and Côte d'Ivoire, including the provision of high-quality infrastructure. On the future economic outlook of Côte d'Ivoire, Kotaka referred to the fact that Côte d'Ivoire has recently been one of the countries with the highest economic growth in Africa. Regarding the country's advantages for attracting direct investment, he pointed to the stability of their currency, CFA franc; the potential of becoming a hub in Western Africa; and the relatively developed environment for building infrastructure based on the experience under the public-private partnership. On the other hand, he explained that Côte d'Ivoire has a relatively low savings rate when compared with East Asia and Southeast Asia. This may cause limitations on sustaining high-level investment. He concluded that raising the savings rate while utilizing the direct investment will be the key to maintaining the country's growth.

JBIC will continue to provide a wide range of information related to the international economy and finance through participation in such international conferences.

*The content of the presentation in this conference is based on the personal view of the presenter, not of JBIC.

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