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24/12/2020
IVORY COAST BUSINESS INVESTMENTS FUNDS

Rothschild tasked with setting up

Ouattara's sovereign fund
Currently without a sovereign fund, for several years Ivory Coast
has been using various pension funds for its strategic
investments. Newly elected for a third presidential term, Alassane
Ouattara has asked Rothschild bank to furnish the country with
the financial instrument it is lacking.

A delegation from led by its vice-chairman

was received at the presidential palace by on 15 December. The
secretary-general at the president's office , the president's chief of
staff , and the minister of the economy and finance
were all in attendance. The Ivorian president asked the delegation from
the French bank, which since 2014 has had a consultancy framework agreement
with the country, to look into the modalities of setting up a strategic sovereign
fund.

Ivory Coast already has a (CDC-CI), which is

modelled on France's institution of the same name and is supposed to act as the
investment arm of the state, but it is lacking in funds and essentially exists on
paper only. The country is currently using the
(CNPS), the private sector pension fund, and its civil service equivalent,
the (CGRAE), when it needs to step
in to shore up public companies (Africa Intelligence, 01/04/20).

The future sovereign fund will be designed to underpin Ivory Coast's strategic
development over the next thirty years - a project being overseen by Patrick Achi.
Back in 2019, the late prime minister entrusted
, the merchant bank owned by and ,
with conducting a feasibility study on the creation of such a fund.

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