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Côte d'Ivoire / Companies: "It is Africa's money that will develop Africa... ", Stanislas Zézé

22/02/2021
Source : ORISHAS FINANCE
Categories: General Information

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Exhibiting, on Thursday, February 18, 2021, on "the competitiveness of organizations in times of crisis: how to reinvent themselves and create value", at the solemn start of the CAMPC in Abidjan, Stanislas Zézé, CEO of Bloomfield Investment Corporation suggested that "it is Africa's money that will develop Africa". This assertion responds to the problem of access for Ivorian and African SMEs to appropriate financing to develop their activities. A need for financing that has become much more vital, in the current context of the Covid 19 health crisis, for SMEs that constitute the bulk of the economies on the continent. For the head of the first financial rating agency in French-speaking Africa, "it has become fashionable for banks to say that they finance SMEs. But in reality, the funding criteria do not correspond to our environment. It is not the environment that adapts to the risk management policy, as is currently the case, but the opposite." Faced with this observation, Stanislas Zézé recommends the use of investment funds. For him, "this financial tool allows the investor to take the same risks as the project promoter or the business manager. This leads him to put his address book, his competence, his network at the disposal of the company and participates in the governance so that the company succeeds". Despite these many advantages, this specialist in financial risk management deplores the type of investment funds operating on the continent. "For the most part foreign, these investment funds finance large projects with envelopes of several billion FCFA, very often excluding SMEs," he says. As a solution, Stanislas Zézé, CEO of Bloomfield Investment Corporation, offers African investment funds, adapted to the economic realities of African countries, with tickets ranging from 50 million to 2 billion FCFA to support SMEs. In a context of crisis such as that of covid 19 that companies, small and large, are all facing, he calls for a strong private sector for much more competitive companies. And this can only be possible if SMEs actually have access to finance for their development. To do this, capital markets must be adapted to their needs with new approaches to value and wealth creation, he concludes.
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