Caisses des Dépôts et des Consignations: the African Development Bank provides the keys for improved management of investments and public savings

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This training session brought together at least 70 representatives of the Caisses des Dépôts et des Consignations (CDC) around various themes.

The African Development Bank (www.AfDB.org) has provided the five Caisses with deposits and consignments in the West African Franc Zone as well as those from Gabon and Tunisia, the tools necessary to better manage public savings and investments during a training and reinforcement session organized by videoconference from January 20 to 21.

This training session brought together at least 70 CDC representatives around a variety of themes: asset and liability management, portfolio and credit risk management, loan and guarantee instruments, equity investments. The Bank's experts, notably from the Financial Sector Development Department (PIFD) and the Capital Markets Development Division, shared with senior CDC officials in Benin, Burkina Faso, Côte d ' Ivoire, Niger, Senegal, Gabon and Tunisia, the Bank's experience. 

They scrutinized asset-liability management; the asset-liability management framework; the governance ; they explained in particular how the Bank protects its interest margin by managing its interest rate risk; and how it manages its liquidity risks to cover its annual obligations. Saoudatou Dème (Capital Markets Development Division) presented the risk management of non-sovereign operations (operations that do not concern States), which do not benefit from a State guarantee but which are reserved for private companies, projects, commercial or development banks. These presentations enabled fruitful discussions on the experience of the African Development Bank.

The Director of the Bank's Financial Sector Development Department, Stefan Nalletamby, welcomed this cooperation with the CDCs of the participating countries: “I am very pleased with the enthusiasm generated by this first collaboration between the African Bank and the West African Monetary Union (WAMU) CDC. The strong representation of the five CDCs in the area, but also the participation of the sister CDCs of Tunisia and Gabon attests to the importance for the CDCs of the training themes designed by our Capital Markets Development Division to share the Bank experience. " 

According to the director general of the CDC of Côte d'Ivoire, Lassina Fofana, also president of the permanent consultation framework of the CDC of the UMOA, “this partnership between the Caisses des Dépôts et de Consignations and the African Development Bank must serve as a bridge between CDCs, our states and other development finance institutions in financing our national economies. " 

CDCs play a unique role in the long-term financial investment community by virtue of their modus operandi, which consists of managing the regulated savings entrusted to them by states and transforming them into investments in sectors of interest public such as infrastructure, businesses or housing. To this end, they play an important role of institutional investor in the domestic financial market of which they become, in fact, an important facilitator. Beyond their role as long-term investors in sectors of general interest, CDCs can catalyze private capital by co-financing their activities. In UMOA, the CDCs are grouped together in a permanent consultation framework. 

Its members have different backgrounds, some of them relatively young, hence the need for capacity building. "The direct and indirect support that the Bank can provide to CDCs is fully in line with our role as a development partner of West African countries," Stefan Nalletamby concluded.

Cassien Tribunal Aungane, Editor

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