Decolonising finance, Africanising banking

Décoloniser la finance, africaniser la banque

François Pacquement
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François Pacquement: AFD - Agence française de développement

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Abstract: After its creation during the Second World War, the Caisse centrale took on the task of ensuring that the banking sector in Africa was less heavily focused on trade. In order to finance local development, the Caisse centrale established credit subsidiaries, which would incentivise commercial banks to offer better services and longer term finance. After independence, there was a process of Africanisation which focused initially on human resources. France chose to carry on its involvement in public or private entities, and further promote the banking sector as a development infrastructure. The Caisse centrale offered technical assistance and training, together with concessional loans. In the 1980s, the structural adjustment process led by the Bretton Woods Institutions ended up these national development banks.

Date: 2016-10-13
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Published in Business, decolonization, development, Oct 2016, Strasbourg, France

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