Advisory Board Portrait : Paul-Harry Aithnard

Today with Paul-Harry Aithnard, Managing Director, Ecobank Ivory Coast & Executive Regional Director WAEMU, Ecobank

Choiseul 100 Africa is a crucial initiative to promote the continent’s young economic leaders and to facilitate high-level exchanges between economic and political decision-makers.

How is Ecobank Côte d’Ivoire, a leading pan-African bank, contributing to support economic transformation in Côte d’Ivoire, particularly by positioning themselves as a digital hub for West Africa?

Ecobank Côte d’Ivoire is and wishes to remain an important player in the ongoing economic transformation of Côte d’Ivoire by capitalizing on technological innovation. It can be a vector of innovation by investing massively in the digitalization of its financial products and services, as well as being a contributor by developing the digital ecosystem. Thus, Ecobank has significantly invested in:

The digitalization of its banking services, allowing a wider access to financial services through its platforms accessible by phone and online. This includes solutions such as Ecobank Online, Ecobank Mobile, or Omni, an electronic payment platform enabling an efficient account and transaction management across multiple countries. Ecobank is also committed into promoting Digital Entrepreneurship by actively mobilizing technology industry players through several initiatives and its involvement in the associative life of the fintech ecosystem. The alignment of our strategy with the National Digital Strategy is another important axis in our transformative will. We have accompanied the State and private actors in significant investments that have an impact on the digitalization of payment methods and financial inclusion. This strategic plan aims to transform the Ivorian economy by integrating more digital services and improving access to financial services for all.

Furthermore, by offering financing solutions and facilitating access to digital payment facilities, Ecobank helps SMEs to integrate into the formal economy, which is essential for their growth and their ability to contribute to the economic transformation of the country.

Ecobank’s commitment to digitalization and improving the customer experience in Côte d’Ivoire and beyond is well known. How do the bank’s recent strategic partnerships, such as the one’s with the Ministry of Tourism of Côte d’Ivoire or the African Football Confederation (CAF), fit into these commitments?

*These collaborations illustrate well how the bank integrates its digitalization objectives with concrete initiatives that directly impact consumers and businesses across the continent.

The partnership with the Ministry of Tourism and Leisure of Côte d’Ivoire is focused on the digitalization of payment services related to tourism. By integrating advanced technological solutions, Ecobank facilitates transactions for tourists and local operators, making the process more efficient and secure. This includes a simplified way of electronic payments and access to financial services through mobile, which significantly improves the customer experience while promoting the local economy.
Through the collaboration with the African Football Confederation (CAF), Ecobank has contributed to modernizing the experience of supporters and participants in the competition, by facilitating the purchases and transactions in stadiums through its digital platforms. This initiative has been a plus in the user experience and a showcase for Ecobank’s digital innovation capabilities on a pan-African scale.

In an economic context undergoing through a rapid digital transformation, how can Ecobank and traditional banking institutions in Africa adapt and innovate to meet the diverse and specific needs of populations while promoting broader financial inclusion and ensuring transaction security?

Our mission is to provide accessible, innovative, and high-performing financial services. Technology only can enable us to achieve this mission quickly and on a large scale. We want to be a key player in financial inclusion. Subsequently, to extend the access to financial services, Ecobank partners with government entities and other institutions, as we have seen previously, the objective is to digitize tourism services, by facilitating transactions for visitors and stimulating the local economy. We are working to promote the use of financial technology to reach unbanked populations. The massive adoption of mobile banking in Côte d’Ivoire illustrates how digitalization can offer a wider access to financial services. Security being a major concern, Ecobank invests in advanced technologies to secure digital transactions. Systems such as 3D Secure for cards, as well as SMS and email alerts for transactions, are examples of measures taken to protect customers against fraud and suspicious activities. Finally, to support this digital transition, Ecobank also allocates resources to educate its customers about the benefits and the security of digital banking solutions. Financial education helps to reduce digital banking services distrust and encourages a wider adoption.

I would like to encourage young people to become entrepreneurs massively. The digital industry is undoubtedly the sector with the highest potential if associated with mass job-creating sectors such as industry, technology, education, or health. It is crucial to develop solutions that meet the specific needs of local populations while promoting broader financial inclusion. I also emphasize the importance of resilience and perseverance in building entrepreneurial success. My message is a call to a new generation of entrepreneurs, massively driven by private initiative and bold decisions and directions, using new technologies to overcome the economic and social challenges of Africa.

I believe that these initiatives are crucial for promoting young economic leaders from the continent and for facilitating high-level exchanges between economic and political decision-makers.The Choiseul 100 Africa, by identifying and put in place a network each year the 100 economic leaders under 40, plays an essential role in highlighting the new generation of leaders destined to positively impact the economic development of our continent. This initiative creates a unique pan-African network of influence, stimulating the sharing of ideas and opportunities between emerging and established leaders. I also appreciate the way that Choiseul Africa Business Forum manages to bring together influential decision-makers from Africa and Europe to discuss major economic challenges and explore opportunities for cooperation. The forum acts as a catalyst for structuring partnerships and for the growth dynamic on the continent.