Advisory Board Portrait : Sébastien Kadio-Morokro
Today wirh Sébastien Kadio-Morokro, Chief Executive Officer, Pétro Ivoire
To the young decision-makers of Africa, your leadership is crucial for Africa’s future development Be bold, innovative and resilient
As Managing Director of Pétro Ivoire, a company specializing in the distribution of petroleum products and derivatives, how do you assess the impact of oil price fluctuations on the petroleum product distribution industry in Africa, especially in Ivory Coast, and what strategies are you implementing to mitigate these effects on your company ?
Fluctuations in oil prices have a significant impact on our industry. With the specificity of our market, where pump prices are set by the government, these fluctuations impact the profits of distributors. In terms of strategies we can mention, continuous investments in improving our business processes to reduce costs and increase our efficiency. We are also diversifying our services by offering by-products and complementary services, such as charging stations for electric vehicles (projects under implementation), in order to reduce our dependence on petroleum products alone. We also have the optimal management of inventory levels, to better manage price changes and ensure continuous availability for our customers.
How are you helping to ensure the country’s energy security and meet the growing energy needs in the region, especially in a context of growing demand?
Petro Ivoire plays a crucial role in Ivory Coast’s energy security. Our contributions include significant investments in the expansion and modernization of our service station network, the provision each year of thousands of gas cylinders to households and the construction of butane gas storage depots and filling centres.We are working to develop renewable energy projects, such as solar installations in our service stations, to diversify our energy sources and reduce our carbon footprint. We implement energy efficiency initiatives, both within our operations and by educating our customers’ awarenes of rational energy use. We work with the authorities to support national energy policies and thus participate in energy development projects that meet the growing needs of the population.
What impact do you think the IMF’s approval of a new tranche of financing will have on Ivory Coast’s business environment, particularly in terms of economic stability and investor confidence?
The IMF’s approval of a new tranche of financing has a positive impact on the business environment in Ivory Coast. It strengthens economic stability and investor confidence in several ways. This IMF support contributes to macroeconomic stability, which is essential for a favourable investment climate. This includes better public debt management and controlled inflation. This IMF’s approval is seen as a validation of the government’s economic policies, thus increasing the confidence of domestic and foreign investors. The favourable conditions created by IMF support could enable companies to benefit from better access to financing. This would stimulate investment and economic growth. This is certainly the wish of the private sector!
To young African decision-makers, I would say, “Your leadership is crucial for Africa’s future development. Be bold, innovative and resilient. Invest in education and skills development as these are the drivers of transformation. Collaborate and share experiences to overcome common challenges. Finally, commit to promoting sustainable and inclusive growth that benefits all segments of society. You have the potential to transform our continent; believe in your capabilities and work together for a prosperous future.