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Rebels open first savings bank in north

[Cote d'Ivoire] The first savings bank in the rebel-held north of Cote d'Ivoire opens its doors to the public in Bouake in February 2005. IRIN
The new savings bank for northern Cote d'Ivoire
    BOUAKE

    A businessman closely linked to the rebel forces occupying northern Cote d'Ivoire has opened a new savings bank which will operate exclusively in rebel-held areas of the West African country.

    All other banks in rebel territory have been closed since civil war broke out in Cote d'Ivoire in September 2002, plunging businesses in the north into a financial crisis and forcing individuals involved in commerce to conduct most of their transactions in cash.

    Bonaventure Kouassi, the director of LONUCI, the national lottery run by the rebel authorities, opened the first branch of his savings bank, the Caisse d'Epargne Populaire et de Credit de Cote d'Ivoire (CEPC) in the rebel capital Bouake on Monday.

    Rebel leader Guillaume Soro immediately deposited one million CFA francs (US$2,000) to open an account and several other senior figures in the rebel New Forces movement queued up behind him.

    Kouassi said he planned to open further branches of CEPC in the rebel towns of Korhogo, Man, Seguela, Odienne and Bouna during the coming months.

    South African President Thabo Mbeki is currently spearheading a mediation to try to solve the crisis in Cote d'Ivoire so that the country can be reunified and elections held on schedule in October. But so far he has little success in breaking the deadlock.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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