Rebels open first savings bank in north

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.