Over the last decade, the WAEMU region has recorded significant economic growth by showing resilience to shocks. Annual growth has remained steady (+5.3% on average) and above the sub-Saharan average (+3.1%), driven mainly by investments. Such process has evolved alongside an improved per capita income, which has increased year in year out, averaging 2.4% compared to 1.8% in sub-Saharan Africa. This performance was also made possible on account of sound macro-economic management and solid foundations. BOAD has played its part by funding key projects in the public and private sectors. Now more than ever, BOAD should continue to fully and skillfully fulfill this role: this is the intent of Djoliba.
Djoliba, as named after the majestic river Niger, very typical of our sub-region. A feeder artery which flows through the lands of many WAEMU member countries, it serves as a link between the peoples of West Africa, and connecting with the Atlantic Ocean, a central point for the countries’ developing economies.
Djoliba has likewise become the name of the BOAD’s 2021-2025 strategic plan. More than a symbol, it shows our commitment as institution, fully embracing the mission assigned to it by its founders 47 years ago. BOAD will be the leading bank making a strong impact on the integration and transformation of West Africa.
As a bedrock for our actions, such vision bears responsibility as the needs of the sub-region are as huge as crucial. Indeed, the sub-continent is committed to combating, inter alia, widespread poverty, socio-economic disparities in terms of income, access to education and health care. Member countries are equally committed to address climate change, food insecurity and security crises, particularly in the Sahel area. Moreso, the sub-continent faces a transport and electrification infrastructure gap as well as a deficit in housing including affordable and low-cost housing that need to be addressed on urgent basis. Finally, the digitalization of services and production processes as well as the strengthening of regional value chains through support to private sector MSMEs are also a strategic requirement for the sub-region.