Treasury Management Internation Logo

Commerzbank opens representative office in Ivory Coast (Côte d’Ivoire)

  • Office in Abidjan starting with 5 members of staff
  • Bank thus increases number of locations in Africa to 7

Commerzbank AG is opening a representative office in Abidjan, the economic metropolis of Ivory Coast, thus expanding its network on the up-and-coming African continent. This means that Commerzbank, which has been operating in Africa since 1952 and maintains business relations with 50 of 54 African countries, is in¬creasing the number of its locations on the continent to 7. Commerzbank’s strategic target is to increase its presence precisely in global growth markets. The new representative office will be a contact for local banks and for German and international companies in French-speaking West Africa.

The head of the office in Abidjan, which has 5 members of staff, will be Konrad Engber (41). In his many years of working for Commerzbank, Engber has gathered extensive knowledge of the special economic and cultural characteristics prevailing on the African continent. He has already been Commerzbank’s represen¬tative in Addis Ababa, Ethiopia, and Tripoli, Libya.

Today Commerzbank is already the number 1 German-speaking bank in Africa. It has customer relations with 550 private and state-owned financial institutions, 29 central banks and sovereign wealth funds, as well as ministries and private companies on the continent. Currently more than 100 employees work in African business operations in various areas of the Group.

In the past few years, Ivory Coast’s economy has grown on average at rates of more than 9 per cent, boosted by a stable political framework, massive public and private investments, and structural reforms. In addition, economic relations between Africa and Europe will continue to develop dynamically. Commerzbank will participate in this growth process. “To take this development into account, we are also going to set up an African research hub in the new representative office,” explained Christof Gabriel Maetze, Global Head Financial Institutions at Commerzbank AG. “The intensive exchange with our colleagues in other African Locations and the bundling of information allow us to come even closer to market activity on the African continent,” said Maetze.

In Africa, Commerzbank also has representative offices in Johannesburg, Cairo, Addis Ababa, Lagos, Tripoli, and Luanda. The Bank is represented at more than 70 locations in over 50 countries worldwide. Its Financial Institutions division has a network comprising more than 5,000 correspondent banking relationships.

With a customer base of more than 100,000 small and medium-sized enterprises (revenue of more than €2.5 million) and banking relationships with just about all major German companies, Commerzbank regards itself as a strategic partner for corporate customers regionally, nationally in Germany, and internationally on the global markets of Germany’s strongly export-oriented economy.

Most recent episodes

The Future of ESG in Treasury

In this podcast, Melissa Moi, Peter Jameson and Venkat ES from Bank of America join TMI’s Eleanor Hill to determine where the ESG journey is heading next. Our expert panel consider how changing regulation, technology solutions and metrics including ESG KPIs...


HSBC’s Sibos Spotlight: Investing in the Future – from Diversity to Green Deposits

In the final instalment of HSBC’s Sibos Spotlight, Eleanor Hill (TMI) invites Nadine Lagarmitte and Suraj Kalati (HSBC) to consider how corporates’ attitudes to...


HSBC’s Sibos Spotlight: The ESG Landscape – what every treasurer needs to know

In the third edition of HSBC’s Sibos Spotlight Podcast series, TMI’s Eleanor Hill invites Farnam Bidgoli (HSBC) to provide an in-depth overview of the current ESG...


The Path to Transformational Global Cash Visibility

Davina Bradley (CEVA Logistics) and Conor Deegan (CashAnalytics) join TMI’s Eleanor Hill to explore how treasurers can transform their cash visibility and forecasting within their business in a matter of weeks using a...


HSBC’s Sibos Spotlight: Embedding ESG in Trade and Supply Chains

In the second podcast from HSBC’s Sibos Spotlight series, TMI’s Eleanor Hill speaks to Surath Sengupta (HSBC) about embedding ESG into trade and supply chains....


Lost in Transaction: Overcoming Payments Pitfalls

From simple errors to duplicates, fraud and sanctions violations, there are a number of areas where payments can go wrong – especially in the real-time environment. In this podcast, TMI speaks to Andrew Ferrao...


HSBC's Sibos Spotlight: Central Bank Digital Currencies

The first edition of HSBC’s Sibos Spotlight series sees TMI’s Eleanor Hill joined by Mark Williamson and James Pomeroy (HSBC) to discuss the hot topic of Central Bank Digital Currencies (CBDCs). Our guests discuss...


Payments Vision 2025: The Inside Track

Wim Grosemans, Steven Lenaerts (BNP Paribas) and Wim Raymaekers (SWIFT) join TMI’s Eleanor Hill to outline their vision for the payments landscape in 2025. Our guests consider how recent developments such as instant...


Stepping Out from the Shadows

“Treasurers needs to step out of the shadows and into the sunshine in terms of their strategic contribution.” claims Zitah McMillan, Co-Founder and CEO, Predictive Black. In this podcast, hosted by TMI’s Eleanor Hill, our guest declares that the...


Why the ‘One Size Fits All’ Approach is Outdated - A Cash Segmentation Treasury Masterclass

With the ongoing low interest-rate environment and increasing regulatory change, it’s more important than ever for treasurers...