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Ivory Coast's government has approved the sale of the state's 10 percent stake in NSIA Banque Cote d'Ivoire as part of a privatisation programme, spokesman Bruno Kone said on Friday after a cabinet meeting in the commercial capital Abidjan.

 

Ivory Coast, the world's biggest cocoa grower, had in 213 announced plans to sell its shares in 15 companies.

 

Five percent of the lender will be ceded to Ivory Coast's cocoa and coffee marketing board, the Coffee and Cocoa Council. The remaining shares will be sold via West Africa's regional BRVM bourse.

 

NSIA Banque Cote d'Ivoire, then called BIAO-CI, had total capital estimated at 20 billion CFA francs ($34.5 million) when the government announced its intention to sell its stake.