Ouagadougou: African states must equip themselves with instruments to finance strategic sectors of the economy. It is the state that decides on the priority sectors for its development, for economic development. And states must also equip themselves with substantial means to be able to influence these sectors, says Cheick Travaly, co-founder of a pan-African organization called MANSSAH.'I am in favor of deliberate state intervention in the financial sector. And I see it in some countries. The state is taking control of banks that are being privatized. Or banks for which the original shareholders are leaving. I see it in Côte d'Ivoire, I see it in Senegal, I see it in some countries,' justifies the former bank director, Cheick Travaly.For the independent administrator, If the State decides that SMEs and SMIs are important, let it create a bank to finance SMEs and SMIs. If the State decides that agriculture is strategic and important, let a financial institution be set up to finance agriculture."This goes against the grain of normal, orthodox thinking, which says that the State should not invest in these areas, it should leave it to the private sector. But today, it is necessary to do so," justifies Mr. Travaly.The expert in financial matters believes that he is from the generation of those who have seen all public banks go bankrupt. But he calls on African countries to learn from the mistakes of the past. Any situation that involves choosing competent people.Decision-makers must ignore everything political, in the appointment of these skills, everything ethnic, everything religious, he insists.Source: Burkina Information Agency