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Financial environment update

February 7, 2018

In one year the dollar to CFA value has dropped with 100 CFA per dollar. This is not helping us as the value of what we get for our raised $$ is significantly reduced.

For $20.000 today we would get 10.480.000 CFA (just using the rate in xe.com while the actual rates bank would give is less) whereas a year ago it would have been 12.480.000 CFA. So just like that our project has become much more expensive, plus that the value of raw material is also increasing a lot as many constructions are happening. For example cement and wood are very precious commodities and we need to use both.

However on the plus side it’s very positive the Ivoirien economy is strengthening!! Let’s go Côte d’Ivoire!!

www.lecoledesenfants.com 

 

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