THE COTE D’IVOIRE MARKET OVERVIEW
Côte d’Ivoire is lone of the most dynamic economies in West Africa and key to unlocking the francophone Sub-Saharan Africa market. v The economy averaged over 8 percent economic growth from 2012-2017, and strong growth is expected to continue through 2020. This positive outlook is underpinned by an improved political environment and stable inflation. The Government of Côte d’Ivoire (GOCI) supports private sector-led growth and has worked hard to improve its investment climate and build economic infrastructure to allow businesses to thrive.
The country welcomes foreign investment and hopes to attract more than $37.5 billion in private sector investments through public-private partnerships to implement its 2016-2020 National Development Plan (NDP). The NDP aims to boost sustained and inclusive growth through proposed large infrastructure projects, driven by the private sector.
Côte d’Ivoire is a lower middle income country with a growing consumer class supporting a vibrant retail and restaurant sector. Côte d’Ivoire has been a business and transportation hub for the entire West African region since the early 1960s.
After the end of the 2011 political crisis, Côte d’Ivoire’s economy has rebounded sharply, resulting in 7.7 percent GDP growth in 2016 and 7.8 percent GDP growth in 2017. Robust growth is expected to continue with forecasts of 7.4 percent GDP growth in 2018 and 7.1 percent GDP growth in 2019. THE COTE D’IVOIRE has implemented measures to strengthen transparency, improve governance and attract, investors, business personnels and companies as well.
A new commercial court was created to help ensure impartiality and accelerate dispute resolution. Th GOCI enacted to improved the telecommunication codes to improve the operational environment for the business in those Sector and plans to Update the investment code. COTE D’IVOIRE mining potential is significant with untapped resources, including GOLD, IRON ORE, COPPER BAUXITE, and DIAMONDS. Recent Oil discoveries have been injected in major projects underway to boost the country hydroelectric and thermal power capacity.
Numerous business opportunities exist in agribusiness, Especially value-added processing of cotton, cashew, palm palm oil and rice. Other opportunities exist in the dealing and sale of machinery and construction equipment; power generation mining,gas and oil exploration.