Côte d'Ivoire Financial Services

Chapter | Insurance from The Report: Cote d'Ivoire 2020

Premium has risen steadily over recent years, although the level of insurance penetration remains...

Côte d’Ivoire is an economic powerhouse in West Africa, posting average growth of 8% between 2011 and 2018. However, the rate of GDP growth in real terms fell to 6.7% in 2019 and is expected to contract to 2.7% in 2020 due to the Covid-19 pandemic and subsequent widespread shutdowns. Looking to the future, the IMF expects growth to rebound to 8.7% in 2021, highlighting the country’s economic resilience. 

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With several years of accumulated growth helping to re-shape the fundamentals of Côte d’Ivoire’s economy, strong overall business performance looks set to boost the country’s insurance sector. Premium has risen steadily over recent years, although the level of insurance penetration remains relatively low, at roughly 2% of GDP in 2018, leaving...

 

As providers operating in Côte d’Ivoire’s insurance sector look for strategies to increase their market penetration, much focus is being directed to the role that product innovation could play in boosting demand. Product diversification is primarily led by the private sector; however, upcoming regulatory changes mean the segment is set to be...

 

The economic situation in UEMOA remained favourable in 2018. The region’s average GDP growth was 6.6%, the seventh consecutive year above 6%, and the average annual inflation rate was 0.9%, compared to 1.1% the previous year. However, with strong capital spending and trade terms turning unfavourable following a rise in global oil prices, this...

 

To what extent could the adoption of the eco currency benefit activity on the BRVM?

 

What are the strengths inherent to the local market that have historically attracted foreign investment?

 

The use of sophisticated algorithms in wealth management is leading to improved efficiency and transparency in the financial services sector, benefitting both providers and clients. In particular, so-called robo-advisory firms are disrupting the industry and helping to boost financial inclusion. Primarily concentrated in developed markets such...

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