Banking regulations across the UEMOA region have been expanding in scope over the 2016-18 period, centred around three key pillars: namely the introduction and enforcement of new minimum capital requirements; the migration to the Basel II and Basel III frameworks; and cross-jurisdictional collaboration between West African central banks. New Capital Requirements One of the most significant…
Although it has increasingly become an important regional market in itself, Côte d’Ivoire’s geographic position has also made it a preferential destination for fast-moving consumer goods (FMCG) firms to base their regional operations. Attesting to that, several large-scale international operators are pushing through with plans to open new manufacturing and distribution centres to cater…
Since 2011, in the aftermath of the post-election crisis, Côte d’Ivoire has been in a phase of economic recovery, with an average annual GDP growth rate of 9.28% over the period 2012-16. The Ivorian banking sector – the most important in the UEMOA zone – is growing rapidly, driven by the emergence of the middle class, public investment programmes and the return of private investors. The…
Over the next three decades private equity (PE) is set to play a significant role in financing, developing and supporting the private sector in West Africa. The growing number of PE firms with offices in Côte d’Ivoire highlights how its profile has expanded in the years since the civil war came to an end. Indeed, by mid-2017 there were 15 PE funds operating in the country – ranging from…
Initial public offerings (IPOs) have been a key driver of the rise in capitalisation on the Bourse Ré gionale des Valeurs Mobilières (BRVM) equity market recently. The exchange had a standout year in 2016, with four firms coming to market for the first time, raising a combined CFA86bn (€129m) in capital. Together the companies were valued at CFA470bn (€705m) at the time of flotation.…
The UEMOA bond market remains one of the primary sources of internal funding for UEMOA states, with the government bonds market totalling some CFA2.368trn (€3.6bn) and representing 89% of the overall outstanding amount at the end of 2016. These figures reflect the strong demand for long-term debt among UEMOA states in their endeavours to finance their budget deficits. Moreover, government…
Côte d’Ivoire has invested heavily in its hydropower industry since gaining independence in 1960, rolling out a raft of facilities between 1959 and 1983, namely the Ayamé 1 (20 MW), Ayamé 2 (30 MW), Kossou (174 MW), Taabo (210 MW), Buyo (165 MW) and Faye (5 MW) hydroelectricity plants. In recent years the country has placed an increased emphasis on hydropower plants, in part due to its…
On average, Côte d’Ivoire produces 40% of the total global cocoa crop each year, and the industry employs roughly 800,000 mostly small-scale farmers, making it an essential source of income for the national economy. Besides supporting the livelihood of populations in rural areas across the country, cocoa production is also a critical contributor to state finances through taxes and export…
Plans are under way to expand production capacity at three of Côte d’Ivoire’s thermal power plants operated by independent power producers (IPPs) Ciprel, Azito and Aggreko, against a backdrop of rising demand. In January 2018 Thierry Tanoh, the minister for oil, energy and renewable energy development, announced that work on the new units at Ciprel and Azito’s combined-cycle gas turbine…
With electricity demand climbing at an average rate of 12% per year, Côte d’Ivoire is embarking on a plan to strengthen its generation capabilities. The plans call an increasing part of the power mix to be generated from renewable sources. Renewable energy has become a key component for these efforts and a strategic shift from the nation’s largely thermal generation capacity. The goal…
