In 2021 the global economy was marked by an exacerbation of market supply difficulties, in line with the persistent impact of the Covid-19 pandemic. In this context, crude oil prices on international markets jumped by 49.8% in one year in US dollar terms. Over the same period, agricultural producer prices increased by 17.6% compared to 2020. For the main commodities exported by UEMOA countries, prices…
Côte d’Ivoire’s importance as a regional centre for the insurance sector is growing, as an increasing number of pan-African players open offices and branches in Abidjan. The country has been a catalyst for the integration of public and private insurance stakeholders in the 14 member countries of the Inter-African Conference on Insurance Markets (Conférence Interafricaine des Marchés d’Assurances,…
A number of sub-Saharan African countries have sought to introduce taxes on mobile transactions, in response to the sustained uptake prompted by the Covid-19 pandemic. While such moves have been met with criticism, they represent an opportunity to boost tax revenue significantly. The Covid-19 pandemic and its knock-on effects gave rise to a sharp increase in electronic payments across the African continent…
The availability and affordability of financial services such as payments, savings, credit and insurance are central to financial inclusion. Rural populations, women and low-income groups in Côte d’Ivoire have historically had less access to financial services, which has impeded growth and economic activity. The comparatively high cost of traditional banking products has also been a contributor…
Amid record levels of cryptocurrency crime, many emerging markets are looking at ways to strengthen their cryptocurrency-related protections. The incidence of cryptocurrency-linked crime is increasing as the uptake of the payment medium rises rapidly and broadly. A record $14bn in digital currencies was transferred to illegal addresses in 2021, according to blockchain data platform Chainalysis, up…
In September 2021 Côte d’Ivoire announced the country’s first large-scale oil and gas discovery in two decades. The discovery was made by Italy’s Eni in Block CI-101 on the Baleine prospect, some 60 km off the coast on the Gulf of Guinea. According to initial estimates, the discovery is thought to total 1.5bn-2bn barrels of oil and 1.8trn-2.4trn cu feet of natural gas. This would significantly…
As mining investment continues to increase across the region, many West African countries have introduced regulations to ensure that mining operators take into account the needs of local communities and the potential impact on the environment. The UEMOA community mining code was adopted in 2003 with the aim of protecting these interests. In 2014 Côte d’Ivoire introduced its own mining code to ensure…
Emerging markets are exploring opportunities to help meet the EU’s energy demand following the bloc’s announcement to ban seaborne imports of oil from Russia. The move, announced in May 2022 and set to be implemented by the end of the year, forms part of the sanctions crafted in response to Russia’s invasion of Ukraine in February 2022. Roughly 90% of the EU’s oil imports from Russia arrive…
In the countryside some 50 km outside Abidjan, a coffee-roasting plant is using the latest digital technology to produce subtle variations on a new theme: Arabusta coffee beans from the Man region. Adjusting the roast scientifically while introducing other flavours and aromas, the coffee produced by Augur Industries is a combination of high-tech industry and traditional agriculture, and represents…
In light of the Covid-19 pandemic, supply chain disruptions and broader environmental concerns, many countries are looking to improve the efficiency of agriculture and reduce its carbon footprint. The drive for sustainable agriculture gained impetus in 2022 following Russia’s invasion of Ukraine, which curtailed exports of maize, wheat and cooking oil from key producers – raising broader concerns…
