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President Alassane Dramane Ouattara, on the third republic: Viewpoint
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Viewpoint: President Alassane Dramane Ouattara During the 2010 presidential campaign, I committed myself to provide Côte d’Ivoire with a new constitution, that of the third republic. However, given the post-electoral crisis, we had to face urgent matters such as the return to peace; national reconciliation and social cohesion; institutional normalisation; and the recovery of the economy. Thanks…
Viewpoint

Edouard Messou, Senior Partner; and Dominique Taty, Tax Partner; PwC: Viewpoint
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Viewpoint:Edouard Messou A department for VAT credit refunds was created back in 2006, fuelled by the 12% VAT collected by recipients from Customs and tax authorities, and deposited into an account at the Central Bank of West African States. The VAT credits are thus refunded, as funds get deposited into the account. Some corrections have been implemented to its methods, but it fully plays its…
Analysis

New financing avenues in Cote d'Ivoire open up for smaller businesses

Posted OBG AdminPosted in Uncategorized

In 2016 Jean-Louis Billon, Côte d’Ivoire’s former minister of commerce, noted that while 80% of all firms operating in the country could be categorised as small and medium-sized enterprises (SMEs), the segment was receiving just 12% of total investment. Côte d’Ivoire defines SMEs as companies with fewer than 200 employees and a turnover of under CFA1bn (€1.5m). Lack of financing is a major…
Analysis

Overview of Cote d'Ivoire's legal system and recent reforms

Posted OBG AdminPosted in Uncategorized

Côte d’Ivoire’s constitution establishes the country as a republic operating a unitary system of government, with a legislature, an executive branch and an independent judiciary. The legal system is based on the civil code tradition rather than the British system of common law, reflecting the nation’s history as a French colony. The judicial framework is made up of three parts. The first is…
Analysis

Cote d'Ivoire's government looks to spread opportunities more evenly across country

Posted OBG AdminPosted in Uncategorized

Côte d’Ivoire is prospering on the back of renewed political stability and rapid economic growth, although as is the case with many fast-growing markets, the rewards have not been evenly distributed. The government has grappled with the high concentration of economic activity in select regions, which has compounded regional inequality and led to challenges in service provision. Great progress has…
Analysis

Improved relations between Cote d'Ivoire and Ghana could be mutually beneficial

Posted OBG AdminPosted in Uncategorized

The volume of people and goods which traverse Côte d’Ivoire’s border with Ghana is significant both socially and economically. Relations between the two countries, however, have not always been straightforward. Côte d’Ivoire gained its independence from France in 1960, three years after its eastern neighbour won its independence from the UK. Their developmental paths diverged almost immediately,…
Analysis

States in Cote d'Ivoire look to local banks to help bridge funding gaps amid liquidity challenge

Posted OBG AdminPosted in Uncategorized

The market for government debt is changing across Africa, and in ways that pose risks for local banks as well as for their investors and customers. States are looking to their banks to help bridge funding gaps so they can better ride out the cycle of lower commodity prices and tepid global growth. That means it is harder to raise international funds – such as by issuing dollar-denominated eurobonds…
Analysis

Constitutional reform in Cote d'Ivoire is on the way in 2017

Posted OBG AdminPosted in Uncategorized

Côte d’Ivoire operates a presidential political system, under which the president is the head of state and holds extensive executive power. He or she appoints a prime minister, who in turn selects the Cabinet. The president is also head of the armed forces and initiates most legislation, though parliament can also do so. The head of state is entitled to appoint the seven members of the country’s…
Analysis

Fiscal and monetary discipline puts Cote d'Ivoire in good stead

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Côte d’Ivoire’s economy is clearly enjoying strong progress, with the IMF forecasting that real GDP growth will reach 8% in both 2016 and 2017. This trend is partly based on the momentum of a continued rebound effect, after several years of civil unrest came to an end in 2011, with capital still pouring into neglected infrastructure networks. However, prudent fiscal management by the government…
Analysis

Small businesses in Cote d'Ivoire should benefit from additional funding over coming months

Posted OBG AdminPosted in Uncategorized

At a forum hosted by the African Development Bank (AfDB) at its headquarters in Abidjan in November 2016, Ivorian lenders pledged to dedicate CFA1.34trn (€2bn) in financing to small and medium-sized enterprises (SMEs) in 2017. The injection of credit aims to relieve pressure on smaller companies, which have traditionally struggled to obtain funding despite forming the backbone of Côte d’Ivoire’s…