Economy
From The Report: Cote d'Ivoire 2022
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Thanks in large part to renewed political stability, Côte d’Ivoire’s sustained high growth in the last decade ranks it among the best-performing countries in sub-Saharan Africa. The post-2012 period has been marked by ambitious public and private investment programmes, giving the economy substantial resilience. Reflecting global trends, growth was adversely affected by the Covid-19 pandemic; however, the country proved to be one of the most resilient in the region. In 2021 the World Bank and the IMF praised Côte d’Ivoire’s economic performance and pandemic resilience. The institutions noted remarkable pre-pandemic growth and a 7% rebound in GDP in 2021. Recovery efforts are expected to be sustained in 2022, with GDP growth forecast at 6%.

This chapter contains a viewpoint from Solange Amichia, Managing Director, Investment Promotion Agency of Côte d’Ivoire.

Articles from this Chapter

Overview

Back to business: Diversification and high levels of investment form the backbone of plans for sustainable growth and development
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Thanks in large part to renewed political stability, Côte d’Ivoire’s sustained high growth in the last decade ranks it among the best-performing countries in sub-Saharan Africa. Between 2012 and 2019 real GDP growth averaged around 8.5%, compared to less than 0.5% over the 2000-11 period. The post-2012 period has been marked by ambitious public and private investment programmes, giving the economy substantial resilience. The country enjoyed high global prices for its cash crops during this…

Viewpoint

Mobilising money: Solange Amichia, Managing Director, Investment Promotion Agency of Côte d’Ivoire (Centre de Promotion des Investissements en Côte d’Ivoire, CEPICI), on green financing
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Viewpoint:Solange Amichia Côte d’Ivoire made significant strides towards improving the business climate between 2011 and 2020. These efforts have contributed to economic development, resulted in the mobilisation of CFA5trn ($8.6bn) in private investment and created 58,000 jobs over that timeframe. Considering the global economic context and the disruptions resulting from the Covid-19 pandemic, Côte d’Ivoire has introduced a new strategy to reinforce its position as a centre for investment…

Analysis

Stepping stones: Building on previous strategies, the National Development Plan 2021-25 sets its sights on sustainable economic transformation
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The National Development Plan (Plan National de Développement, PND) 2012-15, the first of three in recent history, was successful in stabilising and reviving the economy in an environment of restored peace. Both in planning and implementation, the PND 2012-15 constituted the backbone of the recovery and growth of the economy, supported by the country’s development partners. This helped Côte d’Ivoire achieve a robust average growth rate of 9% over this period and the creation of 2m jobs in four…

Analysis

Cooperative ties: Increased bilateral trade with Africa aims to offset decline in state-backed investment from China
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Despite global supply chain challenges, the value of trade between China and Africa rose to record levels in 2021. The increase partially reflected a shift in China’s policy away from government-backed investment towards enhanced trade and cooperation. According to the Chinese Customs Agency, the value of the country’s trade with Africa rose by 35% to $254bn that year, driven by an increase in exports to the continent. Looking to the future, trade volume looks set to continue this expansive…

Analysis

Ease of Transfer: A number of remittance-focused start-ups and other players are expanding operations in emerging markets Ease of transfer
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Financial technology (fintech) firms are gaining market share that was formerly the preserve of established remittance service providers. Remittances have grown in importance in recent years and today constitute the largest source of foreign income for many developing economies. They also tend to be countercyclical, increasing during economic downturns or natural disasters when other capital flows generally dwindle. Growth in the segment has gathered pace, with the importance of remittances as a…