Cote d’Ivoire has witnessed real growth averaging 8 percent for the 8 years preceding the pandemic and is expected to maintain an average real GDP growth rate of about 6.25 percent over the medium term. This is supported, in large part by three consecutive National Development Plans (NDP) 2012-2015, 2016-2020, and 2021-2025. The latest NDP is underpinned by a commitment to a strong macroeconomic framework, and includes ambitious strategies for economic transformation, poverty and inequality reduction, capital deepening, climate change, gender, and environmental preservation. The government’s focus on investment in infrastructure and social sectors as well as structural transformation of the economy by the private sector, is expected to be supported by continued policies to boost domestic revenue mobilization, and by sustaining a moderate rating of debt distress, both of which are a core focus of the country’s 2023 Fund supported economic program.
Key Indicators |
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| Population in millions, 2022 | 29 | |
| GDP per Capita, U.S. dollars, 2022 | 2445 | |
| GDP Growth, percent, 2022 | 6.7 | |
| Inflation, CPI average, change in percent, 2022 | 5.2 | |
| General Government Debt, percent of GDP, 2022 | 56.8 | |
| Source: WEO, October 2023 | ||
Agriculture
- World top cocoa producer, cashew producer, and Africa’s first rubber and second palm oil producer
- Agricultural production in key commodities (cashew and rubber) has doubled in last decade
- Only 40% of arable land is currently used, leaving room for additional expansion in agriculture for exports and food production
- Low level of industrialization/transformation in the main crops indicate opportunities for investment in processing and to build capacity of the agribusiness segment to enhance value-add potential
- Attractive incentives under the new Investment Code
- Favorable climate: a very agri-friendly soil, with temperate and tropical conditions conducive to many crops
- Regional integration momentum provides growing customer base in WAEMU for the country’s agricultural production; and growing world population to continue to make food a priority for years tocome, both in Africa and globally
Infrastructure
- Extensive road development program (total cost of US$ 6.46 billion (Euro 5.73 billion) between 2016 and 2020); includes the improvement and renovation of 3,916 km of interurban asphalt roads.
- Public Private Partnerships: 114 major transformational projects—US$ 23 billion (EUR 11.8 billion) approximately
Specific initiatives
- Expansion of Abidjan airport
- Rehabilitation and operation of the Abidjan-Ouagadougou-Kaya railway axis
- Construction and operation of the Second Container Terminal in Abidjan TC2, and the construction of a multipurpose industrial terminal
- Expansion and optimization of San Pedro portProject to provide water to Greater Abidjan area
Energy
Côte d’Ivoire intends to double its current energy capacity (from 2000 MW to 4000 MW by 2020). Opportunities exist in:
- Thermal/gas-fired plants
- Hydropower with untapped potential: for example Louga: 275 MW; Bouloumere: 150MW; Tiboto: 200 MW; Aboisso-Comoe: 150 MW; Gribopopoli: 110MW
- Renewable energy (biomass) using the country’s sizable waste from cocoa, palm oil, and cashew
- Energy Distribution Network: extension, development and maintenance of the distribution network under PPP arrangements
Mining
- Largely unexploited mining resources (gold, nickel, manganese, iron ore, bauxite, cobalt, etc.)
- Gold reserves approximately 600 tons
- 3 billion tons of iron ore deposits in Mt Gao (close to Guinea border)
- Construction of railway (cost US$1 bn) to transport minerals and unlock the mining potential
- Direct and indirect business to over 200 local SMEs
- Greater transparency in the process of awarding mining Concessions
See Full Prospectus
