It plays a crucial role in transit trade for neighboring landlocked countries like Burkina Faso and Mali. The country experiences an equatorial and tropical climate with an average temperature of 30 degrees Celsius, fueling the rainfall and sunlight requirements of the agricultural sector.
Côte d’Ivoire, a west African country with a land area of 3,22,500 km² has the second highest economic growth in Africa and fourth highest in the entire world.
Côte d’Ivoire’s economic resilience is proven through the positive GDP growth in 2021, despite the daunting effects of Covid-19 pandemic elsewhere in the world. The combined effect of increasing domestic demand and continued investment from international investors has added a lot of weight to the country’s potential to solidify its value chain and reduce its export dependence. Despite the high demand, the food prices remain relatively high due to low processing rate, which opens massive opportunities for new players to enter the market.
The region enjoys a highly modern communication infrastructure, harbor infrastructure, airports, roads, and railroads, making it a strategic hotspot for logistics and other manufacturing sectors. The country enjoys the fourth fastest growing Infrastructure Development Index in Africa, with close to a population of 120 million accessible through the Port of Abidjan. Côte d’Ivoire also benefits from the high rate of electrification as almost 94% of the urban population has access to electricity.
Côte d’Ivoire’s youth population is at an all-time high with almost 60% of the population being less than 25. The percentage of population over 65 years stands at a meagre three percent, opening a window of opportunity for a variety of businesses. The 100.32% universal primary enrollment rate bears testimony to the economy’s target led initiatives. The population rate, in the past decade, has grown tremendously adding to the urbanization trend and creating an overall high domestic demand for middle-class consumer goods and services.
Political environment and security
Côte d’Ivoire is a Democratic Republic with a stable political environment. The region boasts a relatively stable inflation rate, while showcasing steady improvement in the business climate. Security sector reforms are continuously being implemented and are evolving to boost public confidence. The political willingness to improve foreign trade ties and implement structural reforms has helped the country invite investor interest from promising sectors worldwide.
Neighbor relations and foreign trade
The Ivorian authorities have, time and again, proved their inclination to provide competitive edge to businesses operating inside the country. The region enjoys the 2nd Highest FDI to GDP ratio in West Africa. Whether it is participating and reaping the benefits of regional blocks like the West African and Monetary Union (WAEMU) and the Economic Community of West African States (ECOWAS), or building solid bilateral agreements with emerging trade markets, Côte d’Ivoire has been consistently emerging as a trade hotspot.