Ivory Coast

Côte D\'Ivoire is bordered by Burkina Faso, Ghana, Guinea, Liberia and Mali with 515km of North Atlantic coastline and a land mass of 322,463km2. It has close political and economic ties with its West African neighbours, and it maintains close ties to the West, particularly France. The capital is Yamoussoukro, while the commercial and administrative centre is Abidjan, the largest city.\r\n\r\nGDP was US$78.79bn in 2023 according to World Bank data, and it has a population of 30.9 million which includes the largest French-speaking population on the continent.\r\nGDP is projected to grow 7.2% in 2023 and 7.0% in 2024 as the reforms and investments in the National Development Plan (NDP) 2021–2025 accelerate and production starts at the Baleine gas and oil field discovered in 2021–22. Growth could be fuelled by several sectors (energy, construction, mining, agribusiness, trade, telecommunications, and agriculture), as well as investment and consumption. Inflation is projected to fall to 3.7% in 2023 and 2.7% in 2024 due to increased local food supplies and the continued fight against the high cost of living. \r\n\r\nIt is the world\'s leading cocoa and cashew producer and is richly endowed with natural resources including petroleum and natural gas. In 2021, the country returned to its high-growth trajectory, and it continues to play a central role as a regional economic hub and host country for many nationals from the Economic Community of West African States (ECOWAS) and elsewhere.\r\nAustralian Stock Exchange listed Firering Strategic Minerals (FSM) has announced it will soon start with an 11 000 m Auger drilling programme, which will be followed by reverse circulation drilling, at the Atex lithium project, in Côte d\'Ivoire which is expected to be a significant boost for the economy\r\n\r\nThe country has enjoyed political and social stability since legislative elections were held in 2021. There has been a commitment to a national reconciliation process following dialogue between the government, political parties and civil society.\r\n\r\nSince January 2020, Côte D\'Ivoire has secured financing for its gas-to-power projects, Azito and Atinkou. Azito is a 460MW gas-to-power station, owned and operated by Globeleq, which uses natural gas supplied from Côte D\'Ivoire\' offshore gas fields. The plant\'s capacity is being expanded by 253MW, which will see it generate about 30% of the country\'s installed power generation capacity. The expansion project\'s debt financing of €264m is provided by financial institutions such as the International Finance Corporation, the African Development Bank, the West African Development Bank, the OPEC Fund for International Development and European Development Finance Institutions.\r\n\r\nTwo-thirds of the population are employed in the agricultural sector, which represents 25% of GDP and 70% of export earnings. This primary sector is composed of food crops (12% of GDP), export crops (11%), and animal husbandry and peaches (2%).\r\n

Sources: Who Owns Whom sector reports, CIA Factbook, African Development Bank, World Bank, Trading Economics, African Statistical Yearbook and IMF.