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Our World Africa's Fastest Growing Economy #CotedivoireTheWorldfolio Our World #TheWorldfolio Monday, February 6, 2017 CÔTE D’IVOIRE This supplement to USA TODAY was produced by United World Ltd., Suite 179, 34 Buckingham Palace Road, London SW1W 0RH – Tel: +44 (0)20 7305 5678 – [email protected] – www.unitedworld-usa.com ôte d’Ivoire can also presents an opportunity comfortably for American retailers. When be described a new shopping mall, West Af- as booming. Its Africa’s fastest growing economy rica’s biggest, opened to much near-unstoppa- fanfare in Abidjan in January ble economic growth – 8.5% in Almost six years after the end of the Second Ivorian Civil War, Côte d’Ivoire last year, among the shopping C2016 – places it as one of West has witnessed a successful and peaceful transition to economic growth, center’s tenants was American Africa’s largest economies. And fast-food giant Burger King, this achievement is all the more bucking regional trends with 8.5% GDP expansion in 2016 which selected the country as notable given that it comes fol- the location for its first restau- lowing over a decade of stagna- election of President Ouattara ate more inclusive growth by “We have started a new man- place on the African continent, rant in the region. tion and conflict. which truly cemented the West smoothing the way to greater date that must mark a new de- Sébastien Kadio-Morokro, Today, political progress Two successive civil wars African country’s bid to put the investment. Tax breaks, cus- parture in the direction of state Chief Executive of local oil firm keeps on coming. In May last marred the start of the 2000s, past behind it and revive its toms duties cuts and even affairs,” President Ouattara, a Petro Ivoire, was named Africa’s year, President Ouattara set and divided the country into a war-scarred economy. compensation in the event of former IMF official himself, Young CEO of the Year, rec- up a committee of experts to rebel-held Muslim north and “Indeed, the 2015 elections social unrest have increased said to gathered media follow- ognizing the potential both of propose a new constitution. a government-held Christian were a major challenge for Côte investor confidence, while a ing his re-election. “The estab- Ivorian firms and their leaders. Its key aims, which included south. The economic destruc- d’Ivoire,” says Hamed Bakayo- focus on infrastructure devel- lishment of a new government As participants from the Ivorian setting up the position of a vice- tion the conflict brought with ko, Minister of the Interior and opment – with power distribu- will have better coherence as a private sector discussed their president, establishing a senate, it is best illustrated by the fact Security. “The country had to tion and transportation at the goal so the government can be role as a catalyst for growth and and incorporating traditional that it even drove out the Afri- show that it has turned the page forefront – lay the groundwork more efficient.” value creation in the country, leaders, was seen by many as can Development Bank (AfDB) of the crisis, that it has turned for the government’s stated aim Confidence is growing President Ouattara highlighted a solid move toward the con- in 2004 from its headquarters the page of violent elections to transform the West Africa among the business communi- that “the time has come for us solidation of constitutional in the economic capital Abi- and that it is projecting itself nation into an emerging coun- ty around Côte d’Ivoire’s pros- to industrialize, which will see principles. While the Novem- djan, where it had operated towards a more peaceful and try by 2020. Early indicators pects. The country knocked more jobs being created, and ber 2016 vote was not without since the 1960s. The Second brighter future. What do we are promising – according to Nigeria from the top spot of to accelerate the growth of the incident – opposition party Ivorian Civil War came to an intend to do to maintain this IMF data, Côte d’Ivoire was Nielsen’s Africa Prospects in- agro-industrial, textile and min- members boycotted the polls end in 2011, and under the climate? Maintain dialogue… the fastest growing economy dicator (APi) overall results in ing sectors.” – over 93% of voters elected in watchful eye of the post-war There is collaboration and ex- of the African continent and Q2 of 2016, and has since held The Ivorian Government favor of the new charter, which President Alassane Ouattara, change on all issues with the the third-fastest in the world on to its top ranking, making is keen to deepen economic the president said would “help the country began to flourish opposition. There is no dog- in 2016, and the AfDB projects it a more stable African invest- cooperation with the United end years of instability”. once more. The return to Abi- matic or fixed position. There GDP growth of 8.3% for 2017. ment destination than the larg- States, which accounted for With the peace and stabil- djan in 2014 of the premier Af- is really the idea of creating a “Côte d’Ivoire has experi- er economies of South Africa $134 million of foreign direct ity that are pre-requisites for rican financial institution was calm environment so that the enced an impressive turn- and Angola. Nielsen analysts investment in the country in economic growth now firmly a “symbol of the renaissance country can develop.” around since 2011, with eco- pointed to its favorable eco- 2014, a 14% increase from in place, the government can of the Ivorian economy after With the peaceful vote seen nomic growth averaging about nomic growth, stable inflation 2013. And while the most fruit- get to work on returning the a decade of recession and a as a big step in consolidating 9% per year. The economic climate and recent elections as ful areas of investment for U.S. country to its former status as symbol of the reconstruction peace and economic con- outlook remains strong. The providing a fertile investment businesses are in oil and gas West Africa’s regional econom- of Ivorian society,” according to fidence in the country, Côte authorities’ 2016-20 National environment. exploration and production, ic and financial powerhouse, AfDB head, Donald Kaberuka, d’Ivoire has proven itself ca- Development Plan (NDP) ap- What’s more, for interna- agricultural commodities and by spurring on the private sec- but it was the 2015 landslide re- pable of an astounding politi- propriately prioritizes inclu- tional investors, opportunities the mining industry, the coun- tor with heavy investments in cal transformation. Today, the sive and sustainable growth, also abound to develop partner- try’s expanding middle class long-neglected infrastructure. country, the world’s largest focusing on structural trans- ships with increasingly strong cocoa producer, is a rare Afri- formation and improving liv- homegrown entrepreneurs. At A UNITED WORLD SUPPLEMENT PRODUCED BY: can bright spot, and while pov- ing standards,” said Dan Ghu- the 2016 edition of the Africa Eva de la Torre, Project Director. Eric Humphery and William Kouton, erty rates remain high despite ra, the IMF’s mission chief for CEO Forum, held in Abidjan Editorial Directors. Fatima Ruiz Moreno, Regional Director. Jonathan surging export rates, President the country following a recent in March, and marking the first Meaney, Chief Editor. Ouattara has pledged to cre- mission. time that the event has taken Our World Insert is produced by United World. USA Today did not participate in its preparation and is not responsible for its content 2 Monday, February 6, 2017 Distributed by USA TODAY CÔTE D’IVOIRE Cocoa production to lead agricultural sector Côte d’Ivoires agricultural sector is key to its economy and following recent growth, international investment is now being sought to power further development griculture vast majority of sales prices has more than doubled in the country’s agricultural cultural Investment, PNIA) has become are largely fixed and provid- price to 850 francs per kilo. growth to deliver structural has pledged more than $3 a mainstay of ing a modicum of predict- “Everyone needs the cocoa reforms, which should en- billion to support the growth Côte d’Ivoire’s ability for state revenues. from Côte d’Ivoire,” says Ms. sure domestic producers can of cash crops such as cocoa, economy con- Mamadou Sangafowa Cou- Touré-Litsé, who adds that take a stake further down the rubber and palm oil, with tributing nearly a quarter libaly, Côte d’Ivoire’s Minis- the improvement in quality production line and move the injection already having Ato its GDP, but a revamped ter of Agriculture and Rural has helped the country to into finished products, thus helped create around one strategy looks set to ramp Development, says that such fight off competition from securing a greater share of million new jobs for Côte that up further over the com- reforms are helping to revi- fellow cocoa producers such the profits. d’Ivoire’s population. ing years. talize the sector and power as Ghana. “Today, three years “It’s important - and not “The PNIA should gen- The agricultural sector, wider economic growth. or so after the reforms, it is only for cocoa, but in all erate over 2.4 million jobs,” which is dominated by prod- “Everyone knows that ag- the exporters who congratu- agricultural sectors. What says Mr. Coulibaly. “Today ucts such as cocoa, coffee, riculture plays an important late Côte d’Ivoire because we have achieved by put- we are already at one mil- cashew nuts and cotton, ac- role in our country,” he ex- our bet on quality has been ting this sector on a growth lion, and the PNIA should counts for at least 50% of plains.
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