Côte d’Ivoire, Economic engine of West Africa
The Republic of Côte d'Ivoire is located in the intertropical coastal zone of West Africa. Yamoussoukro is the political capital, while Abidjan is the economic hub of the country. The country is a member of the West African Economic and Monetary Union, a customs and monetary union between eight countries in which all members use the FCFA currency.
Côte d'Ivoire is the largest economy in French-speaking West Africa and the third largest in West Africa after Nigeria and Ghana.
Agriculture is essential for the country in terms of income and employment, as the country is the world's largest producer and exporter of cocoa beans. Natural resources play a key role in the country’s economy, particularly fossil fuels and minerals. Côte d'Ivoire offers a relatively well-developed road infrastructure, the second largest port in West Africa and a modern international airport with a national airline which serves all the major capitals in the region.
The government's goal is for the development of natural resources to become the country's second economic engine.
Abidjan, the capital of Côte d'Ivoire
Country Snapshot
Stable political environment with a presidential republic and a civil law system based on the French civil code.
Dynamic economy with an annual GDP growth over 6.0% per year in 2018 and 2019, slowing down to 1.8% in 2020 due to the pandemic, rebounding to 7.0% in 2021 and 6.7% in 2022.
The mining sector has the potential to fuel this growth. Gold production has grown around 1.6 million ounces of gold in 2017 to around 2.0 million ounces of gold in 2020, with five gold mines operating in the country.
Eight gold deposit discoveries ranging 1.2 million ounces to 5.37 million ounces have been announced by various gold mining companies operating in the country in recent years.
1985 Tax Convention with Canada; 2013 FIPA (Foreign Investment Protection Agreement between the two countries).
New mining code (2014) favorable to gold exploration and resource development.