TAG: Côte d'Ivoire
With resource-dependent markets recovering from the commodity price shock and the Continental Free Trade Area signed off by 44 nations just last month, Africa’s growth prospects are bright. The UN has forecast GDP to grow by 3.5% in 2018, and sentiment among business leaders is equally strong. In OBG’s Business Barometer: Africa CEO Survey – which interviewed 1000 C-suite executives in nine African markets – 84% of respondents had positive or very positive expectations about local business conditions for 2018, while 74% said that their business was likely or very likely to make a significant capital investment.
After more than a decade of political turmoil, Côte d’Ivoire has emerged as one of the world’s best-performing economies, boasting average annual GDP growth of 9.3% between 2011 and 2016, driven primarily by strong investment in sectors such as construction, energy and ICT.
Having emerged as one of the world’s best-performing economies after a decade of political turmoil, Côte d’Ivoire is continuing its efforts to propel the economy forward, with a focus on enhancing industrialisation. Of the 139 C-suite executives that participated in Oxford Business Group’s inaugural Business Barometer:
Côte d’Ivoire CEO Survey, 58% consider the measures put in place to drive industrialisation as either positive or very positive. However, while 84% of respondents are positive or very positive about local business conditions, access to credit could be improved, with 68% classifying it as difficult or very difficult.