A heavyweight within the West African Economic and Monetary Union, accounting for 35% of the eight-member region’s GDP, Côte d’Ivoire’s growth is a bellwether for Francophone West Africa. An ambitious government spending programme and a range of pro-business reforms are set to boost economic activity going forward.
The IMF forecasts over 7.5% average growth through to 2017, but attracting private investment both to large infrastructure developments and lower-profile industrial projects will be key to ensuring social stability. Despite regional competition from Senegal and Ghana in terms of investment attractiveness, Côte d’Ivoire is likely to regain its place as an economic centre if it can successfully revise its hard and soft infrastructure. Although progress has been made, the possibility of political unrest remains, prompting concerns over the presidential elections set for October 2015. The preservation of peace and economic recovery will depend on the outcome of the elections and the ability of the new government to continue the reconciliation agenda.
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