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After four years of high gains following the end of the political instability in Côte d’Ivoire, the Bourse Régionale des Valeurs Mobilières – headquar¬tered in the Ivorian commercial capital Abidjan – is experiencing challenges marked by a significant drop in indexes, reaching a six-year low in 2018. Increased competition for telecoms companies in Senegal and Burkina Faso, a crisis in the Ivorian banking sector and fears of political unrest do not seem to indicate a short-term recovery in prices. However, bright economic prospects for the UEMOA region and increasingly attractive price-to-earnings ratios present medium-term opportunities for investors. As the bourse’s visibility is increasing and more companies list, interest for the equity market will continue to grow. This chapter contains interviews with Felix Edoh Kossi Aménounvé, CEO, La Bourse; and Niamkey Isidore Tanoé, CEO, Atlantique Finance.

The banking sector has played a key role in financing reconstruction in Côte d’Ivoire since the end of the decade-long political and military crisis in 2011. With headline economic growth expected to hover around a robust 7% per annum over the next five years, Côte d’Ivoire’s banking sector is likely to remain attractive, with more banks attempting to penetrate the market. However, the progressive implementation from January 2018 of international prudential standards means that banks will have to boost their capital if they want to maintain their level of lending. This in turn is expected to drive consolidation in the sector in the medium term. It is hoped this will have the added benefit of improving banks’ risk management. This chapter contains interviews with Tiémoko Meyliet Koné, Governor, Central Bank of West African States; and Aymeric Villebrun, CEO, Société Générale de Banques en Côte d’Ivoire.

Although economic growth has been slowing since 2016, the outlook remains bright, with the IMF forecasting an annual expansion of at least 6.5% through to 2023. However, there are still challenges that need to be overcome. The country remains highly vulnerable to external shocks, especially the fluctuation of commodity prices. Economic expansion has been greatly supported by the state, but the government is expected to curtail public spending in the coming years to narrow its fiscal deficit, as agreed with the IMF. Despite rising investment, private sector con-tributions remain weak, meaning further efforts are needed to improve governance, tackle corruption and cement the rule of law. This chapter contains interviews with Adama Koné, Minister of Economy and Finance; Emmanuel Esmel Essis, Director, Investment Promotion Agency; Jean-Marie Ackah, President, General Confederation of Businesses of Côte d’Ivoire; and a viewpoint with Abdallah Boureima, President, UEMOA Commission.

This chapter introduces the reader to the different aspects of the legal system in Côte d’Ivoire, in partnership with Bilé-Aka, Brizoua-Bi & Associés. It also contains a viewpoint with Joachim Bilé-Aka and Michel K Brizoua-Bi, Founders, Bilé-Aka, Brizoua-Bi & Associés.

In conjunction with EY, this chapter explores the taxation system and Côte d’Ivoire’s efforts to build an investor-friendly environment. It also contains a viewpoint with Jean François Albrecht, Country Managing Partner; and Eric N’guessan, Country and Regional Tax Leader, EY.

A renewed focus on health has brought with it a number of improvements. The authorities have rehabilitated hospitals and health centres, developed technical platforms for facilities in line with international standards and improved access to services. Although main health indi¬cators have improved significantly over the years, challenges remain with regard to maternal, neonatal and infant health. The universal health care plan is set to improve provision, with commitments to boost operational infrastructure, increase the work¬force and manufacture more local generic pharma¬ceutical drugs. Education has also become a national priority. Despite a demographic boom, the implementation of compulsory schooling and increased federal spending on education testifies to the will to improve the education system. Many challenges remain, however, as educational institutions struggle to absorb a rapidly growing youth population and equip them with the skills needed in the labour market. This chapter contains an interview with Eugène Aka-Aouélé, Minister of Health.