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Industry has quickly become a critical component of the Ivorian economy. This is due, in large part, to an abundance of highly sought-after natural resources. Despite insufficient levels of investment in previous years, Côte d’Ivoire is slowly trying to reclaim its former position as West Africa’s manufacturing centre. Indeed, the sector’s profile is being raised by the creation of new industrial zones and the renovation of existing ones. With several of the world’s mining operators increasing their commitment to West Africa, Côte d’Ivoire remains one of the least explored countries in the region. Mining activity is set to increase in the coming years; however, further investor confidence will depend on the ongoing implementation and validation of the new mining code over the medium term. Easing operating costs by improving infrastructure and logistics performance, as well as reducing electricity prices, which can account for 27% of production costs for mining companies in Côte d’Ivoire, should galvanise further investment. This chapter contains an interview with Mark Bristow, CEO, Randgold Resources.

The insurance sector has enjoyed a dynamic half-decade. Strong and sustained economic growth since 2012 has made the industry increasingly attractive, prompting the arrival of multiple new competitors aiming to establish a foothold in West Africa’s biggest insurance market. From its low base, insurance penetration should continue to increase, thereby encouraging overall expansion. With stricter regional insurance rules forcing insurers to strengthen their financial positions, non-compliance by providers should be reduced, easing efforts to expand insurance penetration to new pockets of the population. This chapter contains an interview with Roger Eugène Boa Johnson, President, Association of Insurance Companies of Côte d’Ivoire.

In September 2018 the Bourse Régionale des Valeurs Mobilières (BRVM), which is headquartered in Abidjan, will celebrate its first 20 years in operation. The past decade has seen a significant increase in the volume of listings, liquidity, valuations and the number of market participants. A long-awaited third compartment of the equity market was launched in the final month of 2017, while the BRVM plans to extend the breadth and depth of the market over the medium term. Initial public offerings have been a key driver of the rise in capitalisation on the BRVM equity market, with the exchange having a standout year in 2016, when four firms listed, raising a combined €129m in capital. The following year saw the flotation of two banks, which raised around €201m in total. This chapter contains interviews with Edoh Kossi Aménounvé, Managing Director, Bourse Régionale des Valeurs Mobilières (BRVM); and Kadi Fadika-Coulibaly, Managing Partner, Hudson & Cie.

Supported by strong economic growth, the banking industry has expanded rapidly in recent years, financing public and private sector investment in reconstruction since 2011. Profitability among the top-tier banks remains strong, with shareholders in publicly listed institutions benefitting from attractive dividends. Although there has been an influx of new banks over the past decade, increased regulation is expected to weigh heaviest on smaller banks, potentially encouraging mergers and acquisitions, notably by new foreign players. Meanwhile, the proliferation of mobile money has allowed a larger proportion of the population to gain access to financial services, with only 16% of adults in possession of a bank account. This chapter contains interviews with Tiémoko Meyliet Koné, Governor, La Banque Centrale des Etats de l’Afrique de l’Ouest; and Janine Kacou Diagou, Managing Director, Group NSIA.

Having missed out on much of the developing and emerging markets boom that characterised the global economy during 2000-10 due to its domestic political crisis, a more recent period of out-performance has allowed Côte d’Ivoire to bounce back, making it one of the fastest growing economies in the world with a bright medium-term outlook. Strong investment, particularly in infrastructure, has been an important driver of this. According to the IMF, investment as a share of GDP is expected to increase steadily from the 18.2% achieved in 2015 to 20.1% in 2018, before reaching 21.9% by 2020. This should be bolstered by recent efforts to root out corruption and cement rules of law, which have seen improvements in the judicial system and are helping the country move closer to emerging market status. Achieving the latter is the primary goal of the National Development Plan 2016-20. This chapter contains interviews with Prime Minister Amadou Gon Coulibaly, Minister of Budget and State Portfolio; Akinwumi Adesina, President, African Development Bank; Emmanuel Essis, Director-General, Investment Promotion Agency of Côte d’Ivoire; and Jean-Marie Ackah, President, General Confederation of Businesses of Côte d’Ivoire.