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After a decade of under-investment, Côte d’Ivoire’s construction sector has sustained double-digit growth over the past three years as private reconstruction and public investment continue to rise sharply. Côte d’Ivoire’s property market has also grown rapidly since 2011. With private initiatives flourishing and public spending on the rise, the market is witnessing genuine developments, but much more will be needed to close a housing gap exacerbated by a decade of civil unrest. With a strong portfolio of public projects, particularly in transport infrastructure and low- to middle-income housing, the demand for construction materials is set to grow further. Substantially supported by international donors, Côte d’Ivoire has opened its doors to global construction firms and has diversified investments sources. However, further support for local SMEs is needed to sustain long-term growth, while the development of the country’s construction material manufacturing industry will be critical to controlling input prices and limiting imports. This chapter contains an interview with Charles Paradis, CEO, Bouygues Construction Concessions.

In the decades following independence in 1960, Côte d’Ivoire led West Africa in terms of transport infrastructure. Today, although several years of civil unrest have taken their toll, it still has one of the largest road networks in the region, as well as relatively competitive aviation and maritime port infrastructure. As the government pushes to attain emerging country status by 2020, the nation’s transport networks are set for a boost in public funding: out of the CFA11trn (€16.5bn) budgeted in the 2012-15 National Development Plan, the state has allocated 25.5% to projects in transport infrastructure. Côte d’Ivoire’s reinvestment in its long-neglected transport infrastructure comes just in time to keep pace with the demands of a growing population and an expanding economy. Sustaining the funding levels needed to maintain these networks will pose challenges, but strong investment from the private sector and a high level of public-private collaboration bode well for the sector. This chapter contains interviews with Dominique Lafont, CEO, Bolloré Africa Logistics; and Gervais Koffi Djondo, Chairman, Asky.

Agriculture is one of the most important drivers of growth in the Ivorian economy in terms of revenues, employment and value-added activities. Contributing 22% to GDP, the sector accounts for at least 50% of exports and provides jobs to 60-70% of the population, according to the World Bank. Fertile land and favourable weather conditions enabled the country to become one of the most successful yet diversified agricultural producers in the world, contributing the largest share of cocoa to the global market, equivalent to 40% of global output in 2013/14. Although years of civil war obstructed investment, government initiatives are facilitating the restructuring and rejuvenation of production in crops as diverse as cocoa, cashew, cotton, rice and maize. State programmes also hope to address challenges to sectoral growth such as low agricultural productivity, poor access to credit and price insecurity. The diversity and potential of Côte d’Ivoire’s agricultural activities will ensure the sector remains a key source of economic growth and employment. This chapter contains interviews with Massandjé Touré-Litsé, CEO, Coffee Cocoa Council; and Youval Rasin, CEO, DekelOil.

With the recent economic growth spurt serving as a testament to Côte d’Ivoire’s recovery, the subsequent increase in energy consumption has also highlighted gaps in provision. Under pressure to satisfy growing domestic demand and to consolidate its position as a regional energy supplier, the power segment is currently going through an ambitious expansion exercise. Meanwhile, in the upstream oil and gas segment, operators are ramping up exploration and production activity in a bid to feed the country’s predominantly gas-fired thermal power plants. Such efforts should drive generating capacity to 3000 MW by 2020, up from 1600 MW in 2014 – an ambitious target alongside equally bold objectives of doubling production of natural gas and increasing oil output five-fold to 200,000 barrels per day (bpd). As the slate of ongoing projects in the power segment demonstrates, a guaranteed market and the commitment of the government to enable returns on investment, including by sharing the financial burden, has made for an attractive investment environment. This chapter contains an interview with Izak Elyashiv, CEO, Telemenia.

Côte d’Ivoire’s industrial sector has a long and storied history as one of the most developed in the sub-region, but as with many parts of the economy, it is recovering from the adverse impact of a decade of unrest. Resolution of the political crisis in 2011, and the recovery that it sparked, has started to bring about improvements. As such, the secondary sector increased its contribution to national GDP to 30% in 2011, compared to 27% in 2010, according to figures from the Ministry of Industry and Mines. While rising global prices of natural resources such as oil and gas, which accounted for 21% of the sector in 2011, have been a key factor, an uptick in agro-industrial activity in cocoa, palm oil and rubber has led to higher output in the nation’s processing plants. Other factors were public works and energy, which accounted for 9% and 3%, respectively. While the 2012 Investment Code and the new industrial policy are steps in the right direction, there is scope for more improvement. This chapter contains interviews with Adham El Khalil, CEO, Eurofind Participation; and Clare Short, Chair of the Board, Extractive Industries Transparency Initiative.

Bolstered by the economic rebound since 2012, double-digit growth in Côte d’Ivoire’s insurance sector is attracting new entrants and product innovation. While it is the largest market of the 15-country Inter-African Conference of Insurance Markets, the sector is fragmented for its size. With large-scale public projects expected to generate strong GDP growth in 2014, the priority will be to expand the domestic market’s retention capacity, enhance the domestication of larger risks and improve business conduct to shore up underwriters’ liquidity. Meanwhile, as alternative distribution channels continue to gain traction, the life insurance segment is expected to overtake non-life. Major players and foreign investors are likely to drive consolidation to achieve the scale necessary to boost Côte d’Ivoire’s growth. This chapter contains an interview with Roger Eugène Johnson Boa, President, Association of Insurance Companies of Côte d’Ivoire.