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As the country returns to robust economic growth and its population expands, electricity demand is set to rise. At the same time, new offshore discoveries promise a brighter future for the hydrocarbons sector, while the renewables segment will be instrumental in helping Côte d’Ivoire achieve its clean energy goals and improve access in remote areas. Against this backdrop, demand for projects across the sector looks set to continue at a steady pace. Côte d’Ivoire’s mining sector is well positioned to continue its expansion, as a surge in exploration activity is taking place. As only a small fraction of the country’s mining area has been explored to date, there is significant growth potential in the years ahead. The government’s commitment to the sector bodes well for the future, while debate about updating the mining code show a receptiveness to industry and community concerns. Moving forwards, sustainability and awareness of mining’s impact on the environment will remain key priorities. This chapter includes an interview with John van Zuylen, CEO, African Solar Industry Association.

Although the country’s insurance sector is progressing each year and has a substantial direct and indirect impact on the economy and job creation, the penetration rate – measured as premium relative to GDP – remains low. The factors contributing to the low penetration rate include a lack of public awareness and education about the industry as a whole. However, new opportunities are expected to arise due to economic progress and diversification in Côte d’Ivoire and the larger Inter-African Conference on Insurance Markets area. In order to increase the level of trust in the system, insurance companies will need to reassure consumers by upholding their contractual commitments and expediting claims settlement. This chapter contains an interview with Roland Ouedraogo, General Director, Sanlam Assurance Côte d’Ivoire.

The global inflationary environment is likely to impact monetary policy both in Côte d’Ivoire and across the West Africa region. The relevant authorities are aiming to tame price increases, potentially through tighter monetary policy. A predicted rise in the cost of credit, combined with an increase in prices of raw materials and oil, could negatively impact corporate growth dynamics, and in turn, affect stock market activity. Fortunately, while the first half of 2022 saw signs of stagnation, the momentum that drove market performance in 2021 is expected to continue. In addition to prospects of new company listings and increased transactions on the Bourse Régionale des Valeurs Mobilières, the regional exchange of UEMOA, forecasts are optimistic, projecting that the exchange will close the year with a market capitalisation of $11bn. This chapter contains an interview with Tardy Kouassiblé, Deputy Managing Director, Atlantique Finance.

Côte d’Ivoire’s banking sector has played a key role in post-2012 economic recovery and growth, financing large-scale infrastructure projects, private sector industrial expansion, agricultural activity and the services industry. The banking sector has been competitive and this trend is expected to continue in the short term, with both traditional banks and non-bank players increasing their product offerings in an effort to attract customers. Against the backdrop of an enabling regulatory framework, the accelerating adoption of digital and mobile money services could see financial technology companies and non-bank financial institutions expand further into micro-loans, while traditional banks will likely continue to scale down their operational costs, particularly branch networks. This chapter contains interviews with Tiémoko Meyliet Koné, Former Governor, Central Bank of West African States; and Aymeric Villebrun, CEO, Société Générale Côte d’Ivoire.

Bahrain is now home to a rapidly evolving tax landscape, with several notable tax and reporting regulations introduced since 2017. The country is well established as a financial centre in the region, and in recent years the authorities have diversified the economy to include technology, manufacturing and logistics. Bahrain welcomes overseas investment, allowing 100% foreign ownership in many sectors. Adding to its draw, the kingdom is consistently ranked as one of the best places in the GCC for expatriates to live and work. This chapter contains a viewpoint from Mubeen Khadir, Head of Tax and Corporate Services, KPMG Bahrain.