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Ivory Coast

Country Code: 384

ISO2 Code: CI

ISO3 Code: CIV

Country Economic Snapshot

2020-04-02

Ivory Coast continued to be one of the most buoyant economies in Africa in 2018 when GDP grew by 7.3% to US$43bn.

The country is the third-largest economy in West Africa, after Nigeria and Ghana, with the largest French-speaking population on the continent.

It is richly endowed with natural resources including petroleum and natural gas. Despite its growth, which the International Monetary Fund (IMF) predicted would average 7.4% between 2017 and 2020, an estimated 46% of the population still lives in poverty.

Much of the credit for this economic boom goes to Alassane Ouattara, a former economist who has been president since 2011 after a ten-year civil war. However, the approach of the October 2020 presidential election is giving rise to some uncertainty as Ouattara has not yet indicated whether he will seek a third term.

Two-thirds of the population are employed in the agricultural sector, which represents 25% of GDP and 70% of export earnings. This primary sector is composed of food crops (12% of GDP), export crops (11%), and animal husbandry and peaches (2%).

Ivory Coast is the world's largest producer of cocoa, which generated more than US$5bn in revenues in 2015, and approximately 6 million people are employed in the cocoa industry. Cocoa makes up 43% of total exports, and stakeholders aim to increase local processing from 30% to 50% by 2020. Although it is the world’s largest exporter of cashew nuts, the country processes only about 6% of production. This is expected to change with government support in the form of four agro-industrial zones in four regions and funding to support programmes to modernise the sector.

The government adopted a National Development Plan 2016- 2020 to transform the country into a middle-income economy by 2020.

Ivory Coast has an advanced power sector compared to other West African countries and the price of electricity is relatively inexpensive. Coverage is at almost 60% and the country is a regular exporter to some neighbours. Government has committed to ending the monopoly of the national electricity company, ICE.

The country is bordered by Burkina Faso, Ghana, Guinea, Liberia and Mali with 515km of North Atlantic coastline. It has close political and economic ties with its West African neighbours, and it maintains close ties to the West, particularly France. The capital is Yamoussoukro, while the commercial and administrative centre is Abidjan, the largest city. According to UN estimates, 54.2% of the 25 million population is urbanised and 20% of the 5 million residents of Abidjan are considered middle class. There are an estimated 33m cellphone subscriptions among the country’s 25 million inhabitants.

Info

Capital Yamoussoukro
Currency (Name, Abbreviation, Symbol) West African CFA franc , XOF , BCEAO
Area 322,463 sq km
Type of Government republic; multiparty presidential regime established 1960
Languages French (official), 60 native dialects of which Dioula is the most widely spoken
Natural Resources petroleum, natural gas, diamonds, manganese, iron ore, cobalt, bauxite, copper, gold, nickel, tantalum, silica sand, clay, cocoa beans, coffee, palm oil, hydropower
Type of Industry foodstuffs, beverages; wood products, oil refining, gold mining, truck and bus assembly, textiles, fertilizer, building materials, electricity
Stock Exchange Bourse Regionale des Valeurs Mobilires
Stock Exchange Location Abidjan, Cote d'Ivoire
Stock Exchange Founded 1996
Tax Rate: Corporate 25%
Tax Rate: Individual 60%
Natural Resources petroleum, natural gas, diamonds, manganese, iron ore, cobalt, bauxite, copper, gold, nickel, tantalum, silica sand, clay, cocoa beans, coffee, palm oil, hydropower

Latest available information as sourced from:

African Markets

Trading Economics

Economy Watch

The World Fact Book

KPMG Tax Tables

Company Profile

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Sector Research

CompanyName Stock Exchange Listed Date Ticker Code Country Status
Air Liquide Cote d'Ivoire S.A. Bourse Regionale des Valeurs Mobilieres 1999-04-19 SIVC Ivory Coast Active
Alios Finance Cote d'Ivoire S.A. Bourse Regionale des Valeurs Mobilieres 1998-09-16 SAFC Ivory Coast Active
Bank of Africa - Benin Bourse Regionale des Valeurs Mobilieres 2000-11-17 BOAB Ivory Coast Active
Bank of Africa - Burkina Faso Bourse Regionale des Valeurs Mobilieres 2010-12-30 BOABF Ivory Coast Active
Bank of Africa - Cote d'Ivoire Bourse Regionale des Valeurs Mobilieres 2010-04-07 BOAC Ivory Coast Active
Bank of Africa - Niger Bourse Regionale des Valeurs Mobilieres 2003-12-30 BOAN Ivory Coast Active
Bank of Africa - Senegal Bourse Regionale des Valeurs Mobilieres 2014-12-09 BOAS Ivory Coast Active
Banque Internationale pour le Commerce et l'Industrie de la Cote d'Ivoire Bourse Regionale des Valeurs Mobilieres 1998-09-16 BICICI Ivory Coast Active
Bernabe Cote d'Ivoire SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 BNBC Ivory Coast Active
Bollore Transport & Logistics Bourse Regionale des Valeurs Mobilieres SDSC Ivory Coast Active
Bollore Transport & Logistics Cote d'Ivoire (BTL CI) S.A. Bourse Regionale des Valeurs Mobilieres 1998-09-16 SDSC Ivory Coast Active
CFAO Motors Cote d'Ivoire SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 CFAC Ivory Coast Active
Compagnie Ivoirienne d'Electricite SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 CIEC Ivory Coast Active
Crown Siem SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 SEMC Ivory Coast Active
Ecobank Transnational Inc Bourse Regionale des Valeurs Mobilieres 2006-09-11 ETIT Ivory Coast Active
Filature Tissages Sacs SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 FTSC Ivory Coast Active
Movis Cote d'Ivoire Bourse Regionale des Valeurs Mobilieres 1998-09-16 SVOC Ivory Coast Active
Nestle Cote d'Ivoire SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 NTLC Ivory Coast Active
Nouvelles Editions Ivoiriennes-Centre d'Edition et de Diffusion Africaines Bourse Regionale des Valeurs Mobilieres 2000-04-14 NEIC Ivory Coast Active
Onatel-SA Bourse Regionale des Valeurs Mobilieres 2009-04-30 ONTBF Ivory Coast Active
Palmci SA Bourse Regionale des Valeurs Mobilieres 1999-10-18 PALC Ivory Coast Active
Servair Abidjan SA Bourse Regionale des Valeurs Mobilieres ABJC Ivory Coast Active
Societe Africaine de Plantations d'Heveas SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 SAPH Ivory Coast Active
Societe d'Etudes et de Travaux pour l'Afrique de l'Ouest SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 STAC Ivory Coast Active
Societe de Distribution d'Eau de la Cote d'Ivoire S.A. Bourse Regionale des Valeurs Mobilieres 1998-09-16 SDCC Ivory Coast Active
Societe de Limonaderies et Brasseries d'Afrique SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 SLBC Ivory Coast Active
Societe des Caoutchoucs de Grand-Bereby SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 SOGB Ivory Coast Active
Societe Generale de Banques en Cote d'Ivoire SA Bourse Regionale des Valeurs Mobilieres 1976-04-07 SGBCI Ivory Coast Active
Societe Ivoirienne de Cables SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 CABC Ivory Coast Active
Societe Ivoirienne De Coco Rape S.A. Bourse Regionale des Valeurs Mobilieres 1998-09-16 SICC Ivory Coast Active
Societe Ivoirienne des Tabacs S.A. Bourse Regionale des Valeurs Mobilieres 1998-09-16 STBC Ivory Coast Active
Societe Multinationale de Bitumes SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 SMBCI Ivory Coast Active
Sonatel S.A. Bourse Regionale des Valeurs Mobilieres 1998-10-02 SNTS Ivory Coast Active
Total Cote d'Ivoire S.A. Bourse Regionale des Valeurs Mobilieres 1998-09-16 TTLC Ivory Coast Active
Total Senegal S.A. Bourse Regionale des Valeurs Mobilieres 2015-02-15 TOTAL Ivory Coast Active
Tractafric Motors Cote d'Ivoire SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 TMCI Ivory Coast Active
Unilever Cote d'Ivoire SA Bourse Regionale des Valeurs Mobilieres 1998-09-16 UNLC Ivory Coast Active
Uniwax S.A. Bourse Regionale des Valeurs Mobilieres 1998-09-16 UNXC Ivory Coast Active
Vivo Energy Cote d'Ivoire S.A. Bourse Regionale des Valeurs Mobilieres 1998-09-16 SHEC Ivory Coast Active

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