IVORY COAST PRESIDENT MEETS SME BUSINESSES

H.E. Alassane Dramane Ouattara, President of Ivory Coast and Esmel Emmanuel Essis, Minister for investments in productive meeting with Markus Jerger to coordinate European small and medium sized business interests in the Ivory Coast market.

Ivory Coast is one of the most economically successful countries in West Africa, and about 20% of its population is workers from neighboring countries Guinea, Burkina Faso and Liberia.

Since 2016, the Ivory Coast has been the fastest growing economy in Africa, with an astonishing annual growth rate of around 8%, which is much higher than the surrounding nations. Even though the country is doing well financially overall, there is extreme wealth inequality and over half of the coast remains in poverty. The growth the Ivory Coast is experiencing is due to the African Development Bank returning to the area in 2014, the building of the HKB bridge to connect the wealthy residential part of the country to the industrial districts, and large investments in the country’s energy sector.

It is projected that the rate of growth will slow slightly in the Ivory Coast, but the increase in population will still be significant and is expected to nearly double within the next 30 years or so. Current predictions believe that the growth rate will peak at 2.52% by 2020, and will slow down to 2.03% by 2050. During that time, the population is expected to grow from 26,171,750 to 51,375,178. Current projections also have the population at 33,337,306 in 2030 and 41,796,024 in 2040.