Cote d’Ivoire: Soaring investments
Investment in Côte d'Ivoire is up 25% in the first half of this year on the same period in 2015, according to the Centre for Investment Promotion, which tracks in-flows into the economy in most sectors other than mining and power.
Ivory Coast, the world’s top cocoa producer, is emerging from years of political turmoil and its now fast-growing economy accounts for around 40% of the eight-nation West African CFA franc currency zone.
Investments registered by the Centre amounted to 219bn CFA francs ($370m) between January and June, up from 174.8bnCFA a year ago, the Centre’s director, Emmanuel Essis Esmel, said on Tuesday. “Ivory Coast’s attractiveness to investors is clear,” he told reporters.
Twenty-eight percent of the investments are in construction and public works, 25% in food and agriculture, 16% in transport and storage, 12% in plastics and 5% in hospitality, the centre said, adding that 30% of the investments are held by Ivorians.
The Centre hopes total investments this year will amount to 810bn CFA francs ($1.4bn) and will target international investors to do so, Esmel said.