Mar 21, 2025 (Daba Finance/All Africa Global Media via COMTEX) --
TLDR
Ivory Coast is experiencing one of Africa's strongest economic recoveries, with annual GDP growth averaging 7% from 2012 to 2023 outh unemployment stands at 5%, and GDP per capita reached $2,900 in 2024--the highest in West Africa after Cape Verde Political tensions are growing as Ouattara--now 83--may seek a controversial fourth term in elections later this year
Ivory Coast is experiencing one of Africa's strongest economic recoveries, with annual GDP growth averaging 7% from 2012 to 2023 and projected at 6.5% in 2024 and 2025, according to the IMF. Inflation remains relatively low at 3.8%, compared to a 21.6% West African average. Youth unemployment stands at 5%, and GDP per capita reached $2,900 in 2024--the highest in West Africa after Cape Verde.
The growth is driven by diversification beyond cocoa, with services and industry now accounting for over 75% of GDP. Private investment is rising steadily, backed by tax incentives and infrastructure development under President Alassane Ouattara, a former IMF official. Electricity access expanded from 34% in 2013 to over 90% in 2024, and a $10 billion offshore oil and gas project by Italy's Eni is expected to raise oil output to 200,000 barrels a day by 2027.
However, the economy faces risks. A weak education system limits skilled labor, and oil-led growth raises sustainability concerns. Most significantly, political tensions are growing as Ouattara--now 83--may seek a controversial fourth term in elections later this year, amid opposition challenges and memories of past conflict.
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Key Takeaways
Ivory Coast's economic turnaround has positioned it as a rare bright spot in a region grappling with inflation, stagnation, and insecurity. The combination of macroeconomic discipline, infrastructure development, and rising foreign investment has created a strong foundation for continued growth. Yet the country's progress remains vulnerable to political risks. As the 2025 elections approach, stability and leadership transition will be critical to sustaining investor confidence and protecting gains made over the past decade. For now, Cote d'Ivoire is proving that structural reform and strategic investment can drive inclusive growth--but that progress must be matched by political maturity.
COMTEX_463819619/2029/2025-03-21T11:33:51
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