A s many economies in Africa wrestle with the consequences of a slowdown in China and depreciating currencies, Ivory Coast has bucked the trend. The country is enjoying strong growth and focusing on infrastructure projects, job creation, and improving its business climate to win back investors after years of political paralysis.
Ivory Coast has been frozen in political stasis since rebels seized the north in , causing the effective division of the former French colony and years of tensions, culminating in a four-month civil war that killed about 3, people in early after former president Laurent Gbagbo refused to accept defeat at the ballot box.
The short-lived conflict ended when Alassane Ouattara took office after a military intervention by France. Ouattara was re-elected by a landslide last year and, despite some fears of unrest, the poll was peaceful and seemed to confirm a return to stability. Ouattara, a former official at the International Monetary Fund IMF , has spent billions of dollars rebuilding roads and railways. He added that a return to violence was simply not an option.
They went through big issues when we had the trouble in No one wants to go there again … Every Ivorian wants their kids to go to school. I used to be a trader so risk is part of my DNA. Since , the president has wanted to put a strong focus on a diversified economy. Our economy now is really diversified. Because some of that debt is in dollars, repayment costs are rising — a problem experienced by several African countries.
Another priority is creating productive jobs for young people. In a report last December , the World Bank warned robust growth was not leading to a significant decline in the poverty rate or higher incomes for people living below the poverty line.
