Cote d'Ivoire: Ivory Coast's Economic Boom Faces Test in 2025 Election

21 March 2025
Daba Finance (Abidjan)

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.

Daba is Africa's leading investment platform for private and public markets. Download here

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, Côte d'Ivoire is proving that structural reform and strategic investment can drive inclusive growth--but that progress must be matched by political maturity.

Read the original article on Daba Finance.

Tagged:
Copyright © 2025 Daba Finance. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 110 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.