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As a reflection of Côte d’Ivoire’s ongoing commitment to improving its business environment and making the nation an attractive investment destination, the World Economic Forum’s Global Competitiveness Index for 2014 – 2015 has ranked Côte d’Ivoire 115th this year, a significant improvement over our ranking of 126th last year. We are now ahead of many other African nations, such as Nigeria, Mozambique, Angola and Tanzania, and are continuing to work hard on improvements in processes and procedures that will move us towards our objective of being an Emerging Market Country by 2020.
Ryan Otto, Managing Director of South Africa’s Megatron Federal, and an Executive Director of Ellies Holdings, met with Côte d’Ivoire’s Prime Minister, Daniel Kablan Duncan, in Abidjan last week. During their visit, Megatron Federal signed a Memorandum of Understanding with the Ministry of Energy to develop hydroelectric projects in Missiliou and Marabadiassa, Côte d’Ivoire.
Côte d’Ivoire’s creative scene is blossoming with a new crop of ambitious, young animators.
The Prime Minister of Côte d’Ivoire, His Excellency, Daniel Kablan Duncan, the Minister of Agriculture, Mr. Mamadou Sangafowa Coulibaly, and Organisation des Producteurs Exportateurs de Bananes, d’Ananas, de Mangues et d’Autre Fruits d’Exportation de Côte d’Ivoire (OBAM-CI, Organisation of Producers and Exporters of Bananas, Pineapples, Mangoes, and Other Export Fruit in Côte d’Ivoire) have launched an ambitious project to cultivate dessert bananas for export in the Bandama region of northern Côte d’Ivoire. This project, involving 500 hectares of land along the Bandama River, in and around the village of Nabedjakaha, seeks to transform northern Côte d’Ivoire into a significant producer of dessert bananas for export.
The pilot phase of the Bandama banana project, involving 50 hectares of land cultivated by OBAM-CI, through its principal member, owner and operator, La Société de Culture Bananière (SCB, Society for Banana Culture) has demonstrated that this region of northern Côte d’Ivoire can produce abundant, export-quality bananas. The project promises to re-invigorate this rural region’s economy by creating sustainable livelihoods for its inhabitants.
When complete, OBAM-CI expects the Bandama banana project to involve a total investment of US$98 million and create permanent employment for 700 rural people. The economic growth and development created by the Bandama banana cultivation project is expected to have a positive impact on the livelihoods of an additional 4,000 people in surrounding rural communities.
The Bandama banana project will ultimately involve 500 hectares of banana plantations and is expected to produce 21,000 tonnes of dessert bananas by 2019. It will be accompanied by social projects providing schools, clinics, and housing for local communities.
Côte d’Ivoire’s Banana Industry
Côte d’Ivoire, already Africa’s largest banana exporter, shipped 339,000 tonnes of bananas in 2012. However, the nation aims to significantly increase its exports of bananas and tropical fruit over the coming years as part of an ambitious export diversification strategy.
This strategy is already producing tangible results, with a 6% increase in banana production in 2012 alone. Today, 75% of Côte d’Ivoire’s bananas are ISO4001 certified, according to the European Union, which is supporting Côte d’Ivoire’s ambition to achieve 100% certification by 2019 and use banana production to help alleviate rural poverty.
This Friday, February 28, 2014, KPMG will host a dialogue on business and investment opportunities in Côte d’Ivoire at its offices in Park Town, Johannesburg, South Africa.
With growth of 9.8% in 2012, and 8.7% in 2013, Côte d’Ivoire is becoming an increasingly attractive investment destination and base for multinationals in West Africa. If you are in Johannesburg this Friday and would like to learn more about doing business in Côte d’Ivoire, you won’t want to miss this opportunity.
For further details and registration information, please see KPMG Africa’s Blog.
Côte d’Ivoire has a centuries-long history of extending its warm welcome to visitors from across the globe. Expect to be pleasantly surprised by a cuisine that is as diverse as it is tasty, and a nation with a wide variety of vacation experiences to choose from. You may wish to explore historical sites or enjoy the rich cultural traditions for which Côte d’Ivoire is famous. However, you will be equally delighted to discover miles of white sand beaches, virgin mangrove forests, and lush mountains. Why not plan your next holiday in beautiful Côte d’Ivoire?
We were delighted this week to be able to share a small part of Côte d’Ivoire’s vast cuisine with over 250 million viewers in 49 countries via Good Morning Africa. Obviously, a nation’s cuisine cannot be captured in its entirety in six eight-minute clips. However, this was a terrific way to build awareness of the many terrific flavours of Ivorian cuisine, which is as healthy and easy to prepare as it is tasty.
As the episodes air on African Magic, you can look forward to learning how to prepare dishes from across Côte d’Ivoire, including:
- Sauce Arachide au Dah avec Tô (Peanut Sauce with Greens and West African Pap)
- Carpe et Poulet Braisé à la Ivoirienne (Ivorian Grilled Fish and Chicken)
- Kedjenou de Poulet (Chicken Kedjenou)
- Sauce Gouagouassou (Mixed Sauce of Okra and Eggplant)
- Biékôsseu de Poisson (Fish Biékôsseu)
Find out more about Adrien Kouadio, a Rainforest Alliance certified cocoa farmer from Côte d’Ivoire, who has had the privilege of traveling to the UK to follow his beans on their journey from farm to supermarket!