Prior to the global shock triggered by the coronavirus pandemic, Côte d’Ivoire still had one of the most robust growth rates in Africa and in the world. The economy, which had grown at an average annual rate of 8% since 2012, had been projected to grow by 7% in 2020.
The Politics of Côte d’Ivoire takes place in a framework of a presidential representative democratic republic, whereby the President is both head of state and head of government, and of a multi-party system. Executive power is exercised by the President and the Government. Legislative power is vested in both the government and parliament.
Côte d’Ivoire has significant mineral deposits and has a number of large mining companies operating in the country such as Barrick Gold Corporation. The country has Gold and Nickel deposits that have appreciable amounts of Cobalt. The country also has Manganese Bauxite, and Copper deposits, associated Platinum Group Metals, Lithium and Coltan. In addition Côte d’Ivoire has modest offshore oil and gas reserves.
Mining in Côte d’Ivoire
A new mining code introduced in 2014 with the aim of making the country more amenable for exploration and mining, has reaped rewards. The result is a growing list of junior miners and established mining companies have started to invest and develop Côte d’Ivoire's natural resources.
Mining licences are awarded on a ‘first come first served’ basis, while oil and gas licenses are awarded either on a discretionary basis or through competitive tender.
The three main taxes and fees imposed on companies operating in the mining sector include royalties, salary withholding tax and industrial and commercial profits tax.
Route to market
Côte d’Ivoire has one of the best port facilities in West Africa, Abidjan and great strides are being made to improve road infrastructure. With a government keen to increase mining’s contribution to the gross national product, Côte d’Ivoire’s reputation as a world-class mining destination is gaining significant traction.