After 15 years of steady growth, Côte d’Ivoire is banking on the rise of homegrown economic powerhouses to propel its development ambitions through 2030. These privately owned ‘national champions’ are seen as key drivers of progress, fostering innovation and creating opportunities across the country’s burgeoning business landscape.
cosmetics, fintech and energy: success stories from yopougon
In the heart of Yopougon’s industrial zone, just outside Abidjan, workers package thousands of bottles of natural shea butter cosmetics daily. Among them is Fodé Yattabaré, founder of Kaera, a company that began in a small apartment in the late 2000s. Today, Kaera employs 600 people and exports its beauty products to over thirty countries, including West Africa, Paris and Dubai. ‘The environment here fosters entrepreneurship,’ Yattabaré explains. ‘It gives us confidence in the future, and now we’re eyeing the European market.’
Nearby, Djamo, a fintech startup launched in 2020, is redefining banking by blending traditional services with mobile payments. Its user-friendly approach has already attracted two million customers, many of whom were previously unbanked. ‘Côte d’Ivoire’s stability and strong infrastructure make it easier to attract investment,’ says Régis Bamba, Djamo’s co-founder. ‘Investors feel secure here, which helps us raise funds more easily.’
Another standout is Pétro Ivoire, a fuel distributor that has grown from modest beginnings to become a major player in the energy sector. Sébastien Kadio Morokro, its CEO, emphasizes the responsibility that comes with being a national champion: ‘We have a duty to set an example, to train, create value and reinvest in the economy.’
a strategic push for pmes and innovation
The Ivorian government is actively nurturing this ecosystem, with plans to cultivate ‘several hundred national champions’ in the coming years. ‘To become a champion, a business must start small, be nurtured and receive support,’ notes Souleymane Diarrassouba, Minister of Planning. ‘That’s why we’re focusing on policies that empower SMEs.’
The strategy is already yielding results. In early July, Côte d’Ivoire secured 80 billion dollars in public international financing for its 2026-2030 National Development Plan—four times the expected amount. Private sector investments are also pouring in, with expectations of nearly 150 billion dollars in additional funding.
‘This is the final phase of our plan to transition Côte d’Ivoire into a middle-income country by 2030,’ says economist Blaise Makaye of Bouaké University. ‘We aim to achieve a gross annual income per capita of over 4,000 dollars, up from the current 2,700 dollars.’
digital transformation and regional integration
Entrepreneurs are calling for accelerated digitalization to streamline business operations, especially given the country’s bureaucratic hurdles and challenges with corruption. ‘Digitalizing administration not only broadens the tax base but also boosts revenue for development projects,’ Makaye points out. Recent oil and gas discoveries are expected to provide an additional boost to the economy.
Another priority is the implementation of the African Continental Free Trade Area (AfCFTA), which could unlock a market of nearly 1.5 billion consumers. ‘The biggest obstacle is the lack of harmonized regulations across African countries,’ says Yattabaré. ‘AfCFTA could change that, making trade easier and unlocking more business opportunities.’ Bamba adds, ‘More free trade means more business, more ease and more value creation.’
Despite an overwhelming informal sector—nearly 90% of jobs—the country’s macroeconomic indicators remain strong. Fitch’s upgrade of Côte d’Ivoire’s sovereign rating to BB in December reflects growing investor confidence. With these foundations in place, the nation is poised to turn its economic vision into reality.
