Share

Ivory Coast to seek over $7bn from donors

Abidjan - Ivory Coast will seek to raise 4.425trn CFA francs ($7.65bn) during a meeting with donor partners next month to help fund an ambitious 5-year development programme, the government's spokesperson said on Wednesday.

The West African nation is aiming to invest a total of around 30trn CFA francs from 2016 to 2020 as part of efforts to foster economic development and reduce poverty.

Around 18trn CFA francs is expected to come from private sector investment with the government's contribution making up the remaining 11trn CFA francs.

Bruno Kone said that an advisory group headed by President Alassane Ouattara will meet in Paris on May 17 and 18.

"It will aim to mobilise the sum of 4.425bn francs for public investments planned for the period of 2016-2020," he said. "This is part expected from external partners."

Having emerged from a decade of political turmoil following the civil war in 2011, Ivory Coast, the world's top cocoa grower and French-speaking West Africa's largest economy, is increasingly turning the heads of foreign investors.

Under the stewardship of Ouattara, who won re-election in a landslide victory in October, its economy has expanded by an average of around 9% in each of the past three years.

But the former senior International Monetary Fund official is under pressure to make that growth more inclusive in his second, and final, five-year term.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.89
+0.3%
Rand - Pound
23.87
+0.1%
Rand - Euro
20.38
+0.2%
Rand - Aus dollar
12.32
+0.1%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders