By Africa Risk Control – Côte d’Ivoire (Ivory Coast), the world’s largest cocoa producer and the backbone of global chocolate supply, is emerging as one of West Africa’s fastest-growing economies.
With a population of nearly 33 million and a Gross Domestic Product (GDP) of about US$78.9 billion in 2023, the country has been expanding at an impressive 6% growth rate — outpacing most of Africa. GDP per capita now stands at around US$2,300, supported by rapid urbanization and a youthful workforce.
While cocoa remains the country’s signature crop, producing almost 1.8 million metric tons annually, opportunities for investors extend far “beyond chocolate.” The government is actively pushing for local value-addition in cocoa processing, sustainable sourcing, and agro-industry expansion. At the same time, large-scale investments in energy — from solar and hydro to natural gas — are reshaping Côte d’Ivoire into a potential regional power exporter.
Investors are also eyeing growth in transport and logistics, as Abidjan positions itself as a regional trade hub; manufacturing and consumer goods, driven by rising incomes and demand for import substitution; and fintech and digital services, as mobile money penetration deepens across the Economic Community of West African States (ECOWAS) market.
However, opportunities come with risks: policy shifts, environmental and social challenges in the cocoa supply chain, political uncertainties, and currency fluctuations. For foreign investors, success depends on pairing ambition with serious on-the-ground due diligence and robust risk-mitigation strategies.
Read the full analysis on Africa Risk Control to explore sector-by-sector figures, key risks, and tailored mitigation strategies for foreign investors.