July - September 2016 •
The Lion King
• 29
Basilica of Our Lady of Peace, Yamoussoukro.
The largest basilica in the world.
The giant basilica, built between 1985 and
1989, was financed by the first president of
Côte d’Ivoire, Félix Houphouët-Boigny, and is
estimated to have cost about 200 million USD
to build.
CÔTE D’IVOIRE |
COUNTRY FOCUS
O
fficially known as the Republic
of Côte d'Ivoire, the French
speaking West African coun-
try is known in English as Ivory Coast.
Popular for its large cocoa and cof-
fee production, Cote d'Ivoire has two
official capitals: Yamoussoukro, the
administrative and political capital
which is also the fourth largest city in
the country, and Abidjan which is the
economic capital.
The country has a very rich cultural
heritage. Prior to its colonization by
Europeans, Ivory Coast was home to
several states, including Gyaaman,
the Kong Empire, and Baoulé.
Cote d’Ivoire became a colony of
France in 1893 and gained her inde-
pendence on August 7, 1960. Her
political regime is a multiparty presi-
dential system with a Prime Minister.
The President of the Republic is elect-
ed by universal suffrage for a term of 5
years, renewable once.
Cote d’Ivoire has 12 districts, 2
autonomous districts (Abidjan &
Yamoussoukro), 30 regions, 92 admin-
istrative centres of departments, 510
sub-prefectures, 197 towns and 800
villages. With a population estimat-
ed at 24 million, the country’s main
cities are: Abidjan, Bouaké, Daloa,
Gagnoa, Korhogo, Man. Though
French is the official language, Dioula
and Baoule are both predominantly
spoken among the 60 tribes that com-
prise Cote d’Ivoire.
The currency is CFA Franc also known
as XOF while the country’s key resourc-
es include Cocoa, coffee, yams,
bananas, palm oil, cotton, wood, oil,
gas, diamonds, gold, nickel, tourism
among others.
ECONOMY
Economic growth in Cote d’Ivoire has
averaged 9.00% since 2012, reaching
10.30% in 2015 driven mainly by three
factors: public and private investment,
consumption and exports.
Inflation averaged 1.20% in 2015 com-
pared to 0.40% in 2014, well below the
convergence criteria of 3.00% set by
the WAEMU (West African Economic
and Monetary Union).
Due to these strong macroeconomic
indicators, the Nielsen institute has
even placed Cote d’Ivoire at the
top of the list of countries to invest in,
in Africa, ahead of Nigeria, Kenya,
Tanzania and South Africa.
Agriculture contributes 25% of the GDP
but employs about 70% of the active
population and remains a strong driv-
er of the economy.
With 25 banks, and a market share of
28% (2014), the Ivorian financial sector
is the largest in the WAEMU zone. Four
years after the end of the political
crisis, banks are now taking full advan-
tage of the economic potential of the
country.
Photo: Jbdodane / Flickr.com
Photo: BBC World Service / Flickr.com
