The Côte d’Ivoire has set its sights on nurturing homegrown economic powerhouses to sustain its robust growth trajectory after 15 years of expansion. These locally rooted champions are expected to become key drivers of the nation’s 2030 development blueprint, transforming sectors from cosmetics to digital banking.
beauty from karité to global shelves
In the heart of Yopougon’s industrial zone, just outside Abidjan, workers package thousands of bottles of natural cosmetics made from shea butter. Fodé Yattabaré, founder of Kaera, recalls launching his venture in a small apartment in the late 2000s. Today, his company employs 600 people and distributes its skincare products across West Africa and as far as Paris and Dubai—reaching over 30 countries.
“The ecosystem here is perfectly suited for entrepreneurs like us,” Yattabaré says. “It fuels our confidence in the future.” With ambitions now set on conquering the European market, he credits the country’s stability and supportive infrastructure for enabling such rapid growth.
digital banking that transforms lives
Djamo, a fintech startup launched in 2020, bridges the gap between traditional banking and mobile money. Its intuitive platform has already attracted two million users, many of whom were previously unbanked. Co-founder Régis Bamba highlights the role of Côte d’Ivoire’s political stability in attracting investment: “Investors feel secure here. The country’s stability, strong infrastructure, and safety make fundraising far easier.”
Like Kaera and Pétro Ivoire, Djamo is among the rising champions nationaux—private enterprises poised to lead the country’s economic transformation while empowering small and medium-sized businesses (SMEs).
fueling the nation’s rise
Sébastien Kadio Morokro, CEO of Pétro Ivoire, emphasizes the responsibility that comes with this newfound status: “We must set an example. The state’s role is to make the initial massive investments, creating national champions that train, educate, and generate value, which can then be reinvested.”
Minister of Planning Souleymane Diarrassouba confirms the government’s commitment: “Côte d’Ivoire is implementing policies to support SMEs. To become a champion, a business must first be nurtured in an incubator, mentored, and guided.” The goal? To cultivate “hundreds of national champions” in the coming years.
a vote of confidence from global investors
International backing reflects the country’s growing appeal. In early July, Côte d’Ivoire secured $80 billion in public financing—four times the initial target—for its 2026-2030 National Development Plan. Private sector commitments are expected to add nearly $150 billion more.
Economist Blaise Makaye of Bouaké University sees this as the final phase of the strategy to transition Côte d’Ivoire into a middle-income nation by 2030, targeting an annual gross income per capita of over $4,000 (up from $2,700 currently).
overcoming hurdles on the path forward
Despite a still-dominant informal sector—accounting for nearly 90% of jobs—the country’s macroeconomic indicators remain strong. December’s sovereign credit rating upgrade by Fitch to BB further bolsters confidence.
Entrepreneurs, however, stress the need for deeper digital transformation to streamline operations. Bureaucracy and corruption remain persistent challenges, and Côte d’Ivoire remains on the Financial Action Task Force’s (FATF) greylist for money laundering.
“Digitalizing administration widens the tax base and boosts revenues for development,” Makaye notes, adding that recent oil and gas discoveries are poised to provide an additional boost.
Another priority is accelerating the implementation of the African Continental Free Trade Area (AfCFTA), which could unlock a market of 1.5 billion consumers. “Different regulations across African countries remain the biggest obstacle,” Yattabaré points out. “The AfCFTA could bring much-needed harmonization.”
Régis Bamba agrees: “More free trade means more business, fewer barriers, and unlocked value.”