Doing business in Côte d’Ivoire : Côte d’Ivoire trade and export guide
Updated 1 March 2016
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1. More information
Managing risk
Find out how UK companies can control risks when doing business in Cote d’Ivoire.
Export opportunities and advice
Find more export advice and explore opportunities overseas on great.gov.uk.
2. Côte d’Ivoire export overview
Côte d’Ivoire (also known as the Ivory Coast) is one of the largest economies of the Economic Community of West Africa States (ECOWAS). It represents around 40% of the West African Economic and Monetary Union (WAEMU) Gross Domestic Product (GDP).
Contact a (Department for International Trade DIT) Côte d’Ivoire export adviser for a free consultation if you are interested in exporting to Côte d’Ivoire.
Contact UK Export Finance (UKEF) about trade finance and insurance cover for UK companies. You can also check the current UKEF cover position for Cote d’Ivoire.
The African Development Bank (AfDB) and many Francophone (French speaking) west African operations have their headquarters in the economic and administrative capital of Abidjan.
Many well-known UK companies operate in Côte d’Ivoire such as Aggreko, Amara Mining, Crown Agents, Diageo, G4S, GlaxoSmithKline, Jaguar Land Rover, Price Waterhouse Cooper, Randgold, Regus, Rolls Royce Marine, Standard Chartered Bank and Unilever.
Benefits for UK businesses exporting to Côte d’Ivoire include:
- a business and transportation hub for west Africa
- infrastructure network is superior to most other west African countries
- significant mining potential
3. Challenges doing business in Côte d’Ivoire
There are some unique challenges for doing business in Côte d’Ivoire. These include:
- low infrastructure development
- shortage of skilled workers
- insufficient and unreliable market data
- limited use of English language
- uncertainty of legal protection due to an inefficient court system
- high corruption (ranks poorly in the Corruption Perception Index)
- high poverty resulting in limited purchasing power
You should ensure you take the necessary steps to comply with the requirements of the UK Bribery Act.
4. Growth potential
Côte d’Ivoire is well on its way to recovery after a difficult start to the 21st century. The International Monetary Fund (IMF) forecasts GDP growth to reach 8.4% in 2016.
There has been significant progress towards implementing structural changes to strengthen and improve the business environment. However, many sectors remain in state-ownership due to profitablility issues and reform requirements.
To help Côte d’Ivoire become an emerging country by 2020, the government has prioritised Public Private Partnerships (PPP). It has also increased social spending and invested heavily in infrastructure projects.
The services sector represents the largest segment of the economy and provides the biggest contribution to growth. Transport and communications activities were on the rise, benefitting from the rebound in agriculture and the Increase in household incomes.
Substantial investments in agro-industry and the extractive and food industries have been made recently.
5. UK and Côte d’Ivoire trade
In 2015, imports of goods from the UK totalled around£123 million.
UK exports to Côte d’Ivoire included:
- dairy products
- textiles
- cars
6. Opportunities for UK business in Côte d’Ivoire
DIT provides free international export sales leads from its worldwide network. Search for export opportunities.
Identify opportunities to supply products and services to the international aid agencies. Contact DIT’s Aid Funded Business Service for more information.
6.1 Agriculture
Recent studies have highlighted that the agriculture sector has not been sufficiently exploited by transformational industries. The highest transformation rates of primary commodities are in cocoa (20%) and coffee (8%). This is compared to less than 5% in other agricultural sectors.
The National Agricultural Investment Program aims to help the country achieve food security and develop value chains in agriculture. This will be notably through increasing private sector participation.
Opportunities in this sector include:
- construction of processing plants for products such as palm oil, fruits and vegetables, cashew, cotton and cocoa
- fertilisers, pesticides and fungicides
- added value investment in sectors such as packaging and construction materials
Contact Marcel.Ngosso@mobile.trade.gov.uk for more information on the opportunities in the agriculture sector.
6.2 Mining
There are growing opportunities in the mining sector following the adoption of the 2014 Mining Code and the end of the United Nations (UN) export ban on diamonds from Côte d’Ivoire the same year.
Although the legalisation of diamond sales is significant, the current small-scale nature of the sector means it will take time to develop the diamond industry. It will likely remain a small source of export revenue in the medium term.
Opportunities exist in the exploitation of:
- manganese
- gold
- nickel
- diamonds
- iron
- cobalt
- tantalite
Contact Marcel.Ngosso@mobile.trade.gov.uk for more information on the opportunities in the mining sector.
6.3 Oil and gas
Oil and gas reserves are estimated at 100 million barrels and 30 billion cubic meters, respectively. Côte d’Ivoire has the potential to become a medium-sized offshore oil producer. It imports crude oil to be refined locally.
There are opportunities for:
- exploration and production (E&P)
- gas storage and transportation
- development of a natural gas distribution network
- quality control and improvement
Contact Marcel.Ngosso@mobile.trade.gov.uk for more information on the opportunities in the oil and gas sector.
6.4 Infrastructure
Côte d’Ivoire is looking to rebuild and improve its infrastructure, repositioning itself as an economic powerhouse of west Africa.
There are opportunities for UK businesses in:
- roads, bridges, railways and highways
- schools and universities
- construction (including renovation)
Contact Marcel.Ngosso@mobile.trade.gov.uk for more information on the opportunities in the infrastructure sector.
7. Start-up considerations
The most common business models in Côte d’Ivoire are:
- joint venture
- branch of a foreign company
- limited liability company
- stock corporations
- regional offices
- sole proprietorships
- agency / distributorship arrangements
Recent reforms have improved the business environment in the areas such as:
- business creation
- property registration
- access to credit
- protection of minority investors
- cross border trade
7.1 CEPICI
The Centre de Promotion des Investissements en Côte d’Ivoire (CEPICI) co-ordinates government initiatives and actions related to investment promotion and private sector development.
CEPICI covers among others:
- enterprises formalities
- industrial lands
- information and facilitation
- trade promotion
- business environment
8. Legal considerations
Contact the DIT team in Côte d’Ivoire to help find tax and legal advisers before entering into agreements.
8.1 Intellectual property
Trademarks, designs, patents and copyright are the principal forms of IP protection available to companies and individuals.
Although the Ivoirian Civil Code protects intellectual property rights, the protection offered does not meet the standards established by Trade Related Aspects of Intellectual Property Rights (TRIPS).
This is due to the weakness of law enforcement and the lack of custom checks at borders, which permit the trade of counterfeit goods.
It is advisable to apply for trademark and patent protection before entering into business in Côte d’Ivoire.
9. Tax and customs considerations
9.1 Tax
The 1995 investment code was revised in 2012 to attract national and foreign investment through tax and tariff exemptions. Foreign companies are free to invest and list their names on the regional stock exchange (BRVM), which is based in Abidjan. Efforts are still ongoing for tax-related issues and insolvency.
9.2 Value Added Tax (VAT)
The main VAT rate in Côte d’Ivoire is 18%.
An ‘exceptional mechanism’ allows exporting companies to recover VAT paid on their inputs. Recovery is not possible for goods and services benefiting from exoneration.
9.3 Customs
Clearing customs depends on the type of goods being imported.
You can find more about import tariffs in the Market Access Database.
10. Entry requirements
You will require a visa to travel to Côte d’Ivoire. Contact the Ivorian Embassy in the UK for more information.
10.1 Travel advice
If you’re travelling to Côte d’Ivoire for business, check the Foreign and Commonwealth Office (FCO) travel advice beforehand.
11. Contacts
Contact the DIT team in Côte d’Ivoire for more information and advice on opportunities for doing business in Côte d’Ivoire.