Ivorian businessman and politician Jean-Louis Billon discussed the country’s economic environment with the Young Ivorian Entrepreneurs (JEI) in Abidjan on Saturday 21 September 2024. He advocated the creation of a sovereign wealth fund.
In front of dozens of young people, Jean-Louis Billon said that Côte d’Ivoire has enormous economic potential for dazzling development, but the country has ‘endemic corruption and poor governance’.
“Every time I have been in front of a political leader in Côte d’Ivoire and elsewhere, I have always told them that you will only have the means to implement your policy if you make the country economically strong,” Mr. Billon said.
To make the country economically strong, “nationals and entrepreneurs must themselves be strong, otherwise we will remain at the mercy of the rest of the world,” he argued, attesting that Côte d’Ivoire is an enterprising country, “but we are not doing enough for enterprise.”
He pointed out that sustained economic growth absorbs unemployment.
But despite the government’s efforts, the unemployment rate in Côte d’Ivoire remains high, fluctuating “between 20 percent and 30 percent,” compared with the 2-5 percent claimed by officials.
Economic stakes
“Seventy per cent of the population is under the age of 20, and we need to create nearly 150 million jobs in this sub-region over the next five years. If we don’t create them, our countries and economies will be weakened, and many young people will go off on adventures,” he pointed out.
The big challenge is to ensure that “our businesses can be sustainable,” he stressed, adding that when a business is set up, the first three years are the most difficult, and businesses need to be supported.
Mr. Billon, former Minister for Trade, insisted that ‘we need to defend the business environment and ensure that it is as favourable as possible,” before adding that ‘we cannot rely entirely on foreign direct investment for our development’.
“Côte d’Ivoire’s economic partners must be Ivorians first. That’s the way it is in every country in the world. In the United States, in every sector of activity, the Americans come first,” he explained.
On the subject of credit, he pointed out that in the United States, the company where he was working at the time was financed by a 30-year lease. He added that if companies in Côte d’Ivoire could repay a loan over this period, they would do very well indeed.
He also called for a gradual reduction in imports and the creation of added value through local expertise. Mr. Billon advocates a sovereignty fund to support local businesses and make them more competitive.
Political ambition
“The only position I lack is that of President of the Republic,” said Jean-Louis Billon, MP for Dabakala (North), who recalled that he had been President of the Côte d’Ivoire Chamber of Commerce and Industry, former Minister of Trade and President of the Regional Council.
A member of the opposition Parti démocratique de Côte d’Ivoire (PDCI), Jean-Louis Billon has repeatedly declared his interest in running for the supreme magistracy.
A party convention is planned for the near future, and it remains to be seen what his position will be.
In response to a question from a young entrepreneur about the business environment in Côte d’Ivoire, Jean-Louis Billon said “vote for me and you’ll see,” without elaborating on his candidacy for the forthcoming Ivorian presidential election, scheduled for October 2025.
“Côte d’Ivoire must not be a retirement home,” Jean-Louis Billon jokingly said, urging young people to be demanding of their political leaders and to take their place in the life of the nation.
AP/Sf/fss/as/APA