APA – Abidjan (Cote d’Ivoire) A large delegation of American would-be investors, led by the mayor of Houston, Texas, Sylvester Turner, was received on Thursday by members of the ‘Confederation Generale des Entreprises de Cote d’Ivoire’ (CGECI).
The meeting, held at the ‘Maison de l’Entreprise,’ the Employer’s headquarters in the Plateau, Abidjan’s business center, gave the mayor of Houston and his delegation of entrepreneurs an opportunity to
enquire about business opportunities in Cote d’Ivoire.
Jerome Ehui, one of the vice-presidents of the Ivorian Employers and president of the ‘Association des Professionnels de Banque et Etablissements Financiers de Cote d’Ivoire’ (Association of Bank Professionals and Financial Institutions, APBEFI), led the discussions with the American businessmen.
Discussions focused on the possibility of cooperation between the Ivorian and American parties in various fields. Jerome Ehui, representing CGECI President Ahmed Cisse, was delighted to welcome the
American guests.
“We are proud to welcome one of the most influential mayors in the United States. In addition to being one of the leaders in promoting equitable economic development, you are also involved in adapting to
climate resilience and supporting social justice,” he declared.
He went on to say that American investors had made the “right choice” to come to CGECI, in order to forge contacts and partnerships that would eventually turn into joint ventures, thanks to the diversity of
the umbrella organisation’s components.
The private sector’s share of the Ivorian economy is not to be overlooked, given that it contributes 75 percent of Cote d’Ivoire’s GDP growth over the period 2016-2021.
He will share that Cote d’Ivoire, the leading economic power in the UEMOA space, is the gateway to a market of over 150 million people French-speaking consumers spread across eight countries, and provides an opportunity at the level of the ECOWAS zone, which has a population of 350 million.
Jerome Ehui also points out that the African Continental Free Trade Area (ZLECA) offers exciting prospects for selling products and services to the continent’s 1.2 billion consumers.
For him, investing in Côte d’Ivoire means not only taking advantage of the opportunities and facilities offered by the country, but also entering a vast community space where people, capital, goods and more
and more services circulate freely.
The city of Houston is renowned as a major business center connected to a multitude of other centers around the world, and boasts a large number of industrial and innovative companies. This relationship
broadens the scope of opportunities for local businesses.
Cote d’Ivoire’s GDP growth rate is set to reach 6.5 percent in 2022, according to official data, with a rate of over 7 percent expected in 2023. Despite a difficult international environment, the country is
ready to do business.
The National Development Program (PND 2021-2025) was also presented to American investors, with various projects estimated to be financed to the tune of 59,000 billion CFA francs, with the private sector
expected to contribute 74 percent.
“The City of Houston and the Ivorian private sector have the opportunity to transform this potential for cooperation into concrete realities, in the form of investment projects or co-investments,” the
CEGCI representative said.
Sylvester Turner, the mayor of the 7th largest city in the United States, expressed his willingness to establish a partnership, and shared the American experience in several fields, including medicine.
“We want to establish a positive relationship with the public and private sectors in Cote d’Ivoire,” says Sylvester Turner, noting beforehand the need for them to know the Ivorian Investment Code in
order to adapt their actions.
He also expressed the hope that the relationship would be a “win-win” one, so that American companies would not only make a profit, but also contribute to the development of the communities in which they
operate.
The visit of these American investors to Cote d’Ivoire, which follows that to Nigeria, will end in Ghana. Cooperation agreements were signed with the commune of Abobo, on the initiative of Foreign Affairs
Minister Kandia Camara, who is also the mayor of the town.
AP/fss/as/APA