Ivory Coast

Ivory Coast has long been a thriving economy within the West African Economic and Monetary Union (WAEMU). It remains a regional power despite a decade of political crisis that culminated at the end of 2010 when the two presidential candidates both claimed to have won the election. This led to a national conflict that weakened the economy and made the population more vulnerable. The return of civil peace allowed the economy to recover: in 2012, GDP growth reached 9.8%. Many reforms have since been initiated, spanning multiple sectors, from cocoa to coffee, the judicial system, and the electricity industry. The financial services sector has not been left behind and Ivory Coast has begun to address financial inclusion as a means to promote economic growth. In collaboration with UNCDF and UNDP, the Ministry of Finance conducted an initial diagnostic of supply and demand of the financial sector, the results of which laid the groundwork for the development of a 5-year financial inclusion strategy.

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