Côte d'Ivoire Country Risk Conference: THE ABIDJAN PORT AUTHORITY DEMONSTRATES ITS CONTRIBUTION TO THE CONSOLIDATION OF NATIONAL ECONOMIC PERFORMANCE

Autres Wednesday 03 July 2024

Organised by the Pan-African financial rating agency Bloomfield Investment Corporation, the 8th Côte d'Ivoire Country Risk Conference took place on Thursday 25 April 2024 at the Sofitel Hôtel Ivoire in Abidjan, with the Abidjan Port Authority (PAA) as its main partner.

The 2024 event was attended by members of the government, heads of diplomatic missions and a number of leading figures from the public and private sectors.

Speaking at the opening ceremony, the Minister of the Economy, Planning and Development, Mrs. Kaba Nialé, said that the conference would help to understand the mapping of risks, and thus contribute to the economic development of Côte d'Ivoire. It was the perfect opportunity not only to reassure local and international investors, but also to demonstrate the resilience of the Ivorian economy in the face of external shocks such as the Russian-Ukrainian war and the effects of Covid-19.

The day was divided into four panels, the first of which was attended by the PAA, represented by Mr. N'DOLI KOUADIO André, Director of Engineering and Project Management.

The representative of the Managing Director, Mr. Hien Yacouba SIÉ, used this theme to highlight the major investments made since 2012 to provide the Abidjan Port hub with adequate infrastructure. These investments, totalling some 1,000 billion CFA francs, were aimed at supporting the country's economic performance, which has seen average growth of around 7% over the last decade.

A number of structural projects have been carried out, including the modernisation of the fishing terminal, the widening and deepening of the entrance to the Vridi canal, the construction of a second container terminal (TC2), a Ro-Ro terminal, a grain terminal and the creation of 40 hectares of additional industrial land.

“With the completion of this infrastructure, we have succeeded in boosting the country's economy. In 2023, the Abidjan Port achieved overall goods traffic of more than 34.7 million CFA francs, corresponding to significant growth of 21%,” said Mr. N'DOLI KOUADIO.

The Chairman and CEO of Bloomfield Investment Corporation, Stanislas ZÉZÉ, presented Côte d'Ivoire's Country Risk Report at the conference. The report highlights the country's strengths, opportunities, weaknesses and threats, as well as areas for development, in order to provide investors and development partners with relevant information on which to base their decisions.

According to the report, Côte d'Ivoire is placed in the moderate risk category, with a score of 6.5 in 2024 compared to 6.2 in 2023.

In the same vein, it should be recalled that the PAA, which has undergone this financial rating exercise since 2013, has been awarded an ‘AA’ long-term rating and an ‘A1’ short-term rating with a stable outlook by Bloomfield Investment for the period from September 2023 to August 2024, proof of its sound financial health and consequently its solvency.