Browsing: Ivory coast

A ship-to-shore crane stands above containers on the dockside at the Port of Durban. (Waldo Swiegers/Bloomberg)

Most Kenyans, 83 per cent, indicated a willingness to increase the amount of money they allocate to savings and investments, but the inability to save due to insufficient funds after fulfilling their obligations that require regular funding and the availability of quick digital loans.

Among their obligations which contribute to Kenyans’ financial strain is supporting their extended family which considerably bites into their savings. 84 per cent of people indicated that they regularly provide some income to their extended family, mostly in case of emergencies, because they feel a sense of obligation to send their extended families money and because their extended family members treat them better when they are sent money.

On their part, the extended family members mostly use the money to cater to recurring expenses like food & transport, school fees and medical expenses at 23 per cent, 19 per cent and 18 per cent respectively. Farm-related…

  • Cocoa is a signature cash-crop for Ivory Coast
  • US Department of Agriculture slated to invest $61 million in Ivory Coast cashew nut
  • Ivory Coast economy is forecasted to expand by 6.7 percent in 2022

Ivory Coast is one of Africa’s largest farms.  More than 60 per cent of the national territory is dedicated as arable agricultural land. Ivory Coast is one of the largest economies in the West African Economic and Monetary Union, and agriculture is its backbone.  Cocoa production is the blood pumping through the economic veins of the Ivory Coast. The West African nation is not only the largest producer of Cocoa in the region but globally (contributing around 30 per cent).  

In 2020/2021, Ivory Coast produced 2.15 million metric tonnes of cocoa beans. In Ivory Coast, the share of agriculture to the economy stood at 21.39 per cent in 2020.     

The West African nation of more

Based on a report by Disrupt Africa, funding for health tech startups in Africa jumped 257.7% from US$28.8m in 2019 to US$103m in 2020. These startups provide a wide range of services from scheduling medical consultations to telemedicine and digitalized imagery.

MaiSoin from Cote d’Ivoire uses a decentralized, gig-economy model, to facilitate the relationship between healthcare professionals and patients needing care at home or via telemedicine. In their first year of operations, they have had an average of 50% growth month over month and are already looking at potential expansions in the region.…

Mergers and acquisitions worth US$52B were completed in South Africa during the first half of 2021, with the value of deals growing by 958% from 2020 with the tech sector in the lead according to Refinitiv Data that provides financial markets and infrastructure data . According to Digest Africa, the value of mergers and acquisitions in the African tech ecosystem in 2018 was US$504M with 24 out of the 39 deals taking place in South Africa making it the country with the most mergers, acquisitions and exits among the KINGS countries. …

A Fair trade research study has revealed that over the past four years cocoa farmers household increased income in Ivory Coast has received a boosted earnings and lower incidences of extreme poverty as reported by Neill Barston.

This latest research comes amid key ongoing challenges within the region’s communities, which are facing significant downward pressures on crop prices impacting on communities earning capability.

Côte d’Ivoire is the world’s largest producer and exporter of cocoa beans. The Ivorian economy is largely dependent on the agricultural sector and about two-thirds of the population is engaged in this area. However, this dependency causes the Ivorian economy to be highly sensitive to changes in the international prices of these products.

According to the Fairtrade’s research key analysis, the average annual Ivorian cocoa farmer household income grew from $2,670 in 2016/17 to $4,937 in 2020/21, an increase of 85% driven, in part, by an upturn …

With over billion mobile money accounts Africa continues to lead the way in transaction value and volume thanks to M-pesa a Kenyan based mobile money service, that is largely used in East Africa. Other regions all-round the Continent are also registering massive growth.

In 2019, West Africa reported the most live mobile money services in any region, with 56 million active accounts. In Ivory Coast, one of Francophone Africa’s largest mobile money markets, 75% of the population own a mobile money account, compared to 20% who own bank accounts. The difference is staggering and clearly shows the region’s huge appetite for the service.

While telecom operators have largely dominated mobile money services across most of sub-Saharan Africa, a few startups are trying to change the mobile money experience for customers. Ivory Coast-based fintech startup Julaya a digital account for African small and Medium businesses is one such company, that has …

The construction of the Lagos-Abidjan Highway has the capacity to unlock 85 per cent of trade within the ECOWAS sub-region according to the African Development Bank (AfDB).

The Highway which is 1,028-km project will span across different countries which includes Cote d’Ivoire, Ghana, Togo, Benin and Nigeria -and traverse the economic capitals of the five coastal countries, starting from Abidjan and ending in Lagos, while equally straddling eight border crossings.

Lamin Barrow the Director-General of AfDB who represented Akinwumi Adesina the AfDB President appearing on Tuesday as a panelist at a one-day webinar to showcase the investment opportunities from the Federal Government of Nigeria’s reforms and privatization activities, said that while the Federal Government had spearheaded various reforms in the banking sector that enhanced the resilience of the financial system, there was a need to stay the course in completing the bold reforms initiated to restructure the energy sector.

Nigeria’s …

African Ministers and Heads of Delegation of Ministries in charge of Housing and Urban Development, African Finance Ministers, the Directors and Management of Shelter Afrique, and representatives of international, regional and national institutions, the private sector and civil society, have agreed to enhance mechanisms for the mass production of decent and affordable housing in the continent to achieve social and economic development.

During a three-day summit at the 40th Annual General Assembly of shelter-Afrique that was held in Yaunde Cameroon, the participants resolved to address the challenges that have hindered the efforts to provide decent and affordable housing in Africa.

In a research concluded by the Shelter-Afrique, a pan African housing finance and development institution, shows that the overall shortage of housing in Africa is estimated at 56 million housing units with out of this, more than 90 per cent are in affordable housing bracket.

The Managing Director …

Africa Nations bagged goodies from the just concluded Paris summit held in France on May 18. The Summit brought together African leaders and global financial institutions, where a new deal was launched for Africa and by Africa, in host of the French President Emmanuel Macron.

For several decades in Africa, debates have taken place around economic relations between France and its former colonies in the continent.

But from Economic and political statements of Commentators of whether few element of exploitation exist or not in France’s way of Trading In Africa it is not a matter of Concern from French President Emmanuel Macron who is in mood to continue trading and offering Goodies to Africa, even though some of the unfair and unequal ethics are left unsaid. his country continues to control the trade and currency of these former colonies. The maintenance of economic domination allows the prolongation of political domination.…

It is not yet another good year for the Cocoa farmers in Ivory Coast the world’s biggest producer of the key ingredient for chocolate, as the prices of their commodity went down for the second year running.

This is contrary to M’Brimbo, a village in central Ivory Coast which 11 years ago became a testing ground for organic cocoa farming and today is prospering.

The local farmers’ collective, the Fair Cooperative Society of Bandama (SCEB), sell their high-quality produce at twice the market rate for non-organic cocoa.

“When producers are trained and well-paid, they can make very good cocoa in Ivory Coast,” said Arthur Gautier, an agronomist who works for Ethiquable, a French company that specializes in marketing fair-trade products and buys SCEB’s harvest.

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The chocolate made from their cocoa is sold in French supermarkets under the brand “Grand Cru M’Brimbo,” a name that …