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Cote d'Ivoire

West African countries commit to common vision for coastal resilience

Dahlia Lotayef's picture
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Coastal erosion is threatening homes and livelihoods in Togo. Photo by: Eric Kaglan, World Bank 


Togolese families often place talismans, thought to contain magical or spiritual properties, outside their homes facing the Atlantic Ocean in hopes of protecting their dwellings from encroaching tides.
 
Unfortunately, dozens of villages have been devoured since the mid-1990s, leaving behind shells of houses, livelihoods and memories in the wake of a coast receding as much as 5-10 meters per year. When expatriates return to Togo’s coast to visit their childhood homes, they are astonished to see that communities have literally washed out to sea.

Financing Côte d’Ivoire’s Emergence Starts with a Social Contract

Jacques Morisset's picture
Also available in: Français
In Côte d’Ivoire, only 15% of savings are allocated to financial institutions such as banks, microfinance companies, and mobile money accounts.
In Côte d’Ivoire, only 15% of savings are allocated to financial institutions such as banks, microfinance companies, and mobile money accounts. 

The wealthy can borrow money to finance their investment needs because bankers trust them. Those who are less well off, and who need loans the most, do not have this access and must call upon the solidarity of their family and community to finance their investments. The same logic can be used at the country level. High income countries borrow, while many poor African countries have a limited access to international capital markets. In recent years, only one fourth of sub-Saharan African countries were able to issue international bonds—and do not have any other alternative but to solicit international aid.

Why is the World Bank providing support to Côte d’Ivoire?

Pierre Laporte's picture
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Of the total US$15.4 billion pledged by the international community at the end of the first day of the meeting of the Consultative Group on Côte d’Ivoire held on May 17, 2016 in Paris, the World Bank Group (IDA, IFC, MIGA) will commit the sum of US$5 billion (CFAF 2500 billion) to finance Côte d’Ivoire’s Second National Development Plan (NDP) covering the period 2016-2020.  This amount is double the sum allocated during the previous period (2012-2016), proof—if any were needed—that the World Bank is more than ever committed to helping Côte d’Ivoire achieve emerging country status. This new country partnership framework between the World Bank Group and Côte d’Ivoire is an important milestone.  

Creating Quality Jobs for Cote d’Ivoire’s Future Generations

Jacques Morisset's picture
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Although most Ivorians are employed, they struggle to find jobs that provide decent sustainable incomes. An average worker earns 120,000 FCFA or $200 per month, which is lower than the average in Sub-Saharan Africa.


Firmin gets by doing small odd jobs. One day he is a street vendor, the next day a carpenter, and on other days he’s a gardener. He arrived in Abidjan two years ago with high hopes of joining the National Police Academy. His story resembles that of thousands of Ivorians who join the domestic workforce each year. Today, there are about 14 million people of age to work in the country, and by 2025, there will be approximately 22 million - all of whom seek a secure well-paying job. 

The King Baudouin African Development Prize

Kristina Nwazota's picture
The King Baudouin Foundation has just announced that it is accepting nominations for its 2014-2015 African Development Prize. The Prize awards innovative initiatives that help local communities take development into their own hands and that improve quality of life. The Prize is worth 150.000 Euros and is awarded every other year. Previous winners include women's rights advocate Bogaletch Gebre of Ethiopia and Dr.

Relaunching Africa Can and Sharing Africa’s Growth

Francisco Ferreira's picture

Dear Africa Can readers, we’ve heard from many of you since our former Africa Chief Economist Shanta Devarajan left the region for a new Bank position that you want Africa Can to continue highlighting the economic challenges and amazing successes that face the continent. We agree.

Today, we are re-launching Africa Can as a forum for discussing ideas about economic policy reform in Africa as a useful, if not essential, tool in the quest to end poverty in the region.

You’ll continue to hear from many of the same bloggers who you’ve followed over the past five years, and you’ll hear from many new voices – economists working in African countries and abroad engaging in the evidence-based debate that will help shape reform. On occasion, you’ll hear from me, the new Deputy Chief Economist for the World Bank in Africa.

We invite you to continue to share your ideas and challenge ours in pursuit of development that really works to improve the lives of all people throughout Africa.

Here is my first post. I look forward to your comments.

In 1990, poverty incidence (with respect to a poverty line of $1.25) was almost exactly the same in sub-Saharan Africa and in East Asia: about 57%. Twenty years on, East Asia has shed 44 percentage points (to 13%) whereas Africa has only lost 8 points (to 49%). And this is not only about China: poverty has also fallen much faster in South Asia than in Africa.

These differences in performance are partly explained by differences in growth rates during the 1990s, when emerging Asia was already on the move, and Africa was still in the doldrums. But even in the 2000s, when Africa’s GDP growth picked up to 4.6% or thereabouts, and a number of countries in the region were amongst the fastest-growing nations in the world, still poverty fell more slowly in Africa than in other regions. Why is that?

L’UEMOA à Quinze Ans

Shanta Devarajan's picture

Mon ami, l’économiste togolais Kako Nubukpo, avec qui j’ai eu l’occasion de débattre lors d’un de mes voyages à Lomé, a fait part de son analyse sur le bilan des quinze années d’existence de l’Union économique et monétaire ouest-africaine (UEMOA) lors d’un entretien pour le site Ouestaf.com.

D’après lui, même si l’Union est parvenue à gérer l’équilibre macroéconomique et budgétaire entre les États membres, la combinaison d’une monnaie forte (du fait de la parité fixe entre le franc CFA et l’euro) avec ce qu’il appelle « la gouvernance macroéconomique » restreint la compétitivité et donc la diversification et la croissance économique des pays membres.

Ces commentaires émanant d’un économiste qui est actuellement consultant auprès de l’UEMOA relanceront peut-être le débat sur les performances et les options économiques des pays d’Afrique francophone.