Sustaining “les Éléphants” economic prowess and renewing Côte d’Ivoire’s growth model

Few nations can rival Côte d'Ivoire’s extraordinary economic journey over the past decade. Fueled by determination and vision, the country has posted a stellar average annual growth rate of 9.2% over 2012-2019 (6.4% per person) and 6.5% (3.8% per person) over 2021-2024 despite global and regional turbulence. This powerful surge propels Côte d'Ivoire into the ranks of Africa's top four fastest-growing economies and secures it a spot among the top ten globally. “Les Éléphants” success story isn’t limited to the soccer pitch—it’s a testament to national ambition and resilience.

But beneath the surface of this impressive progress, a critical challenge looms. Over the last five years, productivity growth has started to slip. Much of the growth has relied on simply adding more capital and labor, rather than a bigger drive of innovation or efficiency (see chart). 

Even more concerning: the pace of poverty reduction has not kept up. Between 2018 and 2021, Côte d'Ivoire’s growth-to-poverty elasticity—a measure of how effectively growth reduces poverty—was just 0.6, well below both the African and global averages. This means that economic gains are not translating into better lives fast enough for those who need it most.

So, how can Côte d’Ivoire build on this momentum and achieve its bold ambitions to create jobs for the 4 million people that will join its labor market by 2030, slash poverty by half and join the ranks of upper-middle-income countries by 2035? The answer lies in embracing new ideas to unleash productivity and power up the private sector with robust foreign direct investment (FDI) (see chart 2). But what exactly should the country do to achieve this?

This urgent question brought together Cote d’Ivoire government leaders, seasoned ex-ministers from economic success stories like Morocco, Vietnam, South Korea, Ethiopia, and India, and global and World Bank experts to provide inspiring examples that can spark the next wave of productivity-driven growth and shape Côte d’Ivoire’s new National Development Plan (NDP) for 2026-2030. Four game-changing priorities were highlighted:

1. Agricultural Productivity: Agriculture powers Côte d'Ivoire's economy, but the real game-changer will be boosting yields rather than just expanding farmland. It’s time to modernize with smart, coordinated policies—including tech upgrades using AgriTech services, better infrastructure, and skills training. Inspired by Ethiopia, Vietnam, and Thailand, Côte d'Ivoire can leap ahead by driving digitalization, attracting private investment, and building agri-industrial clusters with targeted and strategic Foreign Direct Investment (FDI). Key priorities: bring digital and financial tools to rural communities, and make sure smallholders thrive in value chains. With these bold moves, Côte d'Ivoire can ignite rural job creation and spark true economic transformation.
2. Supercharging foreign direct investment & Trade: Côte d'Ivoire is setting its sights high: it aims to double FDI and making the private a stronger engine of growth. Inspired by the successes of Morocco, Vietnam, and Ireland, the country now aims to revamp its business environment, rolling out digital reforms, and launching a one-stop investment promotion agency to better attract global investors. The focus is on building dynamic competitiveness clusters, empowering national champions, and making it easier for businesses to access finance, navigate regulations, and innovate. These ambitious moves will turbocharge trade, unleash SMEs, and fuel job creation, hence paving the way for prosperity and better lives for everyone.
3. Building Human Capital: Human capital stands at the heart of Côte d'Ivoire’s transformative ambitions, and the urgency to invest is backed by compelling data: a child born today is projected to realize only 38% of their productive potential due to gaps in health, education, and nutrition. The stakes are high, especially for women and youth, whose limited participation in the labor force underscores the need for cross-cutting action in the 2026-2030 NDP. Drawing inspiration from Ghana’s effective fight against child malnutrition and Vietnam’s bold curriculum reforms, where 16-18% of the budget is committed to education, yielding top PISA scores, the roadmap for Côte d'Ivoire is clear and exhilarating. By expanding preschool in rural areas, rolling out multisectoral nutrition, improving health care infrastructure and modernizing technical education, the country can unleash its full human capital potential.
4. Delivering Results: Strong coordination across government agencies through institutional reform and a relentless results focus during implementation prevent delays. The South Korean experience and Rwanda's Development Board demonstrate how strategic high-level institutions with presidential backing can provide coordination, transcending administrative silos, break bottlenecks, and scale solutions through clear mandates, and performance accountability. Prioritized results indicators observed through digital tools enable dynamic management and timely course correction.

The lesson is clear: with its bold new national development plan and a willingness to innovate, Côte d’Ivoire can unlock a new era of growth that truly benefits all. Now is the time to turn ambition into reality and ensure that the legacy of “Les Elephants” is one of shared prosperity and lasting transformation.