Finance

Côte d’Ivoire: Government seeks Bank’s support for $5.8 bln tourism plan

Côte d’Ivoire: Government seeks Bank’s support for $5.8 bln tourism plan
Thursday, 02 May 2019 18:52

Ivorian Minister of Tourism Siandou Fofana on 25 April 2019 presented a strategy document aimed at making Côte d’Ivoire Africa’s fifth biggest tourism destination from 2025 to the African Development Bank, and sought its support to implement the plan.

The document entitled "Sublime Côte d’Ivoire", was presented to the Bank’s Vice-President responsible for Private sector, Infrastructure and Industrialization, Pierre Guislain, at the headquarters in Abidjan.

"We have come to share this new vision for Côte d’Ivoire with the Bank and to secure your help and financial support. We need your help to pool resources to carry this project out," Minister Fofana said, adding that the strategy will rest on nine new flagship projects and would require a $5.8‑billion investment.

"One of these is the ‘Abidjan Business City’, which will be a central point for holding conventions in Côte d’Ivoire. We do not currently have a conference centre and we do not have a hall with the capacity to accommodate 5,000 people. There is, therefore, a need to move quickly in that regard,” he said.

We will also have a ‘beautiful beach for all’, with a 550-km coastline that has yet to be exploited. In addition, we will build a 100-hectare leisure park to be a place of entertainment for the sub-region, and develop press trips and seven flagship tourist areas," Fofana added.

Projects envisaged under the strategy include strengthening of the tourism code, establishing additional tourist attractions with a land reserve of 6,000 hectares, the creation of a bank of tourism-sector projects and redesigning of a tourism ‘one-stop shop’. The government also plans to strengthen security and health care, develop the aviation sector and increase airport passenger flow to three million, and train and certify 230,000 sector professionals.

"All this will drive employment and our intention is to create 375,000 new jobs. From 2025, we plan to welcome four to five million tourists, (there were 3.08 million in 2016 and 3.47 million in 2017), to make this sector the fourth economic pillar of the country and to make Côte d’Ivoire the fifth biggest tourism power on the continent and the joint leader in African business tourism," said Fofana.

Bank Vice-President Guislain commended Côte d'Ivoire’s "progress” in the tourism sector, saying it was essential for investors.

He briefed the delegation on the Bank's financing instruments for the public and private sectors, highlighting the existence of private investment funds and the Bank's priority focus on supporting bankable projects for partners with sufficient financial capacity.

"We are glad to have been visited by you and to have learnt about your strategy. This is important. Business tourism needs to be consolidated and your ambitions are good. The African Development Bank has a strong partnership with Côte d'Ivoire, the host country of our headquarters. The Bank finances many infrastructure projects (energy and roads) that are essential to the development of tourism. We also financed the expansion of Air Côte d'Ivoire, whose development is essential for tourism to flourish in the country," Guislain said.

24968 in Agency agrf jennifer blanke agrf afdb

On the same topic
GTCO completed a 10-billion-naira private placement on January 30, 2026. The deal involved 125 million new shares issued at 80 naira each. The capital...
Standard Bank arranged a $250m facility to fund Aradel Energy’s expansion and acquisition plans. The deal allows Aradel to raise its stake in ND...
Cameroon ratifies AfDB loans worth 89 billion CFA francs Funding backs CAP2E youth employment project in the Far North Project targets training, jobs,...
Cameroon ratifies AfDB loans worth 89 billion CFA francs Funding backs CAP2E youth employment project in the Far North Project targets training, jobs,...
Most Read
01

Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...

Global Firepower Index 2026: Egypt, Algeria, Nigeria Lead Africa's Military Rankings
02

Circular migration is based on structured, value-added mobility between countries of origin and host...

Circular migration as a lever to turn Africa’s student exodus into value
03

Urban employment reached 53.7% in WAEMU in early 2025 Most jobs remain informal, low-paid, and in...

WAEMU employment tops 50% in 2025, but job quality remains weak
04

African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...

African Startup M&A Hits Record 67 Deals in 2025, Led by Fintech
05

CBE introduced CBE Connect in partnership with fintech StarPay. The platform enables cross-border...

Ethiopia’s CBE launches digital platform to channel diaspora remittances
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.