• Côte d’Ivoire’s SOE revenue fell 52.5% to $1.9B in H1 2025
• Earnings still exceeded targets, led by Abidjan Port and PETROCI
• Government reforms aim to boost oversight and financial performance

Côte d’Ivoire’s state-owned enterprises (SOEs) brought in just over 1.095 trillion CFA francs (about $1.9 billion) in the first half of 2025, down 52.5% from 2.309 trillion a year earlier, according to a statement issued after Thursday’s Cabinet meeting.

Despite the year-on-year decline, revenue still beat projections for the period, reaching 109% of the target. The public sector as a whole also posted a surplus of 106.8 billion CFA francs, or 137% of its midyear forecast. State-owned companies made up 69.6% of that total.

The strong performance was driven mainly by the Abidjan Port Authority and the national oil company PETROCI. Firms majority-owned by the state also posted a surplus of 27.9 billion CFA francs, surpassing the projected 24.2 billion, thanks in particular to strong performances by the National Investment Bank (BNI) and the National Lottery (Lonaci). Partially state-owned companies reported a profit of 4.6 billion CFA francs, led by petroleum storage company GESTOCI.

The results continue a positive trend among Ivorian state enterprises in recent years. In the first half of 2024, they achieved 105% of budget targets, according to the Prime Minister’s office. The government collected roughly 69.8 billion CFA francs in dividends from SOEs in 2023, according to the Ministry of Heritage and Portfolio.

 State-owned firms also remain major employers: Abidjan’s public transport company SOTRA, for instance, employed 7,613 people in 2023. To strengthen the public sector’s role in the economy, the government has introduced several reforms, including a framework to anticipate and manage financial risks within state-owned entities.

Lydie Mobio