• New sovereign fund will channel mining and oil revenues into development

• Three sub-funds target infrastructure, stability, and long-term savings

• Move comes amid rapid growth in gold and oil production

Côte d’Ivoire has approved the creation of a sovereign wealth fund designed to channel extractive revenues into infrastructure and long-term investment.

The measure, adopted at a cabinet meeting on April 15, establishes the Strategic Sovereign Fund for the Development of Côte d’Ivoire (FSD-CI). The fund aims to finance major infrastructure projects and support the country’s broader development strategy.

The FSD-CI will operate through three specialized vehicles. An Infrastructure Development Fund will back large-scale projects, while an Economic Stabilization Fund will help cushion the economy against external shocks. A third component, the Strategic Financial Investment Fund, will focus on building long-term public savings.

The government plans to fund the mechanism by allocating a share of revenues from mining and energy resources, along with transfers of public assets. The move reflects the growing importance of the extractive sector, which accounted for 3.1% of GDP and 15.88% of exports in 2023, according to the Extractive Industries Transparency Initiative.

Growth has been particularly strong in gold. Output has steadily increased alongside investment in new projects, with authorities aiming to raise production to about 100 tons over the next decade, up from 58 tons in 2024.

The oil and gas sector is also expanding, driven by projects such as Baleine. Under a development plan released in June 2025, Côte d’Ivoire targets oil production of 200,000 barrels per day by 2030, up from around 60,000 currently, and 500,000 barrels per day by 2035.

Extractive revenues include taxes, royalties paid by operators, and dividends from state equity stakes in projects.

The initiative aligns Côte d’Ivoire with a broader trend across Africa. Guinea, for example, announced plans in November 2025 to establish a similar fund backed by mining revenues.

While such mechanisms aim to improve the management of natural resource wealth, their success depends on governance. Ivorian authorities say the fund will include strengthened safeguards on risk management, transparency, and accountability.

Aurel Sèdjro Houenou