• Côte d’Ivoire approves bill to support SMEs and mid-sized firms
• Bill defines businesses, expands local content in public projects
• Introduces new fund, monitoring system, to boost economic sovereignty

Côte d’Ivoire has approved a new bill to boost the development of small and medium-sized enterprises (SMEs) and mid-sized companies, it announced after a cabinet meeting on Wednesday.

The legislation aims to create an improved institutional framework for the coordination, financing, and promotion of these businesses. It establishes a uniform definition for both SMEs and mid-sized companies, outlines specific benefits for domestic firms, and expands the requirement for local content across all projects supported by public funding or public-private partnerships.

The bill also introduces a mechanism to monitor and evaluate the national SME policy and creates a support fund. This fund is intended to strengthen the public support ecosystem and enhance the country's economic sovereignty.

According to official 2021 data, SMEs contributed 23% of Côte d’Ivoire's gross domestic product (GDP) and formal employment. To further stimulate this sector, the government has launched several initiatives, including the PEPITE (Economic Program for Innovation and Business Transformation) in 2022. The Côte d’Ivoire SME Agency also assisted 12,767 SMEs in 2024.

Ingrid Haffiny (Intern)