Interview: Gérard Petit, Director of West Africa at Business France

How do you analyse Côte d'Ivoire's economic situation since the end of the crisis in 2012?

Gérard Petit The growth rate has been constant since the end of the crisis in 2011, sustained at a high level of over 7 %, and the medium-term outlook follows the same dynamic. This episode of growth has been prolonged, yet very few countries on the continent are experiencing such a long-term trend. Inflation is also very contained, at around 0.9 % to 1 % in 2017. The machine is not running out of steam, which is important for the population and shows that this growth is inclusive. We are not yet talking about a large-scale middle class, but we can see that the redistribution of wealth is progressing - with, in particular, an increase in consumer bank loans, even if the bank penetration rate remains low. The only downside is that the next presidential election is scheduled for 2020. Given the country's recent history and the negotiations that have just begun, this deadline could represent a degree of uncertainty for investors. But lenders are still maintaining their confidence in Côte d'Ivoire.

How are foreign investors, particularly French investors, positioning themselves in the country: what are the most promising sectors?

G.P. French companies are positioning themselves in the transport, health, telecommunications technology, energy, education (particularly training platforms) and agri-food sectors. With the economy enjoying sustained growth, there are opportunities in major infrastructure projects financed by donors. But there are also needs in education, housing, trade, etc. This affects all areas of activity. We accompany many missions grouped by sector of activity or multi-sector through the French Chambers of Commerce. It's worth noting that, with the African Development Bank (AfDB) headquarters back in Abidjan, from March 2018 we will be setting up a special entry point to support French companies interested in its projects.

What are the main assets of the capital Abidjan?

G.P.A key factor in an internationalisation strategy is the reassuring security climate. The capital is a long way from the Sahel, especially as the French forces are based here, close to the airport. That's important for a company director on a mission. Abidjan has become a hub renowned for the quality of its air services. Many foreign companies choose to set up their regional base here, as a gateway to the sub-region, and even to Central Africa and the continent as a whole.

Today, the capital is a megalopolis that has grown significantly as a result of natural increase (2.5% in 2017), growing urbanisation (54.9% urban population), and the exodus of rural populations in times of crisis. And this population has many needs, so it's fair to say that Ivorians are "greedy", in the good sense of the word, for novelty and progress. Infrastructure projects are underway, including water, electricity, roads, sports facilities (stadiums for the next African Cup of Nations) and hospitals.

There are basic needs, but there are also more advanced needs that the city caters for. For example, shopping malls have recently sprung up that are second to none in Europe. These needs, including in the cultural field, represent a challenge, but they are also an opportunity for the city and the country.