Ivory Coast to Launch Commodity Exchange this Year

The Ivory Coast is set to launch a commodity exchange this year, providing a market for essential agricultural products in West Africa. The exchange, to be based in Abidjan, will initially trade kola nuts, cashews, and corn, according to officials from the West African Regional Stock Exchange (BRVM). Cocoa, a dominant crop in the region, will be added later. Efforts are currently underway to set up operational tools, including an information system. Once the technical infrastructure is in place, the platform will be launched.

Ivory Coast: A Growing Economy

The Ivory Coast is one of Africa's fastest-growing economies. According to the IMF, growth rates for 2024 and 2025 are expected to be 6.5% and 6.4%, respectively. The country is the world's largest exporter of cocoa, and agriculture accounts for around 22% of its GDP.

Regional Potential

The region has significant potential, with oil and gas reserves in the Ivory Coast, Senegal, and Niger, and mines in Burkina Faso and Mali. These countries have solid fundamentals, making them attractive to new investors in West Africa. Currently, South Africans hold around 5% of the BRVM, a figure that officials hope to increase as the region's economies expand.

A New Era for Financial Hubs

This is an opportunity to see the emergence of larger financial centers. It's not enough to have small stock exchanges and pretend to have the same performance as in Asia. The integration of capital markets in Africa is essential for the continent's development.