COTE D’IVOIRE TRENDS AND DEVELOPMENTS Contributed by: Abdourahim Bodeen Diallo, Saran Kaba and Zahra Diallo, Thiam & Associés
As these reforms take root, the Ivory Coast’s legal landscape is entering a phase marked by maturity and specialisation, with deeper regulatory integration, heightened attention to compliance and governance, and renewed momentum in key sectors such as infra - structure, energy, and the digital economy. Collec - tively, these developments signal a clear direction: a business environment increasingly aligned with inter - national standards and a jurisdiction positioning itself at the forefront of legal modernisation and investment in the West African region. In this context of sustained economic expansion and institutional consolidation, it is appropriate to under - take a structured legal analysis of the normative and regulatory framework governing business and invest - ment in Côte d’Ivoire. The sections that follow exam - ine the principal legal and regulatory developments of direct relevance to investors and legal practitioners, and the sector-specific reforms and emerging oppor - tunities that are redefining the operating environment across key areas of the economy. Key legal and regulatory developments In recent years, Côte d’Ivoire’s legal and institutional framework has undergone a series of major reforms, all aimed at strengthening the country’s economic attractiveness and investor confidence. These chang - es focus largely on business law, public governance, The latest reform of the ordinance No 2024-384 of 3 April 2024, amending Law No 2018-646 of 1 August 2018 related to the Investment Code (the “Investment Code”) represents a major step forward. This reform mainly aims to: • clarify investment incentive regimes by distinguish - ing between the general regime, special economic zone measures, and incentives for strategic sec - tors; • reinforce local content requirements, notably by providing stronger incentives to integrate small to medium enterprises (SME) in national supply chains; and and the efficiency of judicial institutions. Reform of business and investment law • streamline approval procedures through shorter processing times and reinforcing the role of Centre
de Promotion des Investissements en Côte d’Ivoire (CEPICI) as the national investment promotion agency. Côte d’Ivoire has also strengthened the digital avail - ability of business-creation and procedures. Assign - ment of the Numéro d’Identification Unique (NIU) which aims to replace the registration with the Reg- istre de Commerce et de Crédit Mobilier (RCCM), and several tax formalities, can now be completed online, in alignment with the objectives of the OHADA Uniform Act on Commercial Companies and the Eco - nomic Interest Group, revised in 2014 and regularly updated (AUSCGIE). Investor protection has simultaneously been bolstered through the OHADA uniform act on the organisation of secured transactions (revised in 2019), which expands the range of permissible collateral and improves credi - tor security, particularly in capital-intensive sectors such as infrastructure, agro-industry, and energy. Public governance and compliance Governance remains a priority for the state. The HABG now operates at full capacity, overseeing asset decla - rations, preventing conflicts of interest, and co-ordi - nating anti-corruption policies. Recent initiatives have focused on stricter oversight of public procurement practices. Financial transparency mechanisms have been enhanced through the establishment of the register of beneficial owners, in accordance with the West African Economic and Monetary Union’s (WAEMU) regional commitments to Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT). Financial institutions and commercial companies are now required to identify and report the beneficial own - ers – ie, the individuals who have effective control of their institutions – which helps to reduce the opacity of investment structures and strengthen the compliance of various economic actors. Judicial and institutional efficiency Improving the efficiency of judicial and dispute resolu - tion mechanisms is essential to enhancing legal cer - tainty. The Abidjan commercial court, established by
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