Prime Minister Patrick Achi commended the commitment of Ivorian private sector stakeholders to wealth creation and assured them of the government's support at the opening of the 2021 edition of the General Confederation of Enterprises of Côte d'Ivoire (CGECI Academy), the leading economic forum for the Ivorian private sector, held in Abidjan on Thursday, 28 October 2021.
The Prime Minister reiterated the significant role that the private sector plays in Côte d'Ivoire's economy. "The private sector is the leading investor, the leading employer, and the main contributor, with 90% of state revenue," emphasized the Head of Government, underscoring the sector's predominant position in the nation's economic framework.
Addressing the theme of the forum, "Crises and Business Resilience in Africa," initiated by the CGECI, Patrick Achi highlighted the impact of the crisis, noting, "2/3 of businesses in Africa have been affected by the crisis. In Côte d'Ivoire, nearly 38% temporarily stopped operations, with 2.5% having ceased permanently."
Despite these challenges, the Ivorian economy demonstrated resilience, sustaining a growth rate of 2% in 2020. "Growth of 6.5% is expected in 2021, thanks to the combined efforts of the private sector and the government," disclosed the Prime Minister.
A total of 830 businesses and 114,000 individuals in the informal sector have received state assistance to mitigate the repercussions of the pandemic.
Patrick Achi emphasized the need for continued reform, pointing out that the economic landscape remains dominated by the informal sector, which accounts for 80% of activities.
Jean-Marie Ackah, President of the Ivorian Employers' Organization, lauded the ongoing dialogue between the private sector and the government, which has facilitated accelerated development.
Ackah offered three key insights to private sector participants: adapt to a crisis-driven world, anticipate crises, and develop resilient businesses through the adoption of digital technology.
While acknowledging the resilience of the Ivorian economy, bolstered by a dynamic private sector and governmental measures, Souleymane Diarrassouba, Minister of Trade and Industry, urged the private sector to be "bolder and less timid."
The CGECI Academy is the premier economic forum organized by the Ivorian private sector, now in its 9th edition. This year's guest of honor is Ghana.
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