West Africa's second largest economy is experiencing one of the continent's highest economic growth rates after a bloody civil war in mid-2011. With the introduction of political and economic reforms once the war ended, the economy of Cote d'Ivoire grew by more than 10 percent consecutively in the last three years.
The World Bank projects even higher rates of growth as more road networks are laid and the current roads get an overhaul. The civil war had left bridges and roads extensively damaged.
More than 90 percent of the roads in Cote d'Ivoire are being built by Chinese companies and the remaining 10 percent by the French. China is investing more than $6 billion to build new highways, roads, bridges, stadiums, hotels, hospitals and airports.
Chinese investments in Cote d'Ivoire over the last three years have played a big role in the high economic growth.
"Investments in infrastructure are mostly by China - by the Chinese Government or companies owned by the Chinese Government. We are talking of road networks being constructed or improved to the value of $6 billion," said Germano Mwabu, a World Bank consultant economist and senior economics professor at the prestigious University of Nairobi. "Cote d'Ivoire is Africa's 10th largest economy with a gross domestic product (GDP) of $36 billion."
Mwabu said a major 230-km world-class motorway from Abidjan to Yamoussoukro, linking the economic capital to the political capital, was opened in November 2013. "It was funded by the Chinese Government," he remarked. "I am talking about 32 years after the first 140 km of the road was opened in 1981."
China and Cote d'Ivoire signed additional infrastructure development agreements in 2014. Some of these projects are already under construction.
"These projects should reduce traffic jams, especially in Abidjan," said Mwabu.
According to the economist, continued construction of major road networks will see the economy of Cote d'Ivoire grow by an extra 1 percent. Also, more Chinese investments in other sectors will materialize if political stability continues.
"But there is also increased competition from other countries to invest in Cote d'Ivoire," Mwabu told ChinAfrica.
Francois Kalou, a senior engineer and civil servant in the office of Cote d'Ivoire Prime Minister Daniel Kablan Duncan, said numerous visits by Ivorian President Alassane Ouattara to China in 2013 saw more development agreements signed by both countries. Now these projects need to be constructed.
"We will be overseeing and supervising the construction of all the projects," said Kalou. "[They include] an Olympic stadium in north Abidjan. This construction will be fully funded by the Chinese Government, celebrating more than 30 years of diplomatic relations between China and our country."
Other major projects involving Chinese labor include a 35-km six-lane highway linking Abidjan to Grand-Bassam city in the south.
Chinese company Sinohydro has the contract for engineering, procuring and constructing the 274-MW Soubre Hydropower Project. The $570-million project is Cote d'Ivoire's biggest hydropower project. Building a 100-km railway in west Cote d'Ivoire is under discussion.
"We as citizens of Cote d'Ivoire hope the Chinese can also invest in other sectors of our economy," said Michel Digba, a real estate agent. "The road network here is great. One can easily compare Abidjan with any European city such as London or Paris. More roads are being built and we are amazed."
According to World Bank estimates, the country could jump to the rank of the fourth largest economy in Africa based on growth rates and continued political stability in the next six years.
(Reporting from Cote d'Ivoire)
|