Cote d'Ivoire Roundup: Tax payment, cocoa farmers struggle, polypropylene bags recycling
New tax payment module
Cote d'Ivoire has introduced direct debit as the sole method of tax payment. According to APA News, the government aims to optimise tax collection with this measure. On Wednesday, May 22, 2024, an ordinance amending Article 97 of the tax procedure book, along with the related ratification bill, was adopted at the end of a Council of Ministers meeting held at the presidential palace. This ordinance establishes "direct debit as the sole method of tax payment" for taxpayers connected to a real taxation system, intending to address the issues caused by other payment methods.
Top-rated sovereign in Sub-Saharan Africa
Côte d’Ivoire has surpassed South Africa to become the top-rated sovereign in sub-Saharan Africa, according to S&P Global Ratings. This is due to an improving debt profile and the issuance of $2.6 billion in Eurobonds, demonstrating the country’s fiscal strength. The North Africa Post also reports that Cote d'Ivoire's economy is projected to expand by 6.5% in 2024, and the yield on its debt has fallen to a low level. The IMF projects a robust growth rate for Côte d’Ivoire, despite a decline in cocoa production.
Cocoa farmers struggle to live
Ivorian cocoa farmers in Aboude face challenges due to climate change and market inequality. They also face decreased cocoa harvests and struggle to make a living. According to Aljazeera, international chocolate companies profit while farmers barely survive. The government has raised cocoa prices, but farmers still hope for further increases. “We have to check on our fruit daily. Every three months, it becomes ripe and we can harvest it. But harvest hasn’t been good at all lately,” says Magne Akoua, a cocoa farmer. The global chocolate market is worth billions, but local farmers struggle to compete with multinational companies. Farmers question who benefits from their cocoa and hope to see more of the profits.
Ouatarra to participate in Ukraine Peace Summit
Ukrainian President Zelensky has confirmed that Ivorian President Alassane Ouattara will participate in the Peace Summit. Zelensky had a telephone conversation with Ivorian President Alassane Ouattara to discuss bilateral relations and international cooperation."In the spring, Ukraine opened an embassy in Abidjan. I expect this will significantly enhance communication between our countries. Ukrainian peacekeepers made a significant contribution to restoring peace in Côte d'Ivoire. Now, Ukraine needs a just peace. Therefore, I am glad I can count on Côte d'Ivoire's participation in the Peace Summit," Zelensky wrote on his Telegram channel. He also congratulated Ouattara on the upcoming Africa Day, reports Interfax Ukraine.
Côte d’Ivoire to recycle polypropylene bags
LafargeHolcim Côte d'Ivoire, a cement company, is partnering with Grafica Ivoire to recycle polypropylene bags into various products, including school kits. According to APA News, the companies have also launched a pilot sanitation program to promote environmentally responsible practices. This initiative demonstrates their commitment to sustainable development and compliance with environmental regulations in Côte d’Ivoire.
