Côte d’Ivoire Country Summary

FATF Status

Cote D’Ivoire is on the FATF List of Countries that have been identified as having strategic AML deficiencies.

Compliance with FATF Recommendations

The last follow up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Cote D'Ivoire was undertaken in 2024. According to that Evaluation, Cote D'Ivoire was deemed Compliant for 4 and Largely Compliant for 14 of the FATF 40 Recommendations. It remains Highly Effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Côte d'Ivoire faces significant challenges related to corruption and crime, which are deeply embedded in both public and private sectors, severely hindering investment and economic growth. Despite the establishment of anti-corruption bodies and initiatives aimed at improving governance, widespread corruption persists, with limited prosecutions and a lack of effective oversight, while various criminal activities, including human trafficking, drug trafficking, and illegal logging, are exacerbated by weak regulatory frameworks and state complicity.

Côte d'Ivoire presents a dynamic investment climate characterized by robust economic growth, averaging 8.2% from 2012 to 2019, and a resilient recovery during the pandemic, with projected growth rates of 5.5% in 2022 and 6.2% in 2023. The government is actively pursuing structural reforms to enhance the business environment, focusing on digitalization, human capital development, and transitioning from a commodity export-driven economy to one emphasizing value-added processing. While the country has made strides in attracting foreign direct investment, challenges such as bureaucratic inefficiencies, a complicated tax system, and concerns over regulatory transparency remain significant barriers for potential investors.