Côte d’Ivoire Signs $6.4bn in Investment Deals at SIREXE

(Ecofin Agency) – In recent years, Côte d’Ivoire has attracted numerous investments in the extractive sector. At the first edition of SIREXE, the country secured several partnerships to boost the growth of this sector.

Côte d’Ivoire secured nearly CFA4 trillion (around $6.4 billion) in investment contracts during the first edition of the International Exhibition of Extractive and Energy Resources (SIREXE). This was announced by the Deputy General Commissioner of SIREXE, Aka Mireille Chiniango, in a statement on December 1, 2024.

? Les chiffres partagés par Mme Mireille AKA, commissaire générale du SIREXE 2024, lors de la cérémonie de clôture :
• 2 200 professionnels réunis,
• 320 exposants,
• 25 000 visiteurs,
• Une couverture médiatique assurée par 134 médias nationaux et internationaux,
• 4 000… pic.twitter.com/CuaWrYpPSA

— SIREXE (@SIREXE_Expo) December 1, 2024

One notable agreement was signed between the Italian energy giant Eni and Côte d’Ivoire’s Minister of Mines, Petroleum, and Energy for the acquisition of four new deep-water exploration blocks. Additionally, Eni partnered with the Ministry of Water and Forests on a project to restore 14 Ivorian forests covering 155,000 hectares in the Lagunes and Comoé regions.

Another major partnership was formed between Petroci Holding, Côte d’Ivoire’s state-owned hydrocarbons company, and Angolan oil giant Sonangol. Together, they plan to finance, build, and operate an integrated logistics service base in Abidjan.

A new Mining Investment Fund was also established to raise resources for supporting mining companies and their subcontractors. This initiative aims to boost worker and community involvement in developing the sector.

Côte d’Ivoire, rich in natural resources such as gold, oil, nickel, and lithium, has seen significant investments in its extractive industries in recent years. These investments have increased the sector’s contribution to the national economy, with extractive revenues reaching CFA372 billion (about $595 million) in 2023, according to the Ministry of Mines, Petroleum, and Energy.

In November 2023, Côte d’Ivoire launched the “Low Carbon Transition” project to strengthen its climate commitments and reduce greenhouse gas emissions.

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