Top 10 Companies in Ivory Coast
Discover the top 10 list of the largest companies in Ivory Coast, compiled and published by the MarcoPolis research team. The list includes groups and companies such as SIR, Olam, CIE, SIFCA, Orange, Total, Cargill, etc.
Every year, the research team at Marcopolis compiles a list of the top ten companies operating in a specific country. With a growing economy and all around technology, oil and gas and agriculture sectors making a come-back after a decade long political strife and civil instability that painted the country, Ivory Coast is one of the countries putting West Africa on the global stage.
The ranking is created by taking into account each company’s latest annual report. When a report wasn’t available, the most recent report conducted by each company was included. Also, since some of the companies on this list are global companies, not just Ivory Coast specific, the Marcopolis team included global figures.
Over the last few years, Ivory Coast began making leaps in economic and social development. Since the post-election crisis in 2012, the country has known average annual growth rates of 9%. Among the largest exporters of cocoa and cashew nuts, Ivory Coast is the second largest economy is West Africa. Because Ivory Coast’s economy is mainly based on exports of cocoa beans and palm oil, the government has tried to diversify its exports and industrial economy, introducing sectors such as oil and refined products.
Oil and Gas
While it isn’t known as an oil producing country like Nigeria, Ivory Coast boasts an upstream oil industry, with national champions such as SIR and Petroci. President Alassane Ouattara has pledged to spike economic growth by investing in the energy and oil sectors, while also striving to beat neighboring Ghana in the amount of oil produced, hoping to increase Ivory Coast’s output to more than 250,000 barrels a day by 2021.
Agriculture and Agro-Industry
Ivory Coast is heavily dependent on its agriculture-related activities. Cocoa is a vital cash crop, which according to the World Bank represents 15% of the GDP, over 50% of export earnings and two-thirds of the jobs and incomes of the population. However, cocoa production decreased to 1.565 million tonnes for the 2015-2016 campaign as compared to the 1.791 million tonnes in the 2014-2015 campaign.
Ivory Coast is also the world’s leading producer of cashew nuts, and the country more than doubled its cashew output from 350,000 tonnes in 2009 to over 702,000 tonnes in 2016, when it surpassed India in terms of raw production.
Multinational companies are heavily present in Ivory Coast. Domestic and foreign investments in this sector remain to grow as transportation and infrastructure projects continue to sprout up around the country.
ICT and Telecom Sector
Ivory Coast has one of the continent’s most sophisticated and vibrant mobile and digital sectors. This sector has continually grown and proved profitable despite years of instability. For example, Ivory Coast was one of the first countries in sub-Saharan Africa to gain full Internet access. Along with Nigeria and Ghana, it is West Africa’s third largest Internet provider.
Top 10 Companies in Ivory Coast
Marcopolis.net presents the top 10 companies in Ivory Coast. The list of the largest companies in Ivory Coast has been compiled and published by Marcopolis.net. The largest companies in Ivory Coast rankings are based on the findings of the Marcopolis.net research team.
Top 10 Companies in Ivory Coast
The List
| Rank | Company | Industry | Description |
|---|---|---|---|
| 1 | Oil & Gas | SIR was founded in 1962 by the Ivorian government, with the help of international oil companies. In 1965, SIR refinery started its operations. It initially covered a surface area of 40 hectares, but since its establishment, it has doubled. SIR is considered to be the largest company by turnover in Ivory Coast. It has a geographical location which makes it a strategic hub in relation to its markets, which favors the marketing of its products. The government of Ivory Coast currently owns 47.3% of the company, while Sonangol, the Angolan public company, owns 20%. | |
| 2 | Agriculture & Agribusiness | Olam opened its first business in Ivory Coast in 1994. Today, some 2 million people across the country earn part, or all, of their livelihoods with Olam as farmers, staff, service providers and their dependents. The group operates throughout the country, sourcing cocoa, coffee, cotton, cashew, and rubber directly from over 125,000 partner farm families, and via a vast network of local traders. Olam operates 30 offices, runs 8 large processing facilities and several primary processing operations and manages 175,000 square meters of committed warehousing spaces across the country. | |
| 3 | Energy | CIE is a subsidiary of the Eranove Group, a West African leader in public service management, electricity and potable water production. It provides 1.2 million customers in Ivory Coast with electricity on a daily basis. First established in 1990, it is the private operator of electricity supply across the country. It operates under a leasing contract with the government of Ivory Coast. The contract is bound by a concession agreement lease that has been renewed in 2005 for an additional 15 years. In 2013, CIE was given an AA long term financial rating by Bloomfield International Agency for its growth potential and financial management. | |
| 4 | Agriculture & Agribusiness | SIFCA is an Ivorian Group which has been operating in the agro-industrial sector since its creation in 1964. Today, it is the first private company in Ivory Coast. It is also present in the subregion, as well as in Europe (France), and employs over 28,000 people. The Group has developed through ten subsidiaries (PALMCI, MARYLAND OIL PALM, SANIA, SENDISO, SUCRIVOIRE, SAPH, SIPH, GREL, CRC and RENL), some of which are listed on the Paris securities market, as well as the Abidjan stock-exchange (BRVM). It operates throughout the production chain – from planting to marketing – of palm oil, natural rubber and sugar. | |
| 5 | Telecom | 2016 was marked by a strong competition, both in voice offers and mobile data offers. Within this context, Orange Ivory Coast successfully improved its market share, which stood at 45.2% at the end of 2016 (compared with 42.5% at the end of 2015), therefore consolidating its first place before MTN. This performance not only results from an active acquisition strategy, but also from the segmentation and differentiation of offers, including those developed around mobile data services. | |
| 6 | Oil & Gas | Total Côte d’Ivoire is the number 1 retailer of petroleum products and related services in Ivory Coast. Following the recent acquisition of offshore licenses, the company has also become the country’s leading exploration and production operator. | |
| 7 | Agriculture & Agribusiness | Worldwide, Cargill is leading the agricultural industry by providing agricultural services and food to the world. With over 143,000 employees in 67 countries, Cargill works with farmers, customers, governments and communities to provide the world with quality food services. Active in Ivory Coast since 1997, Cargill employs over 470 people in Abidjan, Daloa, Gagnoa and San Pedro. While the company carries out various activities related to agriculture (everything from industrial services to partnerships with local communities), its main activities in the country include the production of cocoa products such as cocoa liquor, butter and powder. | |
| 8 | Agriculture & Agribusiness / Distribution | SDTM (Société de Distribution de Toutes Marchandises) was established in 1998. The company covers 70% of the rice market in Ivory Coast. It also distributes all the products of the Carré d’Or Group, as well as local and imported goods through its distribution network spread all over the West African sub-region. | |
| 9 | Oil & Gas | The Shell brand has been present in Ivory Coast since 1927. Today, Vivo Energy Côte d’Ivoire is one of the main suppliers of gas stations, as well as commercial and industrial markets. The company has always been present in Ivory Coast despite periods of trouble, providing motorists and industries with fuels and lubricants, and offering exciting professional opportunities to many Ivorians. Vivo Energy Côte d’Ivoire currently employs 95 people. | |
| 10 | Agriculture & Agribusiness | SAF Cacao (Société Amer et frères Cacao) was founded in 2004. Since then the company has become one of the largest cocoa bean traders in Ivory Coast, together with giants such as Barry Callebaut (SACO) and Cargill West Africa. SAF Cacao sells 150,000 tons of cocoa beans per campaign, as well as 15,000 tons of coffee. |