A total of 5980 small businesses were created in 2014 in the West African nation of Ivory Coast, an increase of more than 50% compared to 2013, according to figures released this week by the country’s investment agency CEPICI.
CEPICI director-general Essis Esmel said reforms carried out by his institution have helped increase the number of new businesses in this country of 22 million people in this financial year.
The reforms include the reduction of the registration fee (15 000 FCFA, or US$30) of a company operating with a capital of 10 million FCFA (aboutUS$2 000) or less, Abidjan.net reported on Tuesday.
The reduction of property registration tax rates from 7 to 6% and the adoption of the legal framework of the Credit Information Bureau also constitute two of the several key reforms.
Small businesses in Africa are thought to be a key contributor in the creation of millions of jobs, as governments struggle to provide decent, well-paying jobs to their fast-growing populations.
Photo: Ivory Coast commercial capital Abidjan