Growth potential in Ivory Coast sparks Regus investment in Abidjan

Abidjan - August 1, 2011: Regus, the world’s largest provider of flexible workplaces, is helping local and international companies seize business opportunities in Cote d’Ivoire (the Ivory Coast) as the country’s economy comeback begins.

The launch in the main city of Abidjan follows recent openings in Ghana and Tanzania and strengthens Regus’ presence in the African continent with a 23rd centre. Ivory Coast is the 89th country where Regus has a presence, the 88th being Latvia.

A recent history of political and military crises in Ivory Coast, followed by the global economic meltdown, had slammed the brakes on investment in the country. But with calm restored after the most recent post-election crisis, the new government is working hard to stabilise the economy and safeguard recovery.

The International Monetary Fund (IMF) is just one organisation assisting the government in normalising the country. It has provided a disbursement of about US$129.2 million under a rapid credit facility to support Ivory Coast’s recovery programme. It expects GDP growth to reach 6% in 2012 compared to -7.5 in 2011.

Ivory Coast is the largest economy in the West African Economic and Monetary Union, according to the World Bank, as well as being the world’s top cocoa grower. Although heavily dependent on agriculture, the country is increasing its activity as an oil and gas exporter. As the capital, Abidjan is a city with latent growth potential for entrepreneurs.

“Located in the sought-after Plateau district, close to many embassies and government institutions, our new Regus Abidjan Lagune (Lagoon) centre will offer fresh opportunities to local businesses and entrepreneurs alike,” said Mark Dixon, CEO of Regus.

“Our solutions also offer a safe, flexible way to enter an untested, emerging market, providing a cost-effective local base from which to explore business opportunities.”

Regus Abidjan Lagune, which is within walking distance of the Seaport and Ebrié Lagune, is 15km from Félix Houphouët International Airport. It includes advanced audio-visual technology, state-of-the-art videocommunication facilities and internet access.