IVOIRE COTON
In 1998, Following the Government’s decision to pull out of cotton production and deregulate the cotton industry, the consortium formed by IPS (WA) and Paul Reinhart acquired a zone in the northwest of Cote d’Ivoire.
Ivoire Coton was created on 23 August 1998 to manage this zone. Its capital of FCFA 15.122 billion is held by FILTISAC (42%), REINHART (26%), IPS (WA) (17%) and DEG (15%). In 2008, Ivoire Coton made the acquisition of the M’bengué lot (following the liquidation of the former Aiglon Group Company in Cote d’Ivoire). A company called 'M’Bengué Cotton' was set up with a ginning capacity of 60,000 t. It merged with Ivoire Coton on June 24th 2012. In 2016, Oiko Crédit became a shareholder of Ivoire Coton, taking over the 15% of the shares previously held by DEG. Ivoire Coton owns to date the 4 gins of Boundiali1, Boundiali 2, Dianra and M’Bengué, as well as assets in the regions of Boundiali, Dianra and Odienné. The total production capacity is 200,000 tons cotton fibre per year for a 150,000 hectares cotton surface situated in the north-west of Cote d’Ivoire. Ivoire Coton’s mission is to promote agricultural development in order to ensure supply of the raw material for its gins, process the cotton seed and market semi-finished products –all of which will help to improve the living standards of rural communities. With the signing of the agreement with the Government of Cote d’Ivoire regarding the sale of a portion of CIDT’s assets, cotton companies have an obligation to oversee or finance agricultural development in their respective regions. Ivoire Coton has pledged its commitment to the sale agreement and its specifications. This mission is additionally reinforced with the decree of December 2016 which sets up a zoning system, thus allocating to Ivoire COTON from the 2017/2018 campaign, an exclusive zone (North West Ivory Coast zone). Ivoire Coton exercises its expertise through 4 main areas of activity:
XOF = CFA Franc BCEAO
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