Côte d’Ivoire, Senegal and Togo stand out as the three countries with the best business climate within the West African Economic and Monetary Union (WAEMU) in 2025.
According to data from the Central Bank of West African States (BCEAO), published in June 2026, Côte d’Ivoire ranks first with 102 points, ahead of Senegal with 101.8 points and Togo with 101.2 points. Niger and Benin complete the leading group, while Mali ranks eighth with 98.7 points.
This performance confirms a broader trend observed across Africa. In its Business Ready 2025 (B-Ready) report, published in late December 2025, the World Bank ranked Togo, Senegal and Côte d’Ivoire among the ten best-performing African countries in terms of business environment, placing them 4th, 9th and 10th, respectively.
Reforms to Boost Attractiveness
Behind these results are several reforms aimed at improving the economic environment, simplifying administrative procedures and attracting more investment.
In Côte d’Ivoire, the government launched the first phase of the Business Climate Improvement Support Programme (PACA-CI) in 2023. With a budget of more than CFA 9 billion, the programme is jointly financed by the Ivorian government and the African Development Bank (AfDB). Its objectives include enhancing the country’s attractiveness and supporting the structural transformation of the economy.
In Senegal, the adoption of a new Investment Code in 2025 was one of the key measures introduced to simplify and speed up procedures. The new framework includes a digital one-stop shop, application processing within ten days, as well as tax and customs incentive mechanisms.
Togo, for its part, continues the efforts launched in 2017 to modernize public administration and improve the business environment. Led in particular by the Business Climate Unit, this policy now relies on stronger coordination between the various technical departments and an increased focus on efficiency in public administration.
WAEMU Maintains a Favorable Business Climate
At the regional level, the business climate indicator stood at 101.1 points in 2025, unchanged from 2024, after reaching 100.9 points in 2023.
Published by the BCEAO, the indicator is based on monthly surveys conducted among modern-sector businesses across WAEMU. It measures business leaders’ perceptions of changes in the economic environment, taking into account factors such as industrial production, turnover in trade and services, employment and financial services.
With a benchmark value of 100 points, corresponding to its long-term average, any level above 100 indicates an environment perceived as generally more favorable.
The performances of Côte d’Ivoire, Senegal and Togo therefore reflect the efforts made by these economies to strengthen their attractiveness and improve operating conditions for the private sector in a region facing numerous economic and security challenges.