In a significant development, Côte d'Ivoire's economy has been upgraded to BB by S&P Global, a testament to the country's consistent reforms aimed at stabilizing its economy. This upgrade is a major milestone, indicating less vulnerability in the near-term and paving the way for increased investment and growth.

The upgrade is largely attributed to Côte d'Ivoire's thriving cocoa market, which has maintained high prices amid huge demand. The country's commitment to cocoa exports, stable prices, and increased oil and gas output have all contributed to the upgrade. Additionally, the rapid narrowing of the country's elevated external deficit has also played a crucial role.

This development is significant for the tech and startup community, as it highlights the potential for economic growth and investment opportunities in Côte d'Ivoire. The country's cocoa industry, which accounts for a third of global cocoa production, is expected to continue growing, with the 2024-2025 harvest projected to surpass previous estimates by 10%.