By: Ecofin Agency

Côte d'Ivoire and Botswana signed a cooperation agreement covering the mining and energy sectors on July 30, according to a statement released on Friday by Côte d'Ivoire's Ministry of Mines, Petroleum and Energy.

The agreement covers key segments of the two industries, including geological research, mineral exploration, the diamond industry, gold resources, critical minerals, mining governance, capacity building and institutional cooperation.

According to the Ivorian authorities, Côte d'Ivoire aims to "draw from Botswana the tools capable of transforming its geological potential into economic development and supporting its ambitions in the mining sector."

The agreement follows a meeting between Ivorian President Alassane Ouattara and Botswana President Duma Boko in May on the sidelines of the France-Africa Summit in Nairobi.

Moreover, the partnership builds on a visit by Côte d'Ivoire's Minister of Mines, Petroleum and Energy, Mamadou Sangafowa-Coulibaly, to Botswana. According to the authorities, the mission accelerated technical exchanges and led to visits by Botswana experts to diamond sites operated by the Société pour le Développement Minier de la Côte d'Ivoire (SODEMI).

Over the past several years, Côte d'Ivoire has become one of West Africa's fastest-growing mining jurisdictions following a series of significant discoveries.

The country's mining pipeline includes the Koné gold project in the Kani and Dianra departments, the Tanda-Iguela gold project and the Doropo gold project. In addition, prospects for manganese, nickel and diamonds have further strengthened the country's investment appeal.

Abidjan now aims to convert its geological wealth into industrial development, skilled employment and higher domestic value creation.

Moreover, the government plans to increase the mining and energy sector's contribution to 14% of gross domestic product by 2040, compared with 7% in 2022.

Botswana remains heavily dependent on diamonds, which account for more than 80% of the country's export revenue. However, the country has successfully transformed its mineral wealth into a driver of economic and social development.

According to the World Bank, Botswana's prudent management of its diamond resources has significantly strengthened both economic performance and living standards.

The Ivorian government therefore views Botswana's experience as an opportunity to "transfer governance practices, strengthen national expertise, support the development of a local industry and better capitalize on strategic resources."

At the same time, the partnership allows Gaborone to diversify its international partnerships beyond its traditional alliances, reinforce its role as a leading African partner and expand its presence in West Africa.