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Ivory Coast to privatise power, water monopolies

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Abidjan - Ivory Coast will break up its long-standing electricity and water monopolies and introduce competition to reduce prices amid growing public concern over price increases, President Alassane Ouattara said.

The government decided in June last year to increase electricity prices by 16% over three years to keep pace with production costs.

Under the arrangement electricity prices were scheduled to increase by 5% in January. But some customers saw rates rise by as much as 40%, according to a government investigation, prompting Ouattara to cancel the January increases and call for a more competitive industry.

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