Ivory Coast's hosting of the 2023 Africa Cup of Nations is expected to accelerate the country's recovery since its civil war ended in 2011. The Ivorian government has invested at least $1 billion in the tournament, including building four new stadiums and renovating two others. Additionally, airports, roads, hospitals, and hotels have been constructed or upgraded in five cities for matches. Some of the massive spending comes from a $3.5bn loan taken out with the International Monetary Fund (IMF) last April.
However, Ivory Coast, ranked as the world's 138th richest nation, is concerned about the outlay, despite an average growth of 8% per annum since President Alassane Ouattara took power in 2010. Prao Yao Seraphin, an Ivorian economics professor, warns that the country of the elephant may produce white elephants if not careful and not creating events to boost revenues from stadiums. The term "white elephants" is often applied to costly infrastructure projects whose financial upkeep outweighs their usefulness. However, Ivory Coast's politicians argue that the country will not suffer such a plight, as the country is once home to one of Africa's largest elephant populations.
