Informal economy

Formalization of the informal sector in Côte d'Ivoire, ILO speeds up the process with a new training module

"Formalize your business" is the new training module the International Labour Organization has designed as part of the process of formalizing the informal sector in Côte d'Ivoire. Twenty-five entrepreneurs from the informal economy have benefited from the pilot training phase.

News | 14 June 2021
Targeted to support the transition of informal economic units to the formal economy, this module complements the Start and Improve Your Business (SIYB) training programme of the International Labour Organization.

"It aims to sensitise entrepreneurs on the importance of formalization, how to achieve it and how to manage the challenges of formalizing micro and small enterprises," explains Marie-Laure Assirifix Dédoh, national coordinator of the ILO's Support to the Resilience of Informal Economy Workers and Enterprises and Post-Crisis Recovery COVID-19 project. "This training module also provides practical advice to informal economy entrepreneurs on the administrative steps needed to transition their economic activity to the formal economy," adds Ms. Dédoh.

Informal economy entrepreneurs taking "Formalize Your Business" training
Eleven existing informal economy entrepreneurs and 14 potential young entrepreneurs benefited from the pilot phase of the "Formalize Your Business" training module.

For these 25 participants, the formalization of the informal economy has many advantages.

Maxime Ngou Adjoro has just completed the pilot training. He has been working in the printing and audiovisual sector for several years without achieving economic success. For him, there are many advantages to formalizing his business: "When I register my business, I no longer have to fear the labour inspectors who impose very high penalties and who threaten to close my business at any time", he explains, adding that "the formalization of informal enterprises promotes social protection".

For Valérie Aya Amani, a supplier of computer equipment, this training module on enterprise formalization is timely. "Before, I did not know the advantages of formalizing my business. I was afraid of paying a lot of taxes when I entered the formal economy. With this training, I see that the opposite is true. Because in formalization, I win and the state benefits as well. For example, I will be able to obtain bank loans to increase my turnover," says Ms Amani.
Participants of the pilot training