Why industrialization in Côte d’Ivoire is essential for economic transformation

As Côte d’Ivoire sets its sights on becoming a fully emerged economy, the conversation around industrialization has taken center stage. During a high-profile press luncheon held in Abidjan-Plateau on May 8, 2026, Paul-Harry Aithnard, Regional Director of UEMOA and CEO of Ecobank Côte d’Ivoire, emphasized that industrialization isn’t just an option—it’s a necessity for the country’s economic future. Drawing parallels with Malaysia’s remarkable growth trajectory, he highlighted how Côte d’Ivoire can follow a similar path to quadruple its GDP over the next 25 years.

How Côte d’Ivoire can replicate Malaysia’s success story

In 2000, Malaysia’s GDP stood at approximately $100 billion—the same figure Côte d’Ivoire holds today. Yet, by 2025, Malaysia’s GDP had soared to over $400 billion. Paul-Harry Aithnard underscores that Côte d’Ivoire can achieve comparable growth through strategic industrialization.

To make this vision a reality, he proposes a multi-faceted approach:

• Boosting financial inclusion: Aithnard advocates for expanding access to financial services, enabling citizens to save, make payments, access credit, and invest—especially through small-scale savings.
• Embracing digitalization: Leveraging technology to streamline transactions, reduce costs, and enhance productivity will be pivotal in scaling operations efficiently.
• Strengthening infrastructure: The private sector, particularly the banking industry, must play a proactive role in financing critical infrastructure projects to support industrial growth.
• Government support: The state must prioritize electricity production—without which industrialization is impossible—and reform education systems to focus on science, technology, and management.

While Côte d’Ivoire has already made strides in energy production, Aithnard stresses that scaling up this sector is non-negotiable. Additionally, he applauds recent educational reforms, noting that the country is moving in the right direction to nurture a skilled workforce capable of driving industrial progress.

The role of technology and private sector collaboration

According to Aithnard, the synergy between the public and private sectors will be the backbone of Côte d’Ivoire’s industrial transformation. Banks and financial institutions can lead the charge by funding large-scale projects that lay the groundwork for sustainable industrial development. Meanwhile, the government must create an enabling environment by ensuring reliable electricity and fostering a culture of innovation in education.

As Côte d’Ivoire stands at the crossroads of economic evolution, the urgency to industrialize cannot be overstated. With the right policies, investments, and collaborative efforts, the country is poised to unlock its full potential and achieve the economic prosperity it aspires to.