• Business leaders met in Abidjan to assess West Africa’s industrialization progress
• Challenges include infrastructure gaps, affordable energy, and skilled labor shortages
• Côte d’Ivoire ranks 13th in Africa for industrialization, 3rd in West Africa

Private sector leaders gathered in Abidjan on July 3 to discuss how to accelerate regional industrialization across West Africa. This was during the third Choiseul Africa Summit.

The summit, held at the headquarters of Côte d’Ivoire’s General Confederation of Enterprises (CGECI), brought together business executives from companies like PetroIvoire, Kaydan Group, and Endeavour Mining Côte d’Ivoire, alongside financial players such as Ecobank and the International Finance Corporation (IFC).

Panel discussions focused on the key factors needed to drive industrial development in the region, including access to financing, building value chains, workforce training, and creating an environment that supports sustainable industries and job creation.

“In the first two editions, we explored strategic topics like sustainable value chains and the role of new technologies in economic transformation and boosting competitiveness,” said Pascal Lorot, president of the Choiseul Institute, at the opening of the summit. “This time, the focus is on industrialization, which is now high on the agenda of governments and companies across West Africa.”

Speakers emphasized the urgent need for affordable energy, modern infrastructure, appropriate financing solutions, and skilled labor. The African Development Bank (AfDB) estimates that Africa requires between $130 billion and $170 billion in infrastructure investment every year.

“There have been significant improvements in industrialization, both in Côte d’Ivoire and the wider region, but progress remains insufficient,” said Eric Thiam-Sabates, vice president of the CGECI and managing director of Imperial Brands Côte d’Ivoire. He highlighted the importance of regional integration and investment mobilization, urging businesses to take advantage of rising global protectionism to build strong African industrial champions and regional value chains.

Despite progress, Africa’s share of global manufacturing output remains below 2%. However, countries like Côte d’Ivoire, Benin, and Senegal are making notable strides. According to a ranking by the AfDB, African Union, and UNIDO, Côte d’Ivoire ranks 13th among Africa’s most industrialized nations and 3rd in West Africa, behind Senegal and Nigeria.

The Ivorian government aims to improve this ranking through its National Development Plan for 2026-2030, which seeks to transition Côte d’Ivoire to an upper-middle-income economy within five years.