Why industrialisation is the key to Côte d’Ivoire’s economic transformation

The strategic necessity of industrialising Côte d’Ivoire was the focal point of a media discussion on Friday, May 8, 2026, in Abidjan-Plateau. Paul-Harry Aithnard, the Managing Director of Ecobank Côte d’Ivoire and Director for the UEMOA Region, outlined a clear roadmap for the nation. He argued that for Côte d’Ivoire to reach the ranks of fully emerging economies, it must follow the industrial path taken by nations like Malaisie. According to him, this transition is the only way for the country to truly scale its economic output.

lessons from the Malaisie model

To illustrate the potential for growth, Paul-Harry Aithnard pointed to historical data. “Currently, the GDP of Côte d’Ivoire stands at 100 billion dollars. This is exactly where Malaisie was 25 years ago,” he explained. He noted that between 2000 and 2025, Malaisie successfully grew its GDP from 100 billion to over 400 billion dollars, showcasing the transformative power of a focused economic strategy.

digitalisation and financial inclusion as catalysts

To replicate this success and potentially quadruple the national economy over the next quarter-century, Paul-Harry Aithnard advocates for a surge in financial inclusion. He believes it is essential to provide the population with tools to save, manage payments, and access credit or investment opportunities, even for those with modest savings.

He identifies digitalisation as the primary vehicle for achieving this goal. By prioritising technology, the country can scale its financial services and boost overall productivity while keeping operational costs low. In this context, the private sector, particularly the banking industry, has a vital responsibility to support this vision by financing major infrastructure projects. “Our decision to fund infrastructure is a deliberate choice to back the nation’s growth,” he stated.

the role of the state: energy and education

While the private sector drives investment, Paul-Harry Aithnard emphasised that the government must also fulfill its role. A robust electricity sector is fundamental, as industrialisation cannot happen without reliable power. Furthermore, he called for a targeted overhaul of the education system, with a specific focus on Sciences, Technologie, and Management.

The Managing Director expressed optimism regarding current progress, noting that Côte d’Ivoire has already seen an impressive increase in energy production capacity in recent years. He also welcomed the positive indicators in the education sector, which suggest that the right strategic choices are being made to prepare the workforce for an industrial future.