The transformation of the Ivorian economy through industrialisation was the focal point of a press lunch held on Friday, May 8, 2026, in Abidjan-Plateau. During the event, Paul-Harry Aithnard, the Managing Director of Ecobank Côte d’Ivoire and Director for the UEMOA Region, shared his strategic vision for the nation’s future.
According to Aithnard, for Côte d’Ivoire to reach the status of a fully emerging nation, embracing a robust industrial path is no longer optional. He pointed to successful global models, such as Malaysia, as a blueprint for this transition. He emphasised that industrialisation is the primary lever for the country to truly scale its economic operations.
Lessons from the Malaysian economic model
To illustrate the potential for growth, the Managing Director highlighted the trajectory of Malaysia. He noted that Côte d’Ivoire currently has a GDP of approximately 100 billion dollars—a figure identical to Malaysia‘s GDP 25 years ago. Between 2000 and 2025, the Southeast Asian nation successfully increased its GDP from 100 billion to more than 400 billion dollars. Aithnard believes Côte d’Ivoire can achieve a similar fourfold economic expansion over the next quarter-century.
The role of financial inclusion and technology
To facilitate this industrial revolution, Paul-Harry Aithnard advocates for a significant boost in financial inclusion. He explained that citizens must have the tools to save, process payments, and access financing for investments. This shift is essential for mobilising small-scale savings into productive capital.
Digitalisation is the key to achieving this goal. By prioritising technology, the country can improve productivity and scale operations while keeping costs low. In this context, the private sector and the banking industry have a vital responsibility to support this vision by funding major infrastructure projects. Aithnard confirmed that Ecobank has made a deliberate choice to focus on infrastructure financing.
State responsibilities: Energy and education
While the private sector drives investment, the State must ensure the foundational elements are in place. Two critical areas were identified:
- Electricity: Reliable power is the backbone of any industrial sector. Aithnard praised the impressive growth in Côte d’Ivoire‘s energy production capacity in recent years.
- Education: The academic system must evolve to meet modern demands, specifically in Science, Technology, and Management.
The Managing Director concluded by acknowledging the positive signals already emerging from the government, particularly regarding energy expansion and strategic shifts in the educational landscape, which suggest that the country is moving in the right direction.
