During a press conference held in Abidjan-Plateau on May 8, 2026, the critical importance of industrialisation for Côte d’Ivoire’s economic future took center stage. Paul-Harry Aithnard, Ecobank Côte d’Ivoire CEO and UEMOA Regional Director, delivered a compelling argument: to achieve developed economy status, Côte d’Ivoire must prioritize industrialization—following the example of nations like Malaysia.

Aithnard emphasized that industrialization represents the only pathway for Côte d’Ivoire to achieve significant economic scaling. He highlighted how Malaysia transformed its economy, growing from a $100 billion GDP in 2000 to over $400 billion by 2025—a model Côte d’Ivoire could emulate.

The CEO outlined a strategic blueprint for achieving this economic transformation:

Key strategies for industrialization

  • Financial inclusion expansion: Developing systems that allow citizens to save, make payments, access credit, and invest—particularly targeting small-scale savings.
  • Digital technology adoption: Leveraging digital solutions to enhance productivity, reduce costs, and enable scalable operations across industries.
  • Infrastructure financing: Mobilizing private sector investment, particularly from banking institutions, to fund critical infrastructure projects that support industrial growth.

Aithnard stressed that the banking sector plays a crucial role in financing major infrastructure projects, noting: “This deliberate choice to finance infrastructure reflects our commitment to the country’s industrial vision.”

Government’s role in economic transformation

The CEO also outlined government responsibilities essential for industrialization:

  • Energy sector development: Ensuring reliable electricity supply—a fundamental requirement for industrial operations.
  • Education system enhancement: Focusing on technical education in sciences, technology, and management to build a skilled workforce capable of driving industrial growth.

Aithnard praised Côte d’Ivoire’s recent achievements in energy production, noting significant growth in capacity over recent years. He also commended education sector improvements, recognizing the government’s strategic investments in these critical areas.

For Côte d’Ivoire to achieve its economic potential and join the ranks of developed nations, industrialization isn’t just beneficial—it’s essential.