The imperative of industrializing Côte d’Ivoire emerged as a principal discussion point during a press luncheon held on Friday, May 8, 2026, in Abidjan-Plateau. Addressing this critical matter, Paul-Harry Aithnard, who serves as both the Director for the UEMOA Region and the General Manager of Ecobank Côte d’Ivoire, articulated his perspective. He emphasized that for Côte d’Ivoire to genuinely achieve its aspiration of becoming a fully emergent nation, embarking on a robust industrialization drive is indispensable, drawing parallels with the trajectory of countries like Malaysia. Aithnard firmly asserted that industrialization is a prerequisite for Côte d’Ivoire, arguing that it is the sole means by which the nation can truly scale its economic ambitions.
“Côte d’Ivoire’s current GDP stands at $100 billion. This figure mirrors Malaysia’s GDP approximately 25 years ago. Between 2000 and 2025, Malaysia successfully escalated its GDP from $100 billion to over $400 billion,” the General Manager elaborated, presenting this as a compelling example.
To realize this vision of industrialization and enable Côte d’Ivoire to quadruple its economy over the next quarter-century, Paul-Harry Aithnard put forth a key proposal: the expansion of financial inclusion. He detailed its importance, stating, “This will empower the population to deposit funds into accounts, conduct payments, preserve capital, secure financing, and channel small savings into investments.”
This much-desired financial inclusion, Aithnard stressed, can be effectively achieved through digitalization. Consequently, he advocated for a strong emphasis on technology, recognizing its capacity to facilitate scalability and enhance productivity at reduced costs.
In this context, the private sector generally, and the banking sector specifically, bear a crucial responsibility: to support this strategic direction by financing significant infrastructure projects. “Our decision to fund infrastructure development is a deliberate choice we have made,” Aithnard affirmed on behalf of his institution.
The State also has a vital role to fulfill. Aithnard believes the government must prioritize the development of the electricity sector, without which industrialization cannot proceed. Furthermore, the General Manager highlighted the necessity of improving the education system, particularly focusing on key disciplines such as sciences, technology, and management. On these two fronts, he commended Côte d’Ivoire’s impressive increase in energy production capacity in recent years and expressed satisfaction with the positive indicators emerging from the education sector, signaling well-considered policy choices.
