Africa’s private sector must step up as the engine of the continent’s economic transformation, turning global trade disruptions into opportunities to build stronger local economies, Ivorian Prime Minister Robert Mambé and African Development Bank (AfDB) President Sidi Ould Tah said Monday.
The two leaders spoke at the opening of the CGECI Academy, Côte d’Ivoire’s largest private sector forum, held under the theme “Economic sovereignty: Time for Action.” The annual two-day gathering, organised by the country’s employers federation, drew senior government officials, investors, and representatives of regional business associations.
“The time for self-analysis is over; it’s now time for action,” Mambé told participants. He called for coordinated efforts between governments, investors, entrepreneurs, and consumers to unlock Africa’s potential and secure economic independence.
AfDB’s Ould Tah, who assumed office in September, described the current wave of global protectionism and supply chain disruptions as a “historic opportunity” for Africa to strengthen intra-African trade, build regional value chains, and process more of its raw materials domestically.
“For Africa, this is not a threat; it is a historic opportunity to establish a stronger, more integrated and more resilient local economy,” he said.
AfDB’s Four-Pillar Strategy
Outlining his vision, Ould Tah said the Bank will focus on mobilising large-scale capital, reforming Africa’s financial systems, accelerating job creation—particularly for youth and women—and building climate-resilient infrastructure through green industrialisation. He stressed that governments cannot deliver structural transformation alone.
“They will also come from the African private sector, which must be central to the strategy,” Ould Tah said, urging entrepreneurs to innovate and compete globally.
Private Sector Commitment
Ahmed Cissé, president of CGECI, pledged the federation’s support for strengthening Africa’s economic sovereignty, citing its collaboration with AfDB to support youth entrepreneurship. Their joint initiative La finance s’engage has mobilised millions for Ivorian start-ups since 2016, including €1.1 million in financing that supported 200 young entrepreneurs, a third of them women.
Turning Disruptions into Growth
The event comes as Africa seeks to reduce dependence on external markets and leverage the African Continental Free Trade Area (AfCFTA) to boost internal commerce. Analysts say the convergence of geopolitical tensions, global supply chain realignments, and rising protectionism could push African governments and businesses to fast-track reforms and invest in value addition.
For Côte d’Ivoire, one of the world’s largest cocoa exporters, the push for economic sovereignty also carries direct implications for its long-running efforts to retain more value from cocoa and other agricultural commodities through local processing.
