AfDB, Côte d’Ivoire PM Urge Africa’s Private Sector to Drive Sovereignty

At the opening of the 13th edition of the CGECI Academy in Abidjan, Ivorian Prime Minister Robert Mambé and African Development Bank Group (AfDB) President Dr. Sidi Ould Tah issued a strong call for Africa’s private sector to take centre stage in driving the continent’s economic transformation. The two-day forum, organised under the theme “Economic Sovereignty: Time for Action”, convened senior government officials, business leaders, and regional employers’ organisations to explore Africa’s path toward financial independence and resilience.

Africa at a Crossroads

Speaking at the opening ceremony, Prime Minister Mambé stressed the urgency of moving from debate to concrete action.

“The time for self-analysis is over; it’s now time for action!” he declared.

He urged participants to embrace a comprehensive approach to economic sovereignty — one that unites governments, private investors, young entrepreneurs, and consumers in building a resilient economic model. Mambé argued that Africa must recognise both its strengths and weaknesses, consolidate achievements, and form dynamic partnerships to unlock untapped potential.

His remarks reflected a growing consensus across Africa that economic sovereignty is no longer optional but an urgent priority in the face of global trade disruptions, supply chain bottlenecks, and rising protectionism.

AfDB President: A Historic Opportunity for Africa

AfDB President Dr. Sidi Ould Tah, who assumed office on 1 September 2025, echoed Mambé’s sentiments, urging African leaders to seize current global trade tensions as a “historic opportunity” to:

• Strengthen regional value chains,

• Increase local processing of Africa’s raw materials,

• Build a more integrated and resilient economy.

“For Africa, this is not a threat; it is a historic opportunity to establish a stronger, more integrated, and more resilient local economy,” Ould Tah said.

He outlined a four-pillar strategy to accelerate Africa’s development:

1. Mobilising large-scale capital to finance growth.

2. Reforming Africa’s financial architecture to increase access to affordable finance.

3. Accelerating quality job creation, especially for the youth.

4. Building climate-resilient infrastructure through green industrialisation.

Ould Tah insisted that governments cannot achieve structural transformation alone. “It will come from the African private sector, which must be central to the strategy,” he said, calling on entrepreneurs to innovate, scale up, and become competitive actors in global markets.

Private Sector at the Heart of Transformation

The General Confederation of Enterprises of Côte d’Ivoire (CGECI), which represents nearly 80% of the country’s private companies, reaffirmed its commitment to working alongside the AfDB and African governments.

Ahmed Cissé, President of CGECI, said the private sector stood ready to partner in efforts to restore economic sovereignty, stressing institutional collaboration as a pathway to long-term resilience.

The CGECI has already partnered with the AfDB to boost youth entrepreneurship. Their joint initiative, La finance s’engage (Finance Commits), has mobilised resources for hundreds of Ivorian start-ups since 2016, including a €1.1 million project that supported 200 young entrepreneurs — nearly a third of them women.

This partnership underscores the growing recognition that youth and women entrepreneurs are key drivers of innovation and inclusive growth.

Rising Pressures, Emerging Opportunities

The CGECI Academy took place against the backdrop of mounting geopolitical tensions, protectionist trade policies, and supply chain shocks, which have exposed Africa’s dependence on external markets.

African leaders see the moment as a turning point to:

• Boost intra-African trade under the African Continental Free Trade Area (AfCFTA).

• Reduce reliance on commodity exports and increase value-added production.

• Invest in regional integration and innovation ecosystems.

Both Mambé and Ould Tah stressed that Africa’s economic sovereignty cannot be achieved in isolation. It requires collaboration among states, development banks, private investors, and entrepreneurs.

Toward Economic Sovereignty

The 13th CGECI Academy has reaffirmed that Africa’s future economic independence hinges on a vibrant, innovative private sector working in synergy with governments and development partners.

By promoting climate-smart investments, youth entrepreneurship, and resilient value chains, leaders believe Africa can turn today’s global uncertainties into the foundation of a new era of economic self-reliance and prosperity.

As Ould Tah concluded, “This is Africa’s time — to act boldly, invest locally, and transform potential into lasting sovereignty.”