Four West African countries—Nigeria, Ghana, Côte d’Ivoire, and Senegal—have attracted landmark investments totaling $25 billion to bolster their industrial capacities.
Ghana signed a $12 billion agreement with the TCP-UIC Consortium for a petroleum hub, while Côte d’Ivoire secured $10 billion from ENI for offshore oilfield development. Nigeria obtained a $3 billion Afrexim Bank facility to support light manufacturing, and Senegal advanced its industrial agenda with a $75 million loan from the African Development Bank.
With abundant natural resources, a young workforce, renewable energy potential, and a growing consumer market, West African nations are prioritizing industrialization as a cornerstone for economic transformation. However, challenges like climate change, geopolitical tensions, and political uncertainties remain hurdles.
These issues will be addressed at the West Africa Industrialisation, Manufacturing & Trade (West Africa IMT) Summit and Exhibition in May. Themed ‘Accelerating West Africa’s Sustainable Industrial Revolution for Economic Prosperity’, the summit will unite over 2,500 stakeholders from 25 countries, including government officials, private sector leaders, and international investors.
Wemimo Oyelana, Country Director, Nigeria & Portfolio Director, Africa at DMG events, emphasized the summit’s importance: “This initiative is dedicated to unlocking West Africa’s full industrial potential and establishing the region as a vital player in the global industrial ecosystem.”
The event will feature leadership dialogues, investment roundtables, CPD-accredited workshops, and an exhibition showcasing innovations in manufacturing, energy, technology, and logistics. It aims to align government and private sector efforts to foster partnerships and accelerate sustainable growth.
As Africa accounts for only 3% of global GDP and 2% of the world’s manufacturing value add (UNIDO, 2024), the summit marks a critical step toward transforming the region into a globally competitive industrial powerhouse.
