ABUJA, August 16, 2026 — West Africa demonstrated economic resilience in 2025, recording growth of 4.8 percent, above the continental average of 4.4 percent, despite geopolitical tensions, insecurity in parts of the region, increasing fragmentation of the global economy and heightened volatility in international financial markets.
These are among the key findings of the African Development Bank Group’s 2026 West Africa Regional Economic Outlook and the 2026 Côte d’Ivoire Country Focus Report.
The region’s economic outlook remains positive, with growth projected at 4.7 percent in 2026, driven by stronger private investment, recovering domestic demand, continued infrastructure investment and expansion in the oil, gas and mining sectors.
However, prolonged geopolitical tensions, persistent global inflation, rising public debt vulnerabilities and tighter financial conditions could weigh on the outlook.
Both reports were launched recently in Abidjan, Côte d’Ivoire.
Côte d’Ivoire remains the largest economy in the West African Economic and Monetary Union [WAEMU] and is expected to grow by 6.5 percent in 2025. The Country Focus Report further notes that the country’s economic momentum remains strong.
Maintaining this momentum will require greater resource mobilisation and continued reforms. Trade tensions, geopolitical uncertainty, inflationary pressures and tighter international financing conditions could, however, weigh on growth and investment prospects.
The report says Côte d’Ivoire’s ambition to attain upper-middle-income status by 2030 will depend on its ability to accelerate structural transformation through industrialisation, private-sector development and the expansion of fiscal space.
To support this ambition, the Country Focus Report highlights several priorities, including greater formalisation of the economy, improved property and mining taxation, better taxation of electronic commerce, continued financial-sector reforms and stronger mobilisation of domestic and external investment.
“Our ambition is not limited to generating growth. It is about transforming that growth into jobs, stronger human capital, higher productivity and shared prosperity. The findings of these reports reinforce the importance of mobilising public and private resources at scale to support the successful implementation of Côte d’Ivoire’s National Development Plan 2026–2030 and accelerate structural transformation,” said Loesse J. Esso, Chief of Staff at the Ministry of Planning and Development, on behalf of the country’s Minister of Planning and Development, Souleymane Diarrassouba.
West Africa can finance its annual development gap through greater resource mobilisation
The reports also state that West Africa can close its estimated US$ 90–100 billion annual development financing gap by mobilising more domestic resources, strengthening public financial management and channelling local capital into productive investments.
According to the reports, the region’s financing challenges stem less from a shortage of capital than from the fragmentation and underutilisation of existing financial resources.
They call for reforms to mobilise domestic revenues, strengthen financial intermediation and harness the long-term local resources needed to drive structural transformation and inclusive growth.
“West Africa’s challenge is not simply the volume of resources available to finance development. The challenge is how those resources are mobilised and deployed to transformative investments that create jobs, strengthen resilience and improve livelihoods. These reports show that the region has the opportunity to turn fragmented pools of capital into long-term investments that accelerate structural transformation,” said Joseph Ribeiro, Deputy Director General for West Africa and Country Manager for Côte d’Ivoire.
“The reports show that West Africa’s financing gap is not driven solely by a lack of resources. Significant opportunities exist to broaden the tax base, formalise the informal sector, improve public investment efficiency and channel long-term resources from institutional investors towards productive investments. These reforms can help countries mobilise financing at the scale needed to sustain growth and improve development outcomes,” said Marcellin Ndong Ntah, Lead Economist for West Africa.
The Regional Economic Outlook finds that West Africa’s average tax-to-GDP ratio stood at 9.9 percent over the past five years, well below the 20 percent WAEMU convergence benchmark.
According to the report, the low tax-to-GDP ratio limits governments’ ability to finance development priorities and build fiscal resilience.
Strengthening domestic resource mobilisation is therefore critical to expanding fiscal space and reducing financing constraints, the report argues.
To address these challenges, the report identifies four priority actions: broadening the tax base, improving the management of natural-resource revenues, formalising informal economic activity, and directing pension and insurance savings towards long-term productive investment.
The two reports also highlight the need for stronger regional financial integration, including deeper capital markets through institutions such as the West African Regional Stock Exchange [BRVM].
More integrated financial markets, stronger payment systems and greater mobilisation of domestic savings could help unlock long-term investment across the region.
Together, the reports deliver a clear message: West Africa can strengthen its financial sovereignty by mobilising its own resources, unlocking long-term investment and making better use of the capital already available to promote inclusive growth.
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