West Africa Maintains Growth Momentum Despite $90 Billion Financing Gap

The 2026 West Africa Regional Economic Outlook projects a 4.6% growth rate for the coming year, buoyed by robust private investment and expansion in the oil, gas, and mining sectors. Côte d'Ivoire leads this trajectory within the regional monetary union, with growth hitting 6.5% as the nation pushes toward upper-middle-income status by 2030. To sustain this momentum, officials emphasize the need for industrialization and a transition of informal economic activity into the formal tax net.

Bridging the region’s massive financing deficit does not rely solely on external capital. With an average tax-to-GDP ratio of 9.9%—far below the 20% convergence benchmark—there is significant room for domestic revenue mobilization. By improving the taxation of e-commerce, mining, and property, governments can reduce reliance on expensive international debt. Strengthening regional institutions like the West African Regional Stock Exchange (BRVM) offers a path to channel local pension and insurance savings into productive infrastructure, ultimately insulating the region from global financial shocks.