African Trade Chamber Chair calls for greater investment in productive industries, stronger African enterprises and regional integration that supports industrial transformation.

Lomé, Togo — The Executive Chair of the African Trade Chamber (ATC), H.E. Benedicta Lasi, has called for a more ambitious approach to West Africa’s economic transformation, urging governments, regional institutions and development finance organisations to prioritise competitive industrial production, technological capabilities and the development of integrated regional value chains.

Speaking at the media launch of the ECOWAS Investment Forum (EIF) 2027, organised by the ECOWAS Bank for Investment and Development (EBID), Ms. Lasi argued that West Africa’s continued vulnerability to global economic disruptions reflects structural weaknesses that require sustained investment in productive capabilities, diversified industries and competitive African enterprises.

She observed that the region’s dependence on primary commodity exports, limited industrial diversification and relatively weak production linkages constrain its ability to retain economic value, generate productive employment and withstand external shocks. She maintained that regional resilience must increasingly be measured by the capacity of African economies to produce competitively, develop technological capabilities, accumulate capital and participate in higher-value segments of regional and global industries.

Regional Integration Must Extend to Industrial Production

Addressing the region’s low levels of intra-regional trade, Ms. Lasi drew attention to EBID’s West African Development Outlook 2025, which estimated intra-ECOWAS trade at approximately 7 per cent in 2024, down from around 10 per cent in 2023. The figures underscore the need to strengthen economic integration, although recorded trade statistics do not fully capture informal cross-border commerce.

She acknowledged the institutional foundations established through ECOWAS, while arguing that the next phase of integration must combine trade facilitation with deliberate efforts to develop diversified and complementary production capabilities across West African economies.

“We continually ask how West African countries can trade more with one another. We must now ask how West African countries can produce more with one another,” she stated.

Ms. Lasi advocated the development of commercially viable regional production networks that build on the comparative advantages, industrial capabilities and infrastructure of participating economies. She explained that regional industrialisation should enable countries to specialise in different stages of production where such arrangements improve productivity, competitiveness and access to markets, rather than encouraging the unnecessary duplication of industries across national economies.

Using cocoa as an illustration, she argued that West Africa’s substantial contribution to global production should support greater participation in commercially competitive segments of the industry’s value chain, including specialised processing, industrial ingredients, product development, packaging, branding and distribution. Similar opportunities, she observed, exist in agro-processing, pharmaceuticals, fertilisers, energy and aluminium, provided investments are supported by credible demand, competitive infrastructure and appropriate industrial capabilities.

Africa Must Build Productive and Competitive Enterprises

Turning to inclusive entrepreneurship, Ms. Lasi urged governments and development partners to place greater emphasis on enterprise productivity, technological upgrading and the ability of commercially viable businesses to expand beyond their domestic markets.

She cited World Bank estimates indicating that 10–12 million young Africans enter the labour force annually, while approximately three million formal jobs are created, highlighting the importance of building productive enterprises capable of generating employment at scale.

“Perhaps one measure of a successful SME policy should be how many enterprises eventually cease to qualify as SMEs,” she remarked.

Ms. Lasi argued that entrepreneurship policies must distinguish between support for livelihoods and targeted interventions that enable high-potential enterprises to become competitive medium-sized and large firms.

She emphasised that access to finance must be accompanied by investments in technology, skills, management capabilities, infrastructure and market access.

She also called for greater African participation in productive investment and enterprise ownership, alongside international partnerships that strengthen domestic suppliers, facilitate technological learning and support long-term capital formation. According to her, industrial transformation should be assessed not simply through the volume of goods processed or manufactured locally, but through improvements in productivity, technological sophistication and the capacity of African companies to compete sustainably.

AfCFTA and Development Finance Must Deliver Measurable Industrial Outcomes

On the African Continental Free Trade Area (AfCFTA), Ms. Lasi described the agreement as an important opportunity to overcome market fragmentation and improve the commercial viability of industrial investment.

She emphasised that its economic significance lies in converting fragmented national markets into increasingly accessible regional and continental markets, allowing firms to achieve economies of scale and develop stronger production networks.

She referenced World Bank modelling indicating that full implementation of AfCFTA could increase Africa’s income by approximately US$450 billion by 2035, with around US$292 billion of those potential gains arising from trade facilitation measures, including reduced administrative barriers and lower trade costs. She noted that these estimates demonstrate the economic importance of implementation, although the projected benefits depend on sustained reforms.

Ms. Lasi stressed that the success of AfCFTA must ultimately be reflected in the ability of businesses to invest, source inputs, access financing and expand across borders, rather than being measured exclusively through the adoption of trade agreements and regulatory instruments.

Welcoming EBID’s 2026–2030 Growth, Resilience and Optimisation Strategy, she commended the Bank’s increased emphasis on private-sector development, infrastructure and regional economic integration. EBID has indicated that 63 per cent of its new commitments are directed towards the private sector, including a dedicated allocation to SMEs.

She encouraged development finance institutions to assess their investments not only by financing volumes, but by their additional contribution to productive capacity, private capital mobilisation, technological upgrading and regional enterprise growth.

Ms. Lasi further proposed that EIF 2027 identify a limited number of commercially promising regional production systems and develop coordinated investment pipelines around them, bringing together industrial projects, supporting infrastructure, enterprise development and financing arrangements.

She argued that the Forum’s investment Deal Rooms could provide an important mechanism for addressing specific regulatory, infrastructure and financing constraints, while establishing clearer responsibilities for project implementation.

She also underscored the importance of mobilising African institutional capital through appropriately structured investments, guarantees and risk-sharing arrangements capable of attracting pension funds, insurance assets and private investors without compromising their prudential obligations.

From Economic Potential to Productive Transformation

Ms. Lasi concluded by urging African governments and regional institutions to place greater emphasis on the execution of industrial strategies and the development of institutions capable of coordinating investment, infrastructure, finance and enterprise development.

She maintained that West Africa’s economic transformation should ultimately be measured by the productive capabilities it develops, the competitiveness of its industries, the expansion of its enterprises and the value it creates through regional economic cooperation.

“Resilience must become less about West Africa’s capacity to endure the consequences of economic decisions made elsewhere and more about our capacity to build productive power here,” she stated.

The ECOWAS Investment Forum 2027 is scheduled for 7–8 April 2027 in Lomé, Togo, bringing together governments, investors, development finance institutions and private-sector leaders to advance investment opportunities supporting regional economic transformation.