AGL plans to invest 800 billion CFA francs in Côte d'Ivoire

Côte d'Ivoire has secured major private sector commitments to support its newly launched National Development Programme (PND 2026-2030), with Africa Global Logistics (AGL) pledging an 800 billion FCFA investment and the Africa Finance Corporation (AFC) pioneering new infrastructure funding models.

The strategic partnerships were highlighted at the PND consultative group meeting held on Thursday, 9 July in Abidjan. The high-level summit was attended by the Ivorian Prime Minister, the Vice-Prime Minister, government ministers, development partners, and private sector representatives.

The PND 2026-2030 is currently valued at 114.84 trillion FCFA, which is approximately €175 billion. Because the Ivorian government expects the private sector to finance more than 70% of this massive national programme, commitments from major corporate entities are critical to the country's development objectives.

To meet this demand, AGL has committed to investing 800 billion FCFA across the country over the next five years. The announcement was made by Philippe Labonne, President of the AGL Group and President of the Africa Committee of MEDEF International. This pledge builds upon the company's previous contribution of more than 600 billion FCFA under the previous PND cycle.

According to company officials, AGL will channel these new funds into structural projects designed to enhance national competitiveness. Key target areas include logistics, transport connectivity, maritime and land infrastructure, rail networks, regional logistics platforms, and widespread digitalisation.

This private investment drive follows a breakthrough in public infrastructure financing led by the AFC. In 2025, the corporation successfully arranged, lent into, and guaranteed a €691 million facility to fund national road construction. Channelling the funds through the Ministry of Finance to the national roads agency required solving the unique risk profiles associated with transport networks.

As Kona puts it, "a road doesn't generate revenue the way a power plant or a refinery does." Kona Nkanza, Vice President in AFC's Structured Product Solutions team, worked closely on the transaction. He noted that because the economic payback of road infrastructure is indirect, governments often require external financial partners willing to take early-stage risks.

To secure the €691 million facility, the AFC acted as the anchor investor by committing €275 million before syndicating the remainder of the deal. Crucially, the AFC provided a full guarantee to a Gulf bank making its first-ever investment into an African ministry of finance, as the bank's board required comprehensive cover.

The transaction, which took three years to negotiate, was recently named Best Infrastructure Deal of the Year by EMEA Finance. Since the announcement, the AFC has received numerous reverse inquiries from other governments seeking to replicate the funding model.

Regarding the long-term impact of the transaction, Nkanza noted that the achievement extends beyond what was built, serving as proof that the funding model works and can now be repeated at scale.