The technological sector in West Africa is changing. Long considered the spearhead of innovation in the region, Senegal now sees its leadership disputed by Côte d’Ivoire, which multiplies initiatives to establish itself as the new essential actor of tech.
A recent Parth Africa report highlights this evolution. Although technological investments have generally fell 7 % in 2024 on the continent, some countries continue to get out of the game. Côte d’Ivoire, in particular, displays an impressive progression. The country attracted $ 229 million to the West African Economic and Monetary Union (UEMOA), a substantial figure despite a drop of 31 % compared to 2023.
Several factors explain this Ivorian dynamic. The deployment of the Equiano fiber optical fiber cable, supported by Google, has considerably improved Internet connectivity, an essential pillar to attract international investors. At the same time, the Ivorian government has shown its determination to support innovation by launching, in early 2024, the Public Start-up Boost Capital Fund. With 1.5 million euros, this system aims to support young companies in key sectors such as Fintech, digital health or even agriculture.
These efforts are starting to bear fruit. Ivorian startups, such as Wiassur, specializing in insurance, were able to capture strategic funding, like the support obtained in September 2024 from the Malagasy conglomerate Axian. The creation of the Ring Africa fund by the French investor Ring Capital also confirms the growing interest in the Ivorian entrepreneurial ecosystem, in particular in Abidjan, which aims to become a regional hub.
-Faced with this rise in power, Senegal for the moment retains its status as a leader in terms of raised amounts, with 36 million dollars invested in 2024. The country remains carried by local champions such as socium, which mobilized 5 million euros thanks to Orange Digital Ventures, or Lafricamobile, which attracted $ 4.6 million via Janngo Capital to support its international expansion. However, the overall context of slowdown in tech investments and the emergence of new competitors, in particular Côte d’Ivoire, weaken this domination.
The rise of Côte d’Ivoire is based on a mixture of increasing private investments, ambitious public policies and notable improvements in digital infrastructure. These elements give it a momentum which could ultimately upset the balances in West Africa.
