Long dominated by multinational corporations, several of Côte d’Ivoire’s key markets are now seeing homegrown companies gain ground. Petro Ivoire, founded in 1994, has become the country’s largest locally owned fuel distributor, ranking third overall behind TotalEnergies and Shell. The company combined local market knowledge with faster decision-making than foreign rivals to fuel its growth. In digital banking, Djamo has attracted more than 2 million customers and 10,000 small and medium-sized businesses since its launch in 2020. The startup had to overcome investor skepticism about francophone West Africa’s tech potential, designing services around younger, digitally savvy consumers. Meanwhile, cosmetics manufacturer Kaira Holding grew from a two-room Abidjan apartment into a brand that now serves 32 countries across Africa, Europe, and the Middle East. While multinationals still dominate broadly, these companies show that African-founded businesses can scale by staying close to local markets, moving quickly, and building their own production capacity.
Al Jazeera