Gabon’s Ibrahima Ousmanou courts Afriland First Bank to scale industrial packaging across Central, West Africa

GABON – Ibrahima Ousmanou has sought a major investment from Afriland First Bank to expand his industrial packaging operations across Central and West Africa, targeting rapidly growing demand in the region’s food, beverage, and pharmaceutical sectors.

The move comes as West Africa’s packaging market is projected to grow from approximately US$19.4 billion in 2024 to US$35.4 billion by 2032, a compound annual growth rate of 7.8 percent.

Nigeria alone, the region’s largest economy with 238 million people, imports 66 percent of its plastic raw materials, underscoring the significant opportunity for local packaging manufacturers. 

Ousmanou’s packaging business currently serves customers across Gabon, Cameroon, and Equatorial Guinea, with plans to establish new facilities in Côte d’Ivoire and Nigeria.

A Pan-African Banking Partner

Afriland First Bank, founded by Cameroonian billionaire Paul Kammogne Fokam, is among the largest banking groups in Central Africa and has been expanding its investment footprint across West Africa through its holding company, Afriland First Holding. 

The bank has identified industrialisation and manufacturing as priority sectors for financing, aligning with Ousmanou’s expansion plans. 

Afriland’s recent entry into the Ivorian market following its acquisition of Access Bank’s local subsidiary signals its appetite for growth-oriented industrial clients.

The Packaging Opportunity

The manufacturing sector across Central and West Africa is undergoing rapid transformation as countries seek to reduce dependence on imported finished goods. 

Propak West Africa, the region’s largest packaging trade fair, has seen consistent growth, attracting 250 exhibitors and over 5,500 professional visitors from 35 countries in 2025.

Local packaging production offers distinct advantages over imports: shorter lead times at the same quality levels, lower logistics costs, and reduced exposure to currency fluctuations.

Ousmanou’s industrial packaging business is strategically positioned to serve major consumer goods companies operating across the region.

A Catalyst for Regional Industrialisation

If finalised, the investment would mark one of the largest commitments by a Central African banking group to a packaging enterprise in the region. 

This comes as the African Continental Free Trade Area accelerates intra-African trade, increasing demand for locally manufactured packaging that meets cross-border standards.

For Ousmanou, securing Afriland’s backing would free up capital for faster expansion and the acquisition of recent-generation converting equipment.

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