Solange Amichia is playing a pivotal role in attracting investment to Cote d’Ivoire. As CEPICI’s CEO, she has achieved record-breaking investment milestones and strengthened her home country’s position as a prime destination for investors. Her result-oriented approach and competitiveness drive her to perform her best and make a difference.
Solange also influences members of the African diaspora to return home and contribute to the continent’s development, creating a powerful legacy that extends far beyond financial milestones. For her, the greatest achievement is inspiring others to return to Africa. “This is not a small achievement for me,” she boasts. “I have paved the way for others from the diaspora to return.” She hopes that the initiatives she is developing at CEPICI, particularly those focused on investment from the diaspora or from those who want to return, will continue to encourage more people to make the journey back home.
Tracking the Professional Journey
Although Solange was born in Cote d’Ivoire, she spent most of her life in Paris, France. She was educated in France, in fact she attended high school and business school there. She started her career by working in banking in France, and later moved to New York City, after getting hired by an investment bank. She worked there for 20 years.
Solange shares that her father was a banker who served as the CEO of a bank in Cote d’ivoire. “Now, I can say I am following in his footsteps,” she affirms. “However, while growing up, I wanted to be an architect. I wanted to build my own house because I figured nobody would know how to build it.”
Her first experience with banking was when she was still in high school. She went with her father to an IMF conference in Washington, DC. “I was on vacation, and my father was working,” she recalls. She remembers being very impressed by top CEOs of banks attending the conference, and the comfort with which they interacted with head of states.
“The image that I recall vividly is that of the head of states bowing down to the CEOs of big banks,” Solange shares. According to her, that is when she realized who are the key players in the world and what is needed to develop a country economically — it is finance. “I got intrigued by this, and with my father being a banker, I decided to pursue a career in banking,” Solange added. “I ended up enjoying banking after I entered the field.”
After working in New York for 20 years, Solange decided to return to her home country, Cote d’Ivoire. “I wanted to contribute to in increasing investment in my home country,” she says. While discussing the matter with some officials, Solange realized that the best place to do that would be CEPICI, the investment promotion agency. She took office as CEO of CEPICI as CEO in September 2021.
Milestones of a Stellar Career
One of the first milestones of Solange’s career was moving to the U.S. from France. She points out that working at an investment bank in one of the world’s leading economies gave her valuable exposure to the world of finance. After 20 years, when she decided to relocate, Solange intended to go to the U.K. But her plan changed when she came back home in December 2010. “I fell in love with Cote d’Ivoire again,” she discloses. The second milestone of her career is her move to Cote d’Ivoire to boost investment and drive economic growth.
Solange highlights that her third milestone is convincing people in the government that she would be the best asset for the country in attracting investment. “CEPICI had never had a female CEO before, and they weren’t looking to appoint one — someone with a background in investment banking in the U.S.,” she points out. However, they recognized that she was the best person to drive more investment in Cote d’Ivoire.
Significant Achievements as CEO
CEPICI’s mission is to promote the development and promotion of investments in Cote d’Ivoire. “Our mission is to attract investment,” Solange asserts. They define schemes and investment targets based on priority sectors. In addition to that, they are aligned with the national development plan, which is a five-year plan to ensure that the country advances to the next stage of becoming an emerging country by 2030.
“Every five years, milestones are established to assess our progress,” Solange proclaims. CEPICI doesn’t solely promote potential investment opportunity sectors, but also works on the elaboration of the reforms and measures that will allow the country to improve its business climate to attract more investment. “We are facilitators as well,” Solange says. “This means once an investor makes the decision to invest, we assist with the registration of the company”
Additionally, the CEPICI team works with other administrations to facilitate acquiring industrial land, the licenses, the construction permit, and the environmental impact study. Furthermore, along with the facilitation, we also give incentives based on priority sectors. After stepping into the role of CEO, Solange was able to bring good governance to CEPICI and define a strategy for increasing investment. “We mobilized more investment by targeting specific countries and attracting investment in particular sectors that the government has designated as priority sectors for developing the country,” Solange explains. She was able to break records in mobilizing investment over the past three years. For example, in the first year, she mobilized 1.6 billion dollars.
In the second year, it was 1.7 billion dollars. Solange informs us that in 2024, the numbers were lower, just 1.3 billion dollars. It is not something to be disappointed about, according to her. It was a difficult year due to international and regional crises. “So, it was also a year of fewer FDIs globally,” she points out. However, Solange was able to stay the course. She achieved that by attracting investors to sectors that continue to experience growth. For example, sectors related to green energy and those processing more agricultural products, rather than exporting raw materials. Her focus was on encouraging investors to invest in the processing of raw materials and add value to the country. “By doing this, I attracted more investors and created more jobs,” she says. “Since these investors are primarily investing in the manufacturing sector, which generates more employment opportunities compared to sectors like IT or telecommunications, the impact was even greater.”
Challenge: Different Approaches of Doing Business
Solange didn’t face challenges specifically because she is a woman, despite being the first female CEO of CEPICI. “People were welcoming, and they saw it as a new approach,” she says. However, she did encounter challenges due to her experience of working in an Anglo-Saxon environment. Because of this experience, she is results-oriented, vocal, and persuasive in advocating for her beliefs. She is also not distracted by things that are not pertinent or relevant to her work.
“So, the real challenge was that I was perceived as aggressive, arrogant, or moving too fast — others couldn’t keep up,” Solange explains. She adds that the real challenge was more about the differences between the Anglo-Saxon and Francophone approaches to doing business.
A CEO’s Typical Day at Work
Solange’s typical workday involves signing a significant amount of paperwork. She explains that this is due to the large volume of correspondence she receives. Companies and individuals write to her, expressing interest in making investments or taking advantage of investment incentives. Some write to offer their services. “I go through each email and assign them to different teams,” Solange says.
She also attends meetings with investors. She enjoys these events the most because she gets to witness first hand, the enthusiasm of investors for her home country. Solange says that they want to know the opportunities available, incentives, the landscape, and the business environment. “I love these conversations because, after speaking with them and providing information, they often decide to invest,” she conveyed.
In addition, Solange meets with her team to check the status of various projects, ensuring progress is being made. She is also frequently invited to international forums or high level events held in Cote d’Ivoire, as one of the key players in the country.
As a leader who leads by example, Solange makes sure that people working under her are comfortable. She ensures that if anyone faces an issue, they feel free to approach her. “My door is always open,” she says.
Initiatives and Plans for the Future
Solange and her team are responsible for mobilizing FDI investments, and they are tracking the numbers and focusing on major investors. However, when she assessed the broader landscape, she realized that she needed to do more than just focus on FDIs. So, she launched three initiatives. The first initiative focuses on investing in women. Solange explains that this initiative helps them to develop capacity and gain access to financing, enabling them to fund their projects.
She points out that women leaders are underrepresented in sectors such as mining, logistics, agri-industry, and construction. Her goal is to increase their presence and visibility. Solange highlights that as a result, banks and financiers will see it as normal to fund women leaders. “To bring more women into leadership roles, as well as roles where they contribute financially to the country — that is very important to me,” she says.
The second initiative of Solange focuses on diaspora. She wants to go beyond convincing people to come and work in Cote d’Ivoire. She plans to hold roadshows in Europe, Asia, and the U.S. to tell reassure them that they will help them develop their projects. “This year we are doing a roadshow in Europe,” Solange informs. They follow a more customized approach to convince those individuals who are apprehensive about returning home. Solange wants to help them every step of the way so that they develop their projects and gain access to financing.
Additionally, Solange and her team focus on another group within the diaspora. That group is comprised of the ones who want to return home to work, but are unsure where to find opportunities. In addition to that, they are also worried about pay and quality of life. Solange reassures that there are job opportunities that match their profiles, and that it’s time to take the leap. “Otherwise, it is foreigners that are going to take the jobs anyway,” according to her.
They also guide individuals in making investments, directing them toward profitable opportunities, including those in their own regions. “Invest in a Region” is the third initiative developed by Solange. She points out that they advise investors on the best regions to invest in. They provide sector-specific guidance, for example, recommending certain regions for mining or others for tourism, ensuring investors make the most of it.
She often tells the diaspora, “If you’re from this region, why not invest your own money in this project and partner with these investors, whether local or foreign? This way, you can generate revenue for your community instead of constantly having your aunt or cousin asking for financial support.”
These three new initiatives are what Solange wants to focus on. “I want to do more than just attract FDIs,” she says. “I want to empower women to thrive in industries where they are underrepresented and help them access financing.” She also wants to encourage the diaspora to invest in their home country. Solange points out that they are a powerful force outside the country, and they need them. “We need them to contribute their skills, invest, and bring projects that will add value to this country,” she adds.
Message to Aspiring Leaders
Solange believes that higher education is central to success in the corporate world. She advises aspiring leaders to complete their higher education. She encourages them to specialize in the industry they are passionate about. “It’s not about following what everyone else is doing,” she explains. “It’s about being good in what you are doing because of your passion for it.”
“You can make money in any industry as long as you have the drive and the education to deliver,” she says. Solange also tells aspiring leaders to be confident. “Confidence in your capabilities is key,” she says. “People recognize it and give you more opportunities when they see that you truly understand your industry.”
Living in Cote d’Ivoire
Solange underscores that Cote d’Ivoire is a great country to live in. “I wouldn’t have believed it if I had not come here,” she says. According to her, the country has excellent infrastructure and is safe. “Services and interactions with people make life easier and less stressful here,” she adds. “Quality of life is what truly makes it a great place to live.”
As Solange has spent most of her life overseas, people assume that she could not live in Africa. “They’re surprised that I actually live well here, and that I am still having a blast,” she says.
