A joint report published by the International Finance Corporation (IFC) and the World Trade Organization (WTO) titled “Trade Finance in West Africa” examines the main obstacles to economic growth in four economies in West Africa, namely: Côte d'Ivoire, Ghana, Nigeria and Senegal. Despite all these countries have registered an increase in trade flows over the last decade, with more firms participating in cross-border commerce and exports, this growth is constrained by the high cost and limited supply by banks of financial solutions to support international trade. Between 2010 and 2020, the number of exporters rose by around 75 percent in Côte d’Ivoire and Senegal, while the number of importers doubled. However, raw materials still make up more than 70 percent of total exports in these countries, with a low participation in regional and global value chains.