Ivorian industrialist Koné Daouda Soukpafolo, widely known as the king of cotton, has acquired a majority stake in Uniwax, one of West Africa’s leading wax fabric manufacturers.
The acquisition, made through Compagnie ivoirienne de coton (COIC), returns Uniwax to domestic ownership and extends Soukpafolo’s footprint in the textile industry.
Uniwax, founded in the late 1960s and headquartered in Abidjan, has long been a staple in regional fashion and ceremonies, manufacturing printed fabrics sold across Ivory Coast and neighboring markets.
The acquisition comes at a pivotal moment for Uniwax, which has posted a strong rebound in 2025. After several difficult years marked by operational headwinds and weak demand, the company has seen revenue growth and net profit return to positive territory.
This turnaround is attributed to tighter cost controls, stronger domestic demand, and wider distribution networks in Nigeria and Guinea.
Investors have responded positively, with Uniwax shares surging 267 percent on the BRVM stock exchange between January and November 2025.
Soukpafolo’s move signals a strategic investment in Ivory Coast’s textile industry, leveraging COIC’s cotton production expertise to stabilize Uniwax’s operations and improve competitiveness. The acquisition aligns with Ivory Coast’s push to strengthen local value addition in the cotton sector and reduce reliance on imported fabrics.
However, Uniwax faces challenges from lower-priced imports, counterfeiting, and fluctuating energy costs.
The company’s strong rebound and Soukpafolo’s investment reflect renewed confidence in Uniwax’s outlook and the potential for growth in Ivory Coast’s textile industry.
As Soukpafolo expands his stake in the sector, it will be interesting to see how Uniwax navigates the challenges and opportunities ahead.
