The achievement of inclusive and sustainable industrial development requires the transformation of African countries into competitive industrial production sites, setting up a framework of all the conditions necessary for industrial transformation. These conditions focus on key elements of industrial productive capacity, such as infrastructure, technology, industry finance, industrial entrepreneurship, industrial knowledge and skills, and public and private sector institutions that govern and promote industrial development.
Referring to the state of development of industrial development in Africa, the African economy grew by 3.2% in 2018, slightly less than the 3.4% recorded in 2017, driven by growth. increased global demand, which has boosted demand for African exports, but also the rise in commodity prices, which has increased investment in infrastructure and a high level of private consumption. And to enrich that in the medium term, growth is expected to accelerate to 4% in 2019 and 4.1% in 2020, noting that the growth of the sector of processing industries was low to 0.7% at the first quarter of 2019 compared to the same period of the previous year.
In most African countries, agriculture remains the main provider of foreign exchange, while the services sector continues to grow rapidly, while manufacturing remains concentrated in low-technology products, namely textiles, clothing and footwear.
It is necessary to reinvent the industrialization model of the African continent, adding that geopolitical, demographic, climatic, energy and technological constraints are impacting the continent’s industrial trajectory. thus, it is necessary to prioritize the industry on the part of African states, saying that a developed industry will strengthen local value, generate wealth, balance the balance of trade, finance social systems and to develop research and development R & D.
Keywords : Africa, News, Economy, Industrialization
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