Business
Commission Tasks Africa On Mass Industrialisation
A mass industrialisation of the continent based on raw materials is necessary, possible and profitable, according to this year’s economic report on Africa prepared by the Economic Commission for Africa (ECA) launched recently.
“The experience of countries rich in resources shows that industrialisation based on raw materials is possible, in spite of the criticisms,” adding that it would not be more difficult than any other industrialisation mode”.
The report was launched at the sixth conference of African ministers of Finance, Economic Planning and Development holding in Abidjan.
The report with the theme: “Draw the biggest profit from African-based products: Industrialisation in service of growth, employment and economic transformation”, stressed the need to create added value in the African industrial process..
“It is through the creation of added value and establishment of relations between sectors that industrialisation will create jobs, revenue, fiscal and non-fiscal profits, such as the diversification of technology capacity and the improvement of industrial structure.
According to the report, progress has been made in upstream and downstream sectors of basic industrial, agricultural and energy products sectors in several African countries.
Ethiopia, Nigeria, South Africa and Egypt are good examples of countries which know how to exploit their basic industrial products, the report stated.
The transformation of primary raw materials paves the way for perspectives in the creation of added value and industrialisation based on basic products in Africa, the ECA report added.
“The food-processing industry is one of the most advanced manufacturer in Africa. Most countries have food-processing industry, with variations.”
The report recommended wide-ranging interventions and high density of resources to extend and modernise the agricultural production