Busting the myths: Importance of industrialization for Africa’s development.
Busting the myths: Importance of industrialization for Africa’s development. Read More »
Industrialisation and Trade
Busting the myths about industrialization in Africa
Africa’s need to aggressively pursue the industrialization path has become more compelling in light of the need to sustain current growth standards. With carefully developed backward and forward linkages, industrialization has the potential to diversify economies and reduce exposure to external shocks. We at ECA are working the case for industrialization and we do not
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A Renewed Global Partnership for a Post-2015 Era
Between 2000 and 2009, eleven African countries grew at an annual rate of 7 percent or more, which is considered sufficient to double their economies in ten years. Africa’s collective GDP at over US$2 trillion today is roughly equal to Brazil’s or Russia’s, and larger than India’s. On the economic front, Africa is now seen
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Africa’s natural resources can drive industrial revolution
By Carlos Lopes and Tony Elumelu The economic performance of Africa in the last few years has been remarkable. The continent has consistently defied the global trend. Five years after the global financial system came perilously close to collapse, the global economic outlook is still uncertain. In Europe, GDP is still below pre-crisis levels and
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Africa must benefit from its mineral resources
Africa’s political economy is deeply ingrained with its history of the exploitation and (mis)management of its mineral and natural resources. More than 500 years after commercial exploitation of Africa’s resources, Africa continues to host many of the large and unexploited deposits of minerals globally. For example, Africa accounts for three-quarters of the world’s platinum supply,
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Global value chains. Africa factory floor world
In order to significantly transform the economies of Africa from the current low-income level to middle-income status, value must be added to Africa’s large reservoir of natural and agricultural resources through processing and manufacturing activities – implicit in the transition process from predominantly agrarian to industrial economies. It is a fact that Africa’s recent relatively
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Africa needs structural transformation not structural adjustment
The rationale for much of the current discourse of the “African Moment” and “Africa Rising” is clear. Some of the fastest growing economies in the world are African. Africa has shown relative buoyancy in an era of economic crisis. While global growth declined by 2.7% last year, Africa bucked the trend and grew at 5%.
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