Industrialization

Africa is still taking baby steps in industrialization with its major industries being connected to their large oil and gas reserves. Ushering in industrialization will help African countries achieve high growth rates, diversify their economies and reduce their exposure to external shocks.

In Focus

Industrialization will lead to employment creation which would consequently result in poverty eradication and push the domestic economies forward.
Skilled labor is the need of the hour with people with a penchant for science, technology and innovation being in demand.
Africa aims for sustainable and inclusive economic growth and is in seek of knowledge to make their vision true. Gender equality and youth empowerment is of primary importance.
Climate change and associated risks have made the continent reorient about development with a focus on green consumption and production patterns.

Opportunities

Africa already has an abundance of minerals and natural resources that it exports. Investing in diversifying the commodities by bringing in more industrialization using Africa’s abundance of raw materials would bring in more returns and profits.
Innovations and technologies in the existing industries to increase productivity and yield is also a great area for investments.
Introducing more industries brings in scope for a larger employment pool which in turn leads to a secure economy that can result in more financial returns.