Manufacturing
Manufacturing is considered an entry point for industrialization that would attract increased FDI. For Africa, this means skill development, management experience and technology transfer that would drive the economy forward.
In Focus
In Focus
- Nigeria, Egypt, South Africa and Morocco are the primary economies that deal with manufacturing.
- The key products manufactured by the continent include textiles, food products, non-metallic minerals and beverages.
- Projects such as Manufacture Africa, backed by the UK government aim to promote industrialization in East and West Africa by attracting £1 billion in foreign direct investment and creating 90,000 jobs by 2026.
- The manufacturing industry is on its path to growth with increased openness to foreign investments that in turn lead to better infrastructure and strong demand growth.
Opportunities
Opportunities
- Technological and electrical innovations that would increase productivity while being environmentally viable would be a major arena for investment.
- Currently, African governments are on a mission to ensure more affordable healthcare and one major allied sector is pharmaceuticals. If medicines are manufactured locally, the healthcare industry of the continent would undergo a major transformation.
- Another sector that would attract investments would be the manufacturing of construction units such as cement, steel and electric cables to keep up with the growing demand due to the boom in urbanization and industrialization.