Abstract
In 2018 the African Union Commission launched the first Africa Industrialisation Week to promote regional value chains development in Africa, to provide A Pathway for Accelerating Africa’s Structural Transformation, Industrialisation and Pharmaceutical Production. This paper will investigate the trajectory and key elements of Africa’s industrialisation. In particular, the paper will look into how the industrialisation will promote and enhance its sustainable development. Considered also will be harmonisation and regional integration; economic strategies beneficial for African countries; appropriate regulatory and policy regime; and issues structural transformation including reallocation of economic activities from less productive to more productive industrial sectors.
Highlights
Introduction and ContextIn this paper we deal with the possible trajectory of Africa’s industrialisation and the sustainability of development in Africa, following the conclusion of the African Continental Free Trade Agreement (AfCFTA)
Key industrialisation and development considerations are discussed such as industrialisation regulatory framework, Africa’s comparative advantage, structural transformation in both industry and governance structures, and labour re-orientation in the wake of the fourth industrial revolution (4IR)
On 29 July 2016, the United Nations General Assembly proclaimed that the period 2016-2025 as the Third Industrial Development Decade for Africa (IDDA III), and calling on UNECA, United Nations Industrial Development Organisation (UNIDO), African Union (AU) Commission, and NEPAD “to develop, operationalize and lead the implementation of the programme for the Third Decade, under its mandate and through voluntary contributions” (UNIDO, 2017)
Summary
In this paper we deal with the possible trajectory of Africa’s industrialisation and the sustainability of development in Africa, following the conclusion of the African Continental Free Trade Agreement (AfCFTA). Other drivers of sustainable and accelerated industrialisation include, but are not limited to, harmonisation and regional integration; economic strategies beneficial for African countries; appropriate regulatory and policy regime; and issues structural transformation. It should be noted, that the continent’s countries will have different primary drivers of growth, which should be the starting point for industrialisation. Important to note is that from 19 – 23 November 2018 the African Union Commission (AUC) launched the first Africa Industrialisation Week to promote regional value chains development in Africa The idea behind this initiative is to provide A Pathway for Accelerating Africa’s Structural Transformation, Industrialisation and Pharmaceutical. On 29 July 2016, the United Nations General Assembly proclaimed that the period 2016-2025 as the Third Industrial Development Decade for Africa (IDDA III), and calling on UNECA, UNIDO, AU Commission, and NEPAD “to develop, operationalize and lead the implementation of the programme for the Third Decade, under its mandate and through voluntary contributions” (UNIDO, 2017)
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