Africa's Industrialisation: Conditions for emergence!

The 2014 ECA Economic Report on Africa launched on July 17, 2014, contains a wide-range of recommendations for decision-makers.

According to the 2014 Economic Report for Africa by the United Nations Economic Commission for Africa (ECA), the continent absolutely needs to move from the hitherto erroneous pursuit of one-size-fits-all approach to industrialization for the sector to emerge and conveniently contribute to sustainable socio-economic development.

The report launched in Yaounde on Thursday July 17 notes that lack of policy dynamism, gaps in high-level coordination as well as an acute lack of consultations with all stakeholders notably those of the private sector have not helped the sector over the years.

Titled, “Dynamic industrial policy for Africa: Innovative institutions, effective processes and flexible mechanisms,” the report observes that to ensure that growth is both sustainable and beneficial to all strata of society, countries must adopt industrial policies that are useful to their local contexts. They are equally supposed to set up strong institutions with the mandate of formulating and pushing through such policies.

Speaking during the launching ceremony, the Director of ECA Sub-regional office of Central Africa, Emile Ahohe, said the theme is a logical extension of reflections started in recent editions of the report. He said African governments, in the context of limited resources, can build tailor-made infrastructure that would respond to the needs of specific sectors for industrial expansion.

The report enjoins African governments to adopt dynamic industrial policies with flexible processes and mechanisms that will help them transform their economies and bring about inclusive and sustainable socio-economic development. “This is the only way for the continent to reduce its heavy dependence on primary commodities, create decent jobs, reduce poverty and narrow inequalities,” the report underlines.

Presiding at the launching ceremony, the Minister Delegate in the Ministry of the Economy, Planning and Regional Development, Yaouba Abdoulaye, said government has negotiated an irreversible bend on industrialisation and that the recommendations contained in the report will certainly be of help either in strengthening or redirecting policies.