Africa must boost commodity based industrialization to grow economy and poverty says economic report on Africa 2013

Abstract

The Sixth Joint Annual Meetings of ECA Conference of African Ministers of Finance, Planning and Economic Development and AU Conference of Ministers of Economy and Finance opened here with a call for a paradigm shift for Africa from relying on exports of primary commodities to commodity-based industrialization that will deliver employment, increased incomes, and enable diversification. Giving the key note address at the conference Cote D’Ivoire President Alassane Ouattara, said it was time Africa focused on increasing local productivity and its share of finished goods in global value chains.