Policy and Economic reforms key for Africa's Industrialization revolution

Abstract

Policy and economic reforms are essential for Africa’s industrialization, emphasized experts at the African Economic Conference 2023 in Addis Ababa. Stephen Karingi (ECA) stressed the need for homegrown policies to drive industrial growth, while Ethiopia’s Industry Minister highlighted infrastructure investments and manufacturing focus. The African Continental Free Trade Area (AfCFTA) was underscored as pivotal for boosting intra-African trade, requiring political will, infrastructure development, and reduced trade barriers. Panelists called for enhanced value addition, domestic resource mobilization, and youth engagement to reshape Africa’s industrialization narrative. The conference, co-organized by AfDB, ECA, and UNDP, reinforced the urgency of sustainable industrial strategies for Africa’s economic transformation.