Industrialization in Africa in question
Africa imports most of its manufactured goods—intermediate or finished products—from around the world. After an initial phase of incomplete industrialization, the aim to increase levels of industrial transformation remains elusive, especially in value chains that are characterized by high standards governed by large corporations. Nevertheless, governments, as well as regional and international institutions, increasingly view the integration of regional value chains as the preferred means to finally achieve inclusive and sustainable industrialization. This is supposed to encourage modernization of the private sector, foster job creation, and fit in with the green economy paradigm. However, this new orientation is still faced with many challenges.
Keywords
- Africa
- industrialization
- industry
- value chains
- development corridor
- employment
- regionalization
- services