Conditions ripe for Industrialization

New cement factory opens in Ethiopia - one of Africa's fastest-growing nations

Photo credit: Flickr/DFID – UK Department for International Development

Africa is poised to becoming the most populated continent in a few decades with its current population forecasted to double in a mere 36years by the United Nations. The current leaders of the continent have a responsibly to present and future generations to act sagaciously to leave behind a self sustaining, strong continent which can sustain the projected demographic change. They can do this owing to the convergence of many factors to the continents advantage at this point in its development history. For the past decade, economic development in sub-Saharan Africa has been phenomenal thanks to high global commodity prices, improved macroeconomic policies, increased investment in infrastructure, institutional development, the deepening of financial systems, and rising productivity.

Governments in this region must take advantage of the economic growth along with other factors listed in the article below to push for massive industrial development i.e. switching from a mentality of being solely primary producers to a mentality that works to add value to its primary products thereby providing jobs and foreign exchange for its massive populations. This value addition process is the focus of industrialization.

This and much more is discussed in my editorial that can be accessed H E R E.

The article was originally published on the Fair Observer Website. The author Solomon Appiah is a native of Ghana and ardent advocate for strategic public policies that advance the development of sub-Saharan Africa.

Twitter: @s_apiah