Ghana competes in the global economy primarily using natural resources. Other than the usual exports of cocoa, gold, lumber, and crude oil, Ghana has a competitive advantage in numerous product categories. Increasing the proportion of high-income commodities in the export basket hastens economic transition.

The opportunity is providing better, economically advantageous items to regional and worldwide markets. Cocoa processing, wood processing, aluminium products, palm oil, food and agro-processing, and fish processing are examples of manufacturing sub-sectors that fit these two requirements.

Manufacturing subsectors that capture considerable proportions of manufacturing value-added, such as food and drinks, chemicals, and textiles, have significant technology, knowledge, and skills inherent in them. These assets can be used to produce additional goods within the sub-sector or even outside of it. It is also easier to go up the value chain after you have mastered relevant technologies and markets.…

President of Dangote Group, Aliko Dangote in his speech described the new plant as a game changer, as it can make Nigeria self-sufficient in fertilizer production, with spare capacity to export to other markets in Africa and the rest of the world.

While Dangote’s initial export targets were primarily Africa, current market realities mean there is increasing demand from outside the continent. Orders have come from far-flung places in the US, Brazil, Mexico, India, and the EU according to an article by African Business published on May 5, 2022.

According to the World Bank, the proximity of the new fertilizer plant offers a critical window of opportunity for Benin policymakers and the private sector to engage their Nigerian counterparts within the frameworks of the Economic Community of African States (ECOWAS), the African Continental Free Trade Agreement (AfCFTA) and other bilateral agreements to source fertilizer inputs for its farming population to…

If fully implemented, AfCFTA could speed up wage growth for women and lift 30 million people out of extreme poverty by 2035, the World Bank report has found.

An article by Namibia Economist, dated July 29, 2022, suggests that achieving these gains will be particularly important given the economic damage caused by the COVID-19 pandemic, which is expected to cause up to US$79 billion in output losses in Africa from 2020.

• Real income gains from full implementation of the AfCFTA agreement could increase by 7 per cent, or nearly US$450 billion by 2035.
• AfCFTA would significantly boost African trade, particularly intra-regional trade in manufacturing.
• Manufacturing exports would gain the most, 62 per cent overall, with intra-Africa trade increasing by 110 per cent and exports to the rest of the world rising by 46 per cent.

COVID-19 has caused major disruptions to trade across the continent, including critical goods such as…

The widespread adoption of information and communication technology (ICT) by manufacturing companies the world-over is driving competition and permanently disrupting the playing fields.

According to an article by Cision PRNewswire published on May 11, 2022, the competition for a strong manufacturing industry is a global one, and initiatives to promote and advance manufacturing from other governments include Germany's "Industrie 4.0",  France's "Industrie du Futur," and China's "Made in China 2025".

Japan has planned Society 5.0 (Industry 4.0), targeting its economic and social challenges, such as an aging population, labor shortages, and weak growth through advanced technologies. Germany Industrie 4.0 Initiative aims to create an industry infrastructure fit for sustainable future manufacturing in the country.

Recently, African countries have made promising progress towards industrialization, exhibited in the continent’s strategic framework for leveraging the pan-African drive for achieving inclusive and sustainable development, Agenda 2063.

However, the continent has faced unprecedented disruption over…

Africans and African diaspora across the world commemorated Africa Day on May 25, 2022.

The day truly serves to integrate the diverse continent into one identity. This year bears extra importance as it is also the 20th anniversary of the African Union (AU). The theme for this year was "Strengthening Resilience in Nutrition and Food Security on the African Continent".

Yet, the celebration was tarnished by rising food prices as a result of Covid-19, climate-induced drought in parts of Africa, and the Ukraine crisis, according to Hindustan Times.

According to an article by Hindustan Times published on June 17, 2022, Africa Day is to commemorate May 25, 1963, when 30 independent African leaders signed the founding charter of the OAU (Organization of African Unity). Later to give more impetus to the organisation, many new areas were added and it was transformed into African Union (AU).

Yearly, the AU decides a…