Browsing: EPZ

• High protection and heavy import dependency have left industries in Africa poorly prepared for international competition.
• The tendency of many African governments to assign a leading role to the state in creating and operating manufacturing firms makes industries in Africa hard to thrive.
• For decades, investments by African governments are often made with little regard to efficiency and the managerial capacity in target industries.

Africa Industrialization Day on November 20 is here, yet the region’s skies remain smokeless. While the region is endowed with $82 trillion worth of discovered natural resources, with the potential to contribute $30 billion a year in government revenue over the next 20 years, this potential remains untapped.

Africa’s failed industrialization

Sadly, Africa’s industrialization has been failing if not stagnating as many nations continue turning into customers of established manufacturing zones in China, Europe and India. For instance, Africa exports around 69 per cent of the …