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A recent index report showed that Tanzania’s agro sector is mechanizing rapidly on the back drop of value addition mini-factories, the revolution is not unique to Tanzania, it is happening continent wide and North Africa is leading.
Evidence to this fact lies in the pages of the Africa Industrialization Index (AII) report that show more than 35 of Africa’s 52 countries have become more industrialized over the span of the last decade.
The multi-stakeholder report, prepared by the African Development Bank, the African Union and the United Nations Industrial Development Organization (UNIDO), attests to an ongoing industrial revolution in Africa.
The Africa Industrialization Index (AII) uses 19 indicators to rate each country’s level of industrialization ranging from performance of its manufacturing sector, capital, labor to a country’s business environment, its infrastructure and even its entire macroeconomic status.
For example, it was discovered that at least five African start-ups that were pitched at the combined events had received investments from Japanese venture capitalists.
When it comes to assisting African nations in accelerating their work toward achieving the Sustainable Development Goals and the African Union’s Agenda 2063, Japan’s leadership and development experience, as well as its business know-how, innovations, and technologies, all have an important part to play.
There has never been a time when the need to find new ways to align and leverage the private capital of the world towards increased sustainability was more pressing than it is now in the wake of escalating crises such as the Covid-19 pandemic, the war on Ukraine, and the cost-of-living crisis brought on by climate change.
The 8th Tokyo International Conference on African Development (TICAD 8) is a summit-level international conference on African development that was initiated by Japan. It brings together Heads of State and Government from Africa, Japan, and their partners to engage in dialogue on issues related to economic growth, trade and investment, sustainable development, human security, and peace and stability in Africa.
