Carlos Lopes writing in MakingIt:
Africa’s need to aggressively pursue the industrialization path has become more compelling in light of the need to sustain current growth standards. With carefully developed backward and forward linkages, industrialization has the potential to diversify economies and reduce exposure to external shocks. At the United Nations Economic Commission for Africa (ECA), we are working the case for industrialization and we do not apologize for that. We are convinced that, if properly done, it opens doors to address most of Africa’s many challenges. It has the potential to reduce poverty, deal with the inequality provoked by the rent-seeking practices persisting in many countries, and it can allow leapfrogging into a green economy model. Several myths are bandied around about why Africa’s industrialization has been stunted. Let me address a few fallacies that continue to plague Africa’s industrialization drive...[continue reading]
Image courtesy of Hope Mag
