From the AFDB "Industrialize Africa"

...Africa is at the bottom of the global value chain with its share of global manufacturing at around only 1.9 percent. African economies still rely too heavily on raw commodities; between 2011-2013 manufactured goods made up only 18.5 percent of exports, while 62 percent of total imports were manufactured goods, a commercial imbalance that drains wealth away from the continent. This situation is even worse in countries where a combination of structural constraints and political instability jeopardize any effort for private sector-led economic diversification and transformation. Consequently, most countries have not created the jobs necessary to absorb the significant number of youth, compelling hundreds of thousands to migrate overseas.

To unleash their full potential, African countries must embark on a bold agenda driven by private sector-led investments in industrial transformation.

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