Industrialization key to long term development in Africa

Aug 27, 2015 | | Say something

80 percent. That is the percentage of Chinese imports from Africa that are oil and mineral products. The same percentage applies to exports from Africa to the US that is made of the same natural resources. For all the talk of growing trade between Africa and China (or Africa and the US), at the end of the day we are still buying more and more finished products, and exporting raw materials to the West (and now the East).

There is no circumventing for development available for Africa. Until we are able to manufacture the products we use on a daily basis, we will not be able to put the continent on the track of long term development. It is a joke, yet a tragedy, that in a continent that is so young, well educated, with real unemployment over 30% in most countries, we can’t put in place basic manufacturing for daily goods, or at least start the processing of agricultural products.

Countries don’t have friends, just interests. China and India cannot complain about the growing trade with Africa. Why should they? We help keep their factories opened, their workers busy, while contributing to the growth of their foreign exchange reserves. But selling products made elsewhere contribute very little to the long term growth of our economies, other than making a few traders wealthier. There is no transfer of skills or technology, no jobs created, no real value added.

We need to stop being consumers and become producers. Foreign nations will not initiate this for us. It is for our governments to put in place the long term policies, create conditions for the launch of manufacturing hubs, enable a protection of industries with finished products that can be built at home rather than simply imported from overseas, to encourage the private sector to take the steps to produce locally because it is economically viable to do so.

Posted in: Business | Tags: , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

qqpulsa Slot Deposit Pulsa Togel Deposit Pulsa Poker Deposit Pulsa Slot Online Slot Deposit Pulsa SLOT ONLINE Slot Gacor Slot Deposit Pulsa Tanpa Potongan Poker Pulsa Deposit pulsa tanpa potongan Dingdong togel Slot Pulsa