Sustainable and Inclusive Growth in Africa: Industrialization a Must

Abstract

This article builds a case for the imperative of boosting the manufacturing sector as the surest way of tackling Africa’s development challenges of fragile economic growth, poverty, inequality and vulnerability to socio-economic shocks. In doing so, the article firstly analyses the critical role manufacturing sector plays in a country’s socio-economic development. Secondly, it assesses the status of the sector in Africa by gauging its growth rate, over time, and its contribution to GDP. Thirdly, it identifies the factors which have undermined the growth of the sector. Fourthly, it draws an agenda for revival and boosting of the manufacturing sector, while avoiding the mistakes of the past industrialization episodes. Finally, some policy and strategic recommendations are drawn to guide the next generation of a manufacturing-led development paradigm by putting emphasis on the imperative of forging strong partnerships between the private and public sector.

Key words: Industrialization, inclusive growth, Africa, Manufacturing,