The committee of experts, meeting here ahead of the Conference of African Ministers of Finance and Economic Development, Thursday analyzed the theme of the conference “Industrialization for an emerging Africa” with a view to addressing how African countries can design and implement effective industrial strategies and policies that will support the promotion of value addition.
The three-day technical preparatory meeting, which will also review the state of economy and social conditions in Africa, will make recommendations to the Ministers for adoption when they meet 25-26 March.
Among the major issues to be considered by the African Ministers is the question of the sustainability of Africa’s economy through the development of industry and other issues facing industrialization for Africa’s economic emergence.
Experts here agree that Africa’s economic emergence and transition from a continent of low-income into middle-income economies, require changing the economic structure from predominantly agrarian to industrial and making the most of its reservoir of natural and agricultural resources.
Ms. Nialé Kaba, the Ivorian Minister at the Prime Minister’s Office in charge of Economy and Finance, who opened the meeting, said there was the need to carry out a diagnosis of past policies on industrialization.
“This meeting is going to assist us here since we are in the process of finalising the new industrial policy,” Kaba said.
She stressed the importance of African economies shifting from current low-income to middle income levels.
The conference will also address issues relating to accelerating industrialization in Africa; looking at industrialization and structural transformation in Africa; planning industrialization and financing Africa’s industrialization.